Meet the sneakerheads driving the massive $1 billion resale market

Share
HTML-code
  • Published: 31 May 2016
  • Sneakers are a $55 billion global industry. According to sneakerhead data website StockX, the secondary market for rare and limited-release sneakers is estimated to be worth over $1 billion. This is fueled by Nike and its long standing Jordan brand. People wait in lines for hours and spend tens of thousands of dollars just to get their hands on the latest pair of sneakers.

    To understand the world of sneaker collectors — better known as "sneakerheads" — we spoke with those who know it best, including collector Lex Sadler and dealer Jae Tips, top New York City resellers Flight Club and Stadium Goods, as well as SOLEcial Studies teacher Fresco Wilson.

    Produced by Josh Wolff and Sam Rega. Hosted and edited by Josh Wolff. Executive produced by Diane Galligan.

    --------------------------------------------------

    Follow BI Video on Twitter: bit.ly/1oS68Zs
    Follow BI on Facebook: bit.ly/1W9Lk0n
    Read more: businessinsider.com/

    --------------------------------------------------

    Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.
  • Sport Sport

Comments • 1 344

  • Jo S
    Jo S  6 days back

    Alll insecure morons who need to buy overpriced sneakers to fit in lmao

    • Juan Pena
      Juan Pena  2 days back

      You Have The Nerve To Call Other
      People " INSECURE MORONS " It
      Sounds To Me, That Your INSECURE W/ YOURSELF You Have ISSUE'S You Have To
      Work On.DAMN!!

    • Juan Pena
      Juan Pena  2 days back

      @Jo S, Don't Worry About It, Did
      Anyone Ask You For " MONEY "
      To BUY A Pair Of Shoes !!

  • JBL retlav
    JBL retlav  1 weeks back

    Francesco lookslike DaBaby

    • GoonerKIRK
      GoonerKIRK  1 weeks back

      Wish I could FIND THE IVERSONS!!. ANYONE KNOW WHERE I CAN FIND THE RED IVERSONS??!!. I HAD A PAIR GROWING UP AND I WANTED THEM!!

      • Best in AMAZON
        Best in AMAZON  3 weeks back

        I have to turn the volume down because I don’t want anyone thinking I’m beating my meat

        • Demonetized
          Demonetized  4 weeks back

          Mom, don't sell my shoes for 2 damn dollars

          • SMERKUZHEO G
            SMERKUZHEO G  4 weeks back

            HI.

            THANK YOU FOR UR HARD WORK!

            I WANT TO GET INTO THIS BUT I USUALLY ONLY BUY WHEN THE SHOES ARE (ON SALE)..

            BUT I SEE MANY GUYS PAY FULL STICKER PRICE OR EVEN $50 MORE!...

            EXAMPLE: MSRP IS 250.
            A GUY PAYS 300 FOR THE PAIR & SELLS THEM FOR "600" SUPPOSEDLY!..

            WHAT I DONT GET IS...

            (WHO) THE HECK PAYS 600 FOR A PAIR IF SHOES WITH A STICKER PRICE OF $250?...

            (HOW) DO THE SHOES GO UP IN VALUE?

            SOME GUYS CLAIM THEY PAID 300 FOR 80 PAIRS OF JORDANS WITH STICKER PRICE OF 250
            (SO $50 OVER MSRP)...

            THEN THEY CLAIM THAT THEY SOLD ALL 80 PAIRS FOR IN 2 DAYS FOR $600 EACH SO 300 PROFIT x 80 pairs
            = $24,000 PROFIT SUPPOSEDLY...

            FOR ONE, (WHO) BUYS THOSE SHOES FOR 600?
            (350 OVER MSRP) EACH?

            MAYBE SOMEBODY WHO LIVES IN AN AREA WHERE THOSE SPECIFIC SHOES ARE NOT AVAILABLE AKA "RARE"?

            SEEMS LIKE ALL THE PROFIT TO BE MADE WOULD BE GONE AT THAT POINT K NO?

            AM I MISSING SOMETHING HERE?

            THANX

            ANYBODY KNOWLEDGABLE PLEASE REPLY SOON

            • Thomas Daly
              Thomas Daly  1 months back

              i wish that i had a shoe class at my school

              • Hevee Rhebel Media
                Hevee Rhebel Media  1 months back

                Yall should check out this shoe
                https://www.aliveshoes.com/god-n-d-flesh-4

                • jason hayter
                  jason hayter  1 months back

                  dope dealers selling sneakers. glad im in canada

                  • screenc4p
                    screenc4p  1 months back

                    Bro resellers are lame. They are destroying the business. I understand selling shoes here and there but straight up scamming buying the most pairs every release to make a couple bucks is lame. Killing the hype for ppl who actually have a true passion for shoes and aren’t able to get it because of resellers.

                    • mena seven
                      mena seven  2 months back

                      cool business

                      • Jboi Eri
                        Jboi Eri  2 months back

                        The copy in the beginning got lowkey annoying asf

                        • Keezy TV
                          Keezy TV  2 months back

                          Who pays Flight Club prices? 🤷🏻‍♂️

                          • michael matthews
                            michael matthews  2 months back

                            Real men don't do shoes

                            • R-Wun718
                              R-Wun718  2 months back

                              Sneakerheads? you mean resellers I don't have anything against resellers but these dudes are resellers bruh. I feel like whenever any mainstream news outlet does these kinda stories they always misconstrue a whole lot of shit.

                              • The Jimmy Swaggart Show
                                The Jimmy Swaggart Show  2 months back

                                Classic tulip mania

                                • Beatriz Correa
                                  Beatriz Correa  2 months back

                                  Im mad dude said back then Jordan’s weren’t popular🤔!?!?! Yea I ain’t taking info on a guy that don’t know his info, especially not a class! 3 years later and UA is still not popular

                                  • alex sanchez
                                    alex sanchez  3 months back

                                    Hate resellers hope they all die

                                    • leesuper73
                                      leesuper73  3 months back

                                      The end customer are kids with no money....

                                      • Clipzz
                                        Clipzz  3 months back

                                        turn this dumbass background sound off

                                        • Jean Valdes
                                          Jean Valdes  3 months back

                                          Why isn't the curry's going to be popular in the future? For the same reason no one gives a shit about the Iversons or the melos or the Patrick Ewings. Yeah sure, The Curry's might be around like the Kobe's and rven KDs but never like Jordan if anything LeBron might come close if anything.

                                          • Juan Mercado
                                            Juan Mercado  3 months back

                                            This is dumb. Those are just shoes

                                            • Chalo Charity kare
                                              Chalo Charity kare  3 months back

                                              Anyone wanna give my sneakers a try
                                              Remember only one pair.others will buy after review of that guy/girl😊😊

                                              • Chalo Charity kare
                                                Chalo Charity kare  3 months back

                                                Little more than retail.will send multiple pics for legit check❤️❤️

                                            • Gomboo Domboo
                                              Gomboo Domboo  3 months back

                                              This is shit man i was always in first person about 8 years ago there was no fkn resellers at that time. Now it’s fked up i dont even want to wear j’s anymore

                                              • Bobon Meiknob
                                                Bobon Meiknob  3 months back

                                                Meanwhile in other countries they quietly go to work every day, make the shoes, sell the shoes by the millions, put their kids through college, buy $10 million houses in the USA, while these spoiled American kids dream of living in shipping containers and garden sheds on wheels. Easy come easy go chumps. :-/

                                                • G Clarion
                                                  G Clarion  3 months back

                                                  We're doomed as a nation when morons like this are the go to people.

                                                  • FitWitz Gaming
                                                    FitWitz Gaming  3 months back

                                                    Did anyone see enimens sneakers?

                                                    • FuBaGaming
                                                      FuBaGaming  3 months back

                                                      Wait till they find out that it only cost around $30 to make the shoe lol.

                                                    • NEARMUSICBEATS
                                                      NEARMUSICBEATS  3 months back

                                                      2:20 "that's the most coveted sneakers you could ever want..." Them exact shoes are £95 at jd sports.

                                                      • Michael Alvero
                                                        Michael Alvero  3 months back

                                                        A sneaker class?!?! LMAO

                                                        • Joey & Erika
                                                          Joey & Erika  3 months back

                                                          I been collecting shoes for bout 20 years, from New York. And my problem is this has become a thing that people who truly didn't grow up in the culture have come in and made money off it. They already had money and basically colonized the sneaker culture. What this video won't tell is how bots are another who driving force of the sneaker culture. Since everything has gone online bots were created to increase chances of buying bulk of online product. So now only certain people have all the stock of the high energy release shoes. The video also says the shoe companies don't reap benefits of the resell which is also not true. They have figured out through marketing how to create a certain exclusivity buzz for particular shoes also releasing more shoes than ever so when they release shoes are being sold out immediately never sitting on shelves and here's the kicker they are then investing into the consignment shops for example Footlocker investment into goat. Eventually like most everything that gets hopped on and sucked dry because it's become saturation, the shoe culture will eventually die.

                                                          • Brian Smith
                                                            Brian Smith  3 months back

                                                            Half those sneakers are ugly af

                                                            • Ill will Ill will
                                                              Ill will Ill will  3 months back

                                                              Eminem 4= 30k $ ! Uhhm nah hell nah

                                                              • Pavel Yevseyev
                                                                Pavel Yevseyev  3 months back

                                                                Thanks to these resellers reps came in and man am I happy they did

                                                                • Kris Williams
                                                                  Kris Williams  4 months back

                                                                  kroasis.com has dope cloths

                                                                  • Chainte Forlorn-Shruggs
                                                                    Chainte Forlorn-Shruggs  4 months back

                                                                    Flight club be raping people wit they bullshit ass prices

                                                                    • Sandy Ly
                                                                      Sandy Ly  4 months back

                                                                      wholesale sneakers zxrtrade.x.yupoo.com ,whatsapp:+1-5677037108 ,skype:tina.pan59 ,[email protected]

                                                                      • swell elle
                                                                        swell elle  4 months back

                                                                        god please never use that clapping track again

                                                                        • Huncho Rolls
                                                                          Huncho Rolls  4 months back

                                                                          Payless > fightclub

                                                                          • David Banner
                                                                            David Banner  4 months back

                                                                            07:18

                                                                            Is that the best example y’all can come up with? I have nothing but love for curry but I saw his shoes @ Marshall’s for $39.99.

                                                                            You prolly won’t find Yeezy or nice Jordan’s there..

                                                                            • Eric Bravo
                                                                              Eric Bravo  4 months back

                                                                              Resellers are the reason the real consumer can't get the goods. 80% initial purchasers are resellers..bragging about how much they going to sell for amongst themselves on their way to getting the product. 😠😠

                                                                              • Eric Bravo
                                                                                Eric Bravo  4 months back

                                                                                @Blorgus I do! That's why I said what I said!!

                                                                              • Blorgus
                                                                                Blorgus  4 months back

                                                                                Eric Bravo do the work and get the shoes then

                                                                            • Your Name Here
                                                                              Your Name Here  5 months back

                                                                              Do whatever u want with ur money sneakerheads. But dont be complaining bout bills, rent and wanting higher wages.

                                                                              I got sneakerhead friends who always got the latest kicks. Dude owes $15,000 on his credit cards but he got yeezys lmao.

                                                                              • xyz xyx
                                                                                xyz xyx  4 months back

                                                                                That's sad. These are cheap. Like 20 USD for a good pair in Asia. And very high quality too

                                                                            • omarseedless
                                                                              omarseedless  5 months back

                                                                              i've never seen so many broke people look so rich!!! All that matters is looking fly for the present moment, but the future looks grim.

                                                                              • Sosa victor
                                                                                Sosa victor  2 months back

                                                                                omarseedless they can sell the shoe in the future doe

                                                                            • Uber Glamazon
                                                                              Uber Glamazon  5 months back

                                                                              Now don't the soles on these things usually just self destruct and disintegrate in like 10 years?

                                                                              • Brandon Clemmer
                                                                                Brandon Clemmer  6 months back

                                                                                Please check out my shoes! 😀
                                                                                https://www.aliveshoes.com/clem-wear

                                                                                • Tha God
                                                                                  Tha God  6 months back

                                                                                  Flight club! my favorite store in the city!!!

                                                                                  • Robloxastret1
                                                                                    Robloxastret1  6 months back

                                                                                    Had to mute my phone so fast

                                                                                    • Jérôme D.
                                                                                      Jérôme D.  6 months back

                                                                                      Yeezy's ugliest shoes in the world! I wouldnt buy em for 10 bucks!