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These are the most expensive sneakers to be resold in the last year as the sneaker-resale market explodes
These are the most expensive sneakers to be resold in the last year as the sneaker-resale market explodes
Dennis GreenApr 17, 2019, 00:18 IST
Reuters/Danny Moloshok
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Sneaker resale is booming. It's now estimated to be a $2 billion market, according to Cowen & Co estimates.
It 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 expensive sneakers sold via resale over the last 12 months.
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.
These limited releases often cause hype when initially launched, and they have a long tail as the shoes continue to be bought and sold on secondary platforms like StockX, GOAT, Flight Club, and Stadium Goods.
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The most expensive shoes being traded right now are almost all shoes that were extremely hard to get in their initial run. Some were not even sold to the public, and hence, are now extremely rare.
Here are the most expensive sneakers to be sold via resale in the last 12 months:
All price information is courtesy of StockX via Cowen and effective March 26.
This collaboration between Adidas, Chanel, and Pharrell Williams hit the market in 2017. They were sold via raffle exclusively through a Chanel pop-up shop in the trendy Colette boutique in Paris.
Jordan 5 Retro Transformers
Lowest ask: $6,500
Average sale: $7,600
Release date: June 29, 2017
Originally created in 2017 for Mark Wahlberg to celebrate the release of "Transformers: The Last Knight," sample versions command high prices on reselling websites.
Nike MAG Back to the Future (2011)
Lowest ask: $8,200
Average sale: $8,163
Release date: September 8, 2011
Designed to be a near-exact replica of the shoe developed by Nike to feature in "Back to the Future Part II" in 1989, Nike made and auctioned 1,500 pairs of the shoes on Ebay to fund Parkinson's disease research. Now, they sell for even more.
Jordan 3 Retro Legends of Summer
Lowest ask: N/A
Average sale: $8,500
Release date: September 1, 2013
An extremely limited release, this sneaker was worn by Justin Timberlake and Jay Z during the 2013 Legends of Summer tour. They were only given to friends and family, and very few fans got a pair.
Created by Jeff Staple, this shoe may have singlehandedly made sneaker culture what it is today by creating a mania that was heretofore unseen. Only 202 were released, each with the bird on the rear quarter meant to symbolize New York City.
Fewer than 200 pairs of this shoe exist. Created for the traveling "White Dunk" art exhibition, they feature artwork from the French painter Bernard Buffet.
Jordan Kobe PE Pack 3/8
Lowest ask: $50,000
Average sale: $24,000
Release date: February 14, 2016
Designed to be a tribute to Kobe Bryant's two decades in the NBA, the shoes used Los Angeles Lakers colors. They were never released to the public, but some friends and family got their hands on a pair, and there was a charity auction on Ebay.
Nike MAG Back to the Future (2016)
Lowest ask: $50,000
Average sale: $24,000
Release date: October 4, 2016
Another release of the Nike MAG, this version commands a higher price due to one simple fact: it has automatic lacing, just like the shoe did in the "Back to the Future" movie. The shoe came with Nike's Adaptive Fit.
