Sneakers, a better financial investment than stocks?
By now, most people are well aware that wearable fashion—clothes, shoes, bags, purses, and cosmetic jewelry—has very little resale value and is not considered a real financial asset.
Sneakers are the exception.
For folks like 25-year-old Sam Sheffer, shoes are part fashion and part financial investment. Over the past 10 years, he estimates that he has spent thousands of dollars maintaining and updating his sneaker collection. He says it’s actually a safer bet than buying stocks.
There’s not one pair of sneakers that I bought that has gone down in value,” Sheffer said. “There are some shoes I spent $200 on that I can get $800 for.”
The sneaker market is surging
Just last year, the U.S. sneaker industry grew 8 percent to $17 billion and the resale market is estimated to be just over $1 billion a year.
Campless, a company that has dubbed themselves the “sneakerhead data company”, follows and provides analysis on more than 13 million eBay auctions. They report on a wide variety of sneaker statistics. According to their website, at premium resale value some sneakers are resold for as much as 4,000 percent above their the original price.
There are currently no other financial investments reporting that kind of return. Read more.
Featured image by ric_man on Wikipedia.