Coveting a pair of Travis Scott Jordans or Panda Dunks? You just might be able to snag them for a reasonable price in the resale market.
Coveting a pair of Travis Scott Jordans or Panda Dunks? You just might be able to snag them for a reasonable price in the resale market — quite a turnaround from a year ago.Price declines are signaling that the froth has left the market, leading sneaker heads and analysts alike to wonder if the market is crashing — or just normalizing.
"It got to a point in 2020 and 2021 where basically every single sneaker that released on [Nike’s] SNKRS app was selling out and going higher on secondary markets. It barely mattered what it was."As with most other asset classes, the changing macro environment — rising rates and the general risk-off mode — has impacted the flows of money into the space.Unremarkable shoes that shouldn’t be selling out and then popping to a 50% premium aren’t doing so anymore.
Resellers, especially those with scale, can still turn a profit — but it's harder for the fringe reseller to make much, Sykes says. "The fever pitch that the market was once at is gone ... I think we're finally starting to get back to a period of normalcy that we were once in, where you can resell sneakers and make a profit — but it's not going to be as crazy, and it's not going to be as profitable," he adds.
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