Has the sneaker game gone too far?
March 8, 2018
Imagine waiting in line for hours, entering raffles using four different email accounts, marking your calendar weeks in advance, and spending up to $240 or more on a single pair of sneakers.
Many would think that’s insane, however, what if I told you that you could resell those sneakers for 2 to even 5 times what you bought them for?
This process of extensive waiting, which has been around since the early 2000’s, has created a new generation of “hypebeasts” who have started to pollute sidewalks near streetwear and sneaker stores.
Tommy Richards, a senior at the NYC iSchool, is always one of the first people in line to get clothes from latest drops. He recently was able to get his hands on the limited edition Golf Le Fluer Converse sneakers in blue and pink.
He was also lucky enough to get a pair of Nike X Virgil Abloh’s Off White Jordan 1’s, currently reselling for $1,000. “Yeah, it’s pretty fun for me to wait in line while meeting other people with the same interests as me.”
It all started in 2006 sneaker forums like Hypebeast and with influencers like Pharrell and Nigo rose to popularity through their personal work and new clothing brands. Streetwear brands like The Bathing Ape and Palace created a new breed of sneakerheads who will go through anything to get the shoe they desire.
12 years later in 2018, many more people are now buying shoes and clothing for their resale values, thanks to the mainstream media that these brands are receiving.
According to the Michael J. Fox Foundation, about 1,500 pairs of special Back to the Future shoes were released in 2016 through Nike’s raffle system. Millions purchased $10 raffle tickets in hopes of winning a pair of Nike MAGs. In the end, they raised a total of $6.75 million for the Michael J. Fox Foundation. You could have bought these shoes for a couple hundred dollars but the resale community has made this shoe one of the most expensive, with a new value of $10,000.
Grailed is an online marketplace for men’s clothing in which you can buy and resell things previously bought from notable brands such as Supreme or Yeezy.
The word Grailed comes from the word grail which means “a thing that is being earnestly pursued or sought after.” The purpose of Grailed is to help people find “that perfect item, especially at the right price.”
Rex Ruben, a freshman at the NYC iSchool, recently got the new Yeezy V2 2.0.’s. “I got my Yeezys through the Grailed app and was lucky enough to find a pair for retail (about $240).” However, Rex doesn’t resell on his own, but rather wears his shoes around the NYC iSchool.
As of 2018, Grailed has become one of the biggest online resale marketplaces with Bay being in first place. Through Grailed, students can make sums ranging from $25 to even $25,000 depending on consistency of resale.
Zac Brody, also a senior at the NYC iSchool, is very involved in the resell business. “I started reselling clothes in order to get myself a little extra money when I didn’t have a job. The resell business can really benefit the people who do it wisely.”
Reselling clothes for profit may sound like a good way to make money but when it comes down to making that guap, sellers have to take in consideration the shipping cost which will vary upon location, the actual cost of the item, and the fees taken from the selling sites. In the end, the net profile may actually only be $100