Some people collect stamps, others collect trading cards, and some crazy individuals love collecting sneakers. Few people outside of the sneaker world will ever fully understand the craze and hype of sneaker collections.
Select highly sought-after sneakers go for the price of a reliable car, some as much as a brand new car straight from the dealership. The fact that some collectors pay more than some individuals’ annual salaries for sneakers is mind-boggling to countless people, including many sneaker lovers.
Collecting Sneakers: Investments and Returns
The art of collecting brings numerous purposes and reasons along. Some collectors look to obtain massive collections while others look to collect and bank in on certain collectibles. The world of sneakers is no stranger to returns that attract even non-collectors.
Just like the stock market, the sneaker market can be simplified to a classic phrase: “buy low, sell high.” Reselling sneakers is now viewed as an investment option with fantastic yields. Collectors may sell a pair they didn’t intend to keep in the first place or they might sell pairs that have been collecting dust over multiple months or even years.
Collectors everywhere hear stories of the longest of long holds. A pair of sneakers released this year may be worth double, triple, or even ten times its current market value five years from now. Selling sneakers can be tricky; one pair that goes up in value tomorrow may crash in just a few weeks. Even people who wear their sneakers now and look to get rid of them in the future may still come up with a substantial profit.
Sneaker reselling is not just something for resellers who are strictly looking for profits. Even the most seasoned collectors resell pairs for various reasons. Reselling one pair to buy another seems to be the norm especially in times of economic distress. Enthusiasts everywhere may look to keep their collections under a certain number; limiting collections gives more value to each pair of sneakers rather than having countless pairs that rarely see the concrete.
Diminishing and Skyrocketing Market Value
Similar to the car market, the sneaker market witnesses rapid asset depreciation. As soon as someone tries on a pair of shoes, the value goes down. As soon as they are worn and collect a spec of dirt, they go down even more.
Collectors may keep multiple pairs at a time brand new or “deadstock” for potential selling or trading purposes in the near or distant future. Although sneakers do not depreciate as dramatically as cars, there is still a major benefit of holding pairs that one may be unsure of wearing.
Major collectors may have multiple pairs to keep on ice in order to potentially get some grails in the future. The sneaker market is constantly fluctuating. One particular pair of sneakers may be worth under its retail price currently but could skyrocket in value in only a few years. The reverse is also true. Sneakers that are extremely high in resell value now may drop significantly after some news comes out or more pairs are released.
Sneaker values all over are forever changing; very few sneakers stay stagnant in the secondary market. Market changes include countless ups and downs with little periods of inactivity. Companies such as StockX and GOAT allow buyers and sellers to track sneaker prices in real time- just like the stock market. The analysis of resell performance on the secondary market will continue to become more widespread as countless individuals are looking for unconventional ways to invest their money.
Collecting Sneakers: Unique Personalized Collections
Sneaker collections speak volumes on how an individual expresses themselves. Some collectors may strictly stick to Jordans, others may be more favorable to other labels like Adidas, New Balance, Reebok, Saucony, or Asics. A collection shows someone’s personal style; sneakers are a form of expression that have evolved over numerous years.
A sneaker collection goes far beyond materialistic aspects. Someone may cherish particular pairs because of the stories tied to them. For example, a pair of sneakers may have been a sought after grail that someone could not afford when they first got into shoes. Another collector may look to keep sneakers in their collection that were obtained through camping out all night or through months of saving up hard earned cash.
People express their styles when they wear sneakers unique to them. At the end of the day, no two collections are exact. Unique collections showcase various colorways, materials, and brands. Stories run abundantly among sneakers; more pairs ultimately leads to more stories that add another layer of distinctiveness.
Know Your (Sneaker) Worth
At the end of a day, collecting sneakers is an expensive yet rewarding lifestyle. If you find yourself to be a nostalgic and/or sentimental person, a collection will hold more weight compared to someone who is more concerned with materialistic aspects. Sneaker collections bring out the best of meaningful memories and stories and help people express themselves in a healthy way.
The worth of a sneaker collection cannot be determined easily. Some may not appreciate your collection as much as you do, but who cares what other people have to say about the shoes you collect and wear?
Know the worth of your collection (both literally- in terms of monetary value for any insurance or trading reasons and figuratively for the greater meaning of all the sneakers). Nobody can ever curate the perfect collection for someone else. A collector knows what will work best in their sneaker collection more than anyone else. Wear and collect what you like. Keep it simple.
