Sneakers can price more than their retail price for a variety of reasons, including:
- High demand and limited supply: This is one of the most common reasons why sneakers sell for more than retail. When there is high demand for a particular sneaker and a limited supply, it can drive up prices. This is especially true for popular collaborations and special editions. For example, in 2020, Nike released a limited-edition collaboration with Supreme for the Air Jordan 1 Retro High. The sneakers were released in a limited quantity of 1,500 pairs and sold out quickly at retail price. Resellers then began selling the sneakers on the resale market for thousands of dollars.
- Resellers: Resellers are people who buy sneakers at retail price and then sell them for a higher price on the resale market. Resellers often use bots to help them purchase sneakers quickly and efficiently. They may also target popular release dates and locations. Once resellers have purchased the sneakers, they will list them on resale platforms such as StockX and GOAT. Buyers who are willing to pay more for the sneakers will then purchase them from resellers.
- Hype: Hype can also play a role in driving up sneaker prices. If a particular sneaker is getting a lot of attention on social media or from celebrities, it can lead to increased demand and higher prices. For example, in 2021, the Nike Dunk Low became extremely popular among sneakerheads and celebrities. As a result, the prices of Nike Dunk Low sneakers skyrocketed, with some pairs selling for hundreds or even thousands of dollars over retail price.
- It is important to note that not all sneakers sell for more than their retail price. In fact, many sneakers sell at or below their retail price. However, the sneakers that do sell for more than retail are typically the most popular and sought-after sneakers. These sneakers are often released in limited quantities, have popular collaborations, or have been hyped up on social media or by celebrities.
There are a few reasons why people buy sneakers for more than retail price. Some people simply want to wear the most popular and sought-after sneakers. Others may collect sneakers as a hobby or investment. Still others may buy sneakers to resell them for a profit.
If you are interested in buying sneakers that are selling for more than retail price, it is important to do your research and be aware of the risks involved. There are many fake sneakers on the market, so it is important to buy from reputable sellers. You should also be prepared to pay a premium for popular and sought-after sneakers.
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