Getty/Jeremy Moeller
- Sneaker resale is booming. It’s now estimated to be a $2 billion market, according to Cowen & Co. estimates.
- That market is projected to triple in size over the next several years, reaching more than $6 billion by 2025.
- With the help of StockX, Cowen compiled a list of the most sold sneakers on the platform over the last year.
Sneaker collecting is becoming an increasingly common pastime, and it’s fueling a secondhand market that is exploding.
Sneaker resale is now estimated to be a $2 billion market, according to Cowen & Co estimates. It’s projected to triple over the next several years, reaching more than $6 billion by 2025.
Almost all of that market is led by sneakers produced by Nike and, to a lesser extent, Adidas, which create rare and highly sought-after models that command prices reaching as high as $50,000.
While sneaker resale started out as a way to cop extremely rare, collectible kicks, most of the shoes actually sold in this way are less than $300 and have been restocked multiple times, according to StockX data provided to Cowen. The data covered StockX’s most popular models in the 12 months ending in March.
Another observation: seven out of the 10 most commonly resold shoes are made by Adidas, specifically its Yeezy sub-brand in collaboration with Kanye West. The other three are made by Nike, but, again, specifically by its Jordan sub-brand that started as a collaboration with Michael Jordan.
Here were the most commonly resold sneakers in the last year:
All price information is courtesy of StockX via Cowen and effective March 26.
10. Adidas Yeezy Boost 350 V2 Sesame
StockX
Number sold: 24,724
Lowest ask: $271
Another minimal colorway of the 350, this one was released in November 2018 and retailed for $220.
9. Adidas Yeezy Boost 350 V2 Static
StockX
Number sold: 24,877
Lowest ask: $303
One of the more interesting 350s ever released, the stripe down the side is see-through, meaning observers can tell what kind of socks the wearer is pairing with these sneakers that were released in December 2018 for $220.
8. Jordan 1 Retro High Shadow (2018)
StockX
Number sold: 27,236
Lowest ask: $218
Released in April 2018, these $160 "high shadow" sneakers use a black-and-gray colorway that rarely appears on Air Jordan 1s.
See the rest of the story at Business Insider
See Also:
- Nike reveals a new form of tech to find shoppers’ perfect shoe size
- McDonald’s confirms it’s bringing international hits to the US — here’s what’s on the menu
- Teens are making thousands of dollars selling secondhand clothes and accessories on this social shopping app. Here’s how it works.
Source: Business Insider – dgreen@businessinsider.com (Dennis Green)