Meet the sneakerheads driving the massive $1 billion resale market

The retail price was 200 and I would say the average

resale

price is probably around: Ximena for $30,000 undefeated Jordan 4 is $19,000 I have a boy, you have a boy watching you. Actually, I don't have it. There is a kind of competitive drive. In this, and that's just getting something that other people can't, there's two sides to street research, if there's a release, I'm the person where you can get it quickly, you know, I live in New York City. The average sneaker line ranges from 150 to a thousand feet. People are passion and the

market

is bigger today than ever.

Our trips to the crazy world of sneakers. We're at Flight Club in New York City, downtown.

resale

economy and we are in the center of the center in its storefront, a small room with several hundred sneakers worth more than $100,000. This 11-year-old Soho store is known worldwide in the sneaker economy. Everyone is following the latest sneaker releases that are produced almost every week. The most popular of these new releases sold out and we immediately sold them out here. I think by far the most popular franchise is Jordan. Everyone comes here asking about them, probably shot or the line that started the whole sneaker craze I had. for the athletes there was Andre Agassi, it was Bo Jackson and Michael Jordan in particular, the products were incredible, but it was also the stories the irreverence of these athletes Nike continues to release updated versions of Jordan classics so far Nike and its competitors carefully. monitor supply and demand, but don't reap the rewards of reselling mania, you'll see every Jordan is in every sequential order ones, two, three, four, 5, 6, 7, 8, name it, we got it, this one it's our inspiration wall, just an original that is original Jordan, you shouldn't touch it, go ahead and touch it, it's an ode to the beginning here and in other resale stores you can only buy and sell the so-called perfect and unused pairs only what is there behind the glass here what is this? of the most coveted sneakers you'll probably ever want there's some kind of James Bond type security system built into the video there's definitely some James Bond security code behind it but if you're there no one can hear you scream is there a story you remember Who was happier?

There was a woman who must have been everywhere and couldn't get her pair and was literally crying she was waiting for us to open she couldn't believe we had her size looking for things and not finding it that's what we do and we make sure you find what you are looking for. Oh wow yes, water shoes, there are a lot of shoes. Lex Adler, a music producer from Australia, has lived in New York for more than a decade covering the walls of it. With his most prized possessions, he loves Jordans and Kanye West's popular Yeezys, which as idle stock can sell for thousands of dollars a pair.

If you can guess how much you would say your entire collection is worth, it has to be like, you know, twenty twenty. a thousand always yes but Lex wears his sneakers for him it is a passion that goes back to his youth there is a sneaker from your childhood pasture that you think of now like the one that ran away and the one that I lost was a pair of Nike Air, which was a basketball shoe, they have cross straps, I couldn't find them one day and I went to the local basketball courts and a boy was wearing a pair of his shoes and could I do that on my shoes and he said no, my sister bought them for me .

I said I know they're mine. I later found out that my mom sold them at a flea

market

for $2, so I was really mad that Nike and their competitor were selling new releases at retailers like Foot Locker and other stores where the lines snake around the block, you got a note, you got You know someone who can get them in the Internet age, everyone knows every website where every shoe will win, exactly when your chances of getting a limited shoe through conventional means or It's very, very difficult if you want a pair of a new one. launch, yes, it's worth it.

I have a jar, you have a boy, I have a real boy, you have a real boy, my runner, your runner, and I text him and ask him. If someone who hasn't had this, we'll sell a pair, we negotiate where it fits in that world that we sell on the street, if there's a release, I'm the person where you can get it quickly and you. I know it's always a little bit cheaper to buy it from me than to go to the flying club but when you're on the street that's all it has to be a relationship it has to be a genuine relationship like I'm your personal shopper to the extent that you're that guy, yeah, so when there's a sneaker drop, do you wait in line too?

Maybe I pay my friends like 10 dollars an hour to wait in line or maybe even a little more, it depends on how much money I can make from shoes. I worked through full lockers so I knew who got what. You would know how many pairs are shipping in New York City and which stores won't be the go-to stores, but that knowledge is something you should charge for how much money you think you've made in total over the last two years you started. I would say between 100,000 and 2,200 and I have been able to survive without having a job for anything cheap. two three years I can't see what they have here.

I know another guy making a killing is Jason Harp, an actor who was virtually a professional consigner, how did you get into consignment? One day he brought here a pair of shoes and he's old and I don't know three hours and he was $200 richer than when I first bought the shoes. The first thing that sparked my interest was not so much selling them but acquiring them. The harder it is to get a pair of sneakers, the more interested you are. They are absolutely 100% accurate. I will prepare to get a shoe depending on how it is released, sometimes for a month to access the things that come to my phone, probably 30 messages came in on time and I sat here on a shoe that I got on social media. media that I published in nothing the first rule was to talk to me on twitter listen don't talk you made a lot of money doing that how much money have you made?

It's in the six figures in Brownsville Brooklyn in this high school fresco Wilson is actually teaching a class on the economics of kids' sneakers for consumers number one, why not show them what they're getting into before they do it? Instead of just going out and spending your money at retail, why not invest in Nike? Why not invest in Ibiza? I try to give you some facets of Matt, but there are links to entrepreneurship, finance and marketing. Do any of you have a pair of Nike Dunks? The Nike Dunk was originally created for basketball with a campaign called Be True to Your School when we first heard about it.

It's like I sneak climb, what do you know, we learn about sneakers. Everyone knows that a sneaker, some other things, but Matt, in the class, we learned how to make money with our speakers, how to generate customers in different ways. We learned about backfill. Rita. It turns out that superstar Steph Curry's sneakers are selling out at retail stores and are boosting Under Armour's profits, but they're not even listed on the current resale market, at least not yet, and someone said Michael Jordan's shoes aren't They were as popular then as they are now why can't it be Steph Curry in the kitchen if the topics are not as popular now as you said why can't it be in the future it's about knowing how to value the investment my father has everything now my dad is a sneakerhead, he runs his closet, yeah he has a walk in closet and it's just a bunch of sneakers here next to the sneakers and he'll sell them at a higher price, he won't even touch them, You may love sneakers, but you have to know what you want.

The sneaker store just down the block from the flying club is stadium supplies and an upstart that's capitalizing on the resale industry going digital. We partner with eBay, where we place all of our inventory. Another partnership we have is with a sneaker app called Dope. Another big market for us as well, most of our inventory is there and we became a big driver of the business, plus everything I worked on for most of the 90s was there, at most an Air Max 90, two Air Max 95, this guy, right? here is the classic VW Air Max. I won't say it, but I can remember exactly what I was doing when I was wearing them in '91 or something.

How many pairs of sneakers do you think you have? Approximately 25,000 25 pounds, this must be one. from the world's greatest speaker 1:i we are opening a warehouse to never continually say no to sneakers if you want to bring a hundred pairs we will say yes if you want to bring a thousand pairs we will say yes I see The future of sneakers is very , very bright. This feature of sneaker resale is also very, very brilliant.