Are Sneakers Worth Collecting? 3 Reasons To Collect Sneakers
Read this if you're thinking about starting a sneaker collection or reselling...
Sneaker collecting has gained popularity through social media and associations with professional athletes, celebrities or culturally relevant brands. Terms like sneaker head are used to describe those people that dedicate their lives to their sneakers.
If you’ve been paying attention to resale prices, limited availabilities and the level of hype that surrounds a hot release, you might be wondering are sneakers worth collecting?
If you’re a collector or reseller then sneakers are worth collecting. Typically, sneakers are collected for sentimental reasons or their monetary value. In both cases, a curated collection can hold a tremendous amount of value to it’s owner(s).
#1 Sentimental Reasons
Before reselling and sneaker marketplaces existed sneaker collecting was primarily done for sentimental or personal reasons. Fuelled by sneaker heads, defined by the Oxford dictionary as a sneaker enthusiast, but there’s more to it.
Some of the best collections are from genuine sneaker heads. A collector’s line up might be the most important part of their life. For them you can’t put a price on their collection. It’s not even about the money.
It’s about the brand associations, specific colorways and silhouettes. When the AirMax 720’s released, I did everything I could to get them all. Nobody else wanted them, but me.
What motivates us is personal obsession, the story behind the product or in many cases the fear of looking broke.
Sneakers are a big deal in many communities and real sneaker heads have influence. Stunting on their peers and setting the trends. The competitive nature of sneaker culture inspires us to accumulate our collections or develop sneaker related rituals.
How do you put a price on an extensive collection of the late Kobe Bryant’s signature sneakers from partnerships with both Nike and adidas? Or Jumpman Bostik’s personal collection of Jordan history?
Sentimental value can’t be explained in numbers. When a fan collects Jordans, Bapestas, or Yeezys it’s deeper than how much each pair sells for on StockX. A single pair of Vans wont get you thousands but a 20+ year collection is museum worthy.
#2 Monetary Value
The strongest case for collecting sneakers is the monetary value. If curated well a sneaker collection could potentially be worth millions of dollars. Monetary value fluctuates with the market but value based sneaker collecting or reselling has proven lucrative and opened doors to other opportunities for many people.
A single pair of sneakers could go for thousands. For example the Back To The Future inspired Nike Air Mag fetched up to 10K at auction. In today’s market offers stand as high as 20K.
Celebrity, cross-brand or pop culture collaborations are among the most coveted of all sneaker drops. The resellers wanna flip em and the die hard collectors will do anything to get them.
Even a general release can increase in value. In some cases retail prices have doubled in the last 10 years. For example, retro Jordan releases and that’s before hitting the resale market.
Resale Value
Reselling is another reason that people collect sneakers. Videos online make it look easy, but between the fake sneakers, backdooring at sneaker shops and bots, it’s really hard for the average reseller to acquire stock. Often, it’s a network of resellers utilizing the bots in the first place.
In the past, I've plugged in with managers at a local Foot Locker to get sneakers and the employee discount. Now days everything is online and some locations won’t even see a general release in store.
For a reseller it’s not the personal attachment, it’s the money. Turning a profit or grow the business. That’s a lot of pressure to stay ahead of the market and cop’ the right kicks.
As with sentimental collectors the celebrity or cross brand releases are the most coveted. According to Stock X’s 12 month historical data, Eminem’s Jordan 4s resell for an average price of $7,447 US. To this day Kanye’s Red Octobers are some of the most coveted sneakers in the game.
The value of a pair of sneakers is determined by market demand so resellers make use of platforms like Ebay, Goat and StockX or sell directly to people in person or via social media. Each platform has its benefits and issues but that’s a discussion for another day.
Ultimately a resellers success is in their ability to continuously get rare or under priced sneakers. If you’re plugged in or hungry, your sneaker collection could 10x your initial investment. You might not get as rich as YouTuber Money Kicks but it could change your life.
#3 Other Opportunities
It doesn’t matter if your collection is sentimental or strictly for resale purposes. Collectors able to build an audience and notoriety around sneakers open themselves up for other paid opportunities and experiences like monetizing a YouTube channel or podcast, becoming a social media influencer, sponsorships and special invites to parties and events.
Monetize a YouTube channel or podcast
With your insane sneaker collection, you’ll have several opportunities to produce content for a YouTube channel or podcast. It’s not guaranteed and might require a bit of investment but a serious sneaker collection gives you a good starting point for building a platform around any aspect of sneaker culture.
It can also land you interview or feature spots on other industry related channels or podcasts. People want the stories of collectors and resellers, their journeys, successes and failures.
Become a social media influencer
Similar to building an audience on YouTube or with a podcast, you can use sneaker content to build a following on social media. Whatever your preferred platform, use your collection and experiences to connect with other members of the sneaker community.
Other like minded sneaker heads will find your content, engage with and follow your account if you’re dropping quality. It’s another pivot from the sneaker game to the content game but helps even more if you’re trying to resell or obtain brand sponsorships.
Sponsorships & special invites
Other perks that can make collecting sneakers worth it are the potential brand sponsorships and other special invitations. Notoriety and an audience can mean big money for advertisers looking to tap into your following. Brands are often looking to lock influencers into long term business deals.
Once your known for your collection you’re more likely to get VIP access, limited releases and invitations to some of the hottest events.
Final Thoughts
There’s a lot of hype online about sneaker collecting and reselling. The get rich quick videos, super success stories and celebrity photos wearing the latest sneakers might have you thinking it’s all glamour and kicks.
If you’ve been considering starting a sneaker collection for instant success you’ll likely end up disappointed and out a bunch of money. The best collectors do it out of love. The best resellers are collectors who figured out a way to make money off what they were already doing.
FAQ,
Do sneakers go up in value?
Some sneakers have the potential to increase in value. Condition and demand (are they coveted or rare) for the sneakers contribute most to the after market price. Limited releases and cross brand or celebrity collaborations have the potential to increase exponentially. Alternatively a cohesive collection of sneakers can increase value.
How many sneakers is considered a collection?
Technically a collection is 3 or more pairs of sneakers.
Are sneakers an investment?
Stock X changed the perception of sneakers by introducing a system to track sales data like a stock exchange. Many people now consider sneakers an investment but we recommend thinking in terms of value based collecting vs. traditional investing.
Are sneakers worth investing in?
Although people may consider sneakers an investment, I suggest thinking in terms of value based collecting vs traditional investing. The sneaker industry changes fast, trends change fast; so choosing the right sneakers to collect is key.
What is the point of collecting sneakers?
Sneaker collecting is motivated by an individual's passion for sneakers or monetary reasons.
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