The hype is real and its been real for the last 3 years.
So where can you make triple the value of money on cost besides the stock market? Practically nowhere and today we have an example of a product that gets used daily by hype beast people. The product I want to discuss is the Adidas Yeezy sneaker. I have to be honest at first I was not a big fan of the shoes as they looked a bit like moon sneakers. But after seeing them for a few years now I can actually say they are not too bad, but I still will never wear a pair. Why must you ask, because I understand the value of a dollar? This is why Wearing Yeezy Sneakers is not Financially Smart.
If you can compound your money to the tune of 3 times the retail value in a matter of a few hours it confuses me to think why not try to sell it and make a killing.
Wearing Yeezy Sneakers is Not Financially Smart
Retail Price 200 – 350 Depending on the model.
Dead Stock Resell Value 450 – 2500
Used Resell 200 – 700
It takes an average of 7 years to double your money in the stock market depending on the rates of return. But this sneaker doubles and sometimes triples the moment you have them in hand. But if you wear them, the value shoots back down. If you maintain an entrepreneurial spirit you can realize a profit fairly easy.
If you can manage to rock them on occasion while cleaning them diligently, to eventually flip them for a decent markup, then by all means do that. The used value for some of the yeezy’s is supposedly good enough to get back what you paid, with the little research I did for several models like the turtle dove edition. This mentality is not as financially backwards, but still does not yield you the best results compared to selling a pair brand new.
If you prefer to floss or be a hypebeast poster child be my guest and wear them, it still coincides with not being financial savvy. I see young kids wearing these expensive shoes, and I believe mom, dad or even grandma paid the bill. As most of these kids are buying them for resell prices 400+ dollars. No full time job and paying 450 or more for sneakers is pretty crazy, but this is the hype world we live in now. Back in the day sneakers never cost my parents more than 70-80 dollars on the high end. Times are changing I guess, but it still begs to answer a simple question, is wearing this yeezy sneaker a smart financial move?
Tweet ThisObviously if you are a baller who makes 3 times the average income(150K) and you have money to burn, then by all means have fun. Those who still live with the bank of mom / dad without rent while working full time, be my guest and floss for that imaginary audience. Any way you slice it no matter the income, the choice to rock these sneakers in the streets is not the best financial move you can make.
Comment on why Wearing Yeezy Sneakers is Not Financially Smart
Rich Uncle EL
I'm not a sneaker head, so speaking a few hundred dollars on them never made sense to me. I don't like to send a lot on depreciating assets. People resell and wear other peoples sneakers? Smells odd to me. 🙂
Lol yes sometimes they wear and resell but for the most part sneaker heads take care of certain pairs if they plan to flip them later. As far as smell that is horrible, and would recommend people buy shoe deodorizer prior to reselling if they have those issues. The real resellers don’t wear exclusive sneakers if they plan to make a decent profit. Thanks for commenting, good laugh.
I have to admit that I don't know as much about the sneaker market as I should. I have been reading up on though and read the other day that the Nike resell market is higher than the #2 sneaker brand, sketchers, which floored me. I do wonder if there will be a flood of "investors" which will put sneakers out of reach or worse a bubble in the market in years to come like baseball cards. But I guess we'll see.
Yes it is pretty insane sometimes the sneaker prices. As always depends on the style and how limited it is. Sneaker resellers are making good money if you buy right and understand the market.