Skip to navigationSkip to content
The Travis Scott Jordan 1s is the sort of shoe made for the resale market.

Sneakers are not just shoes, they’re an asset class

Every day, more than $3 million worth of merchandise moves through, an online reseller of luxury goods. About 75% of it is sneakers.

The shoes, pre-owned but in new condition, trade hands between sellers and buyers who will pay hundreds, even thousands, for rare shoes. A pair of Jordan 1s from Nike’s recent collaboration with Travis Scott, for instance, routinely sells for more than $800, while in February, the average selling price of the Nike Mars Yard 2.0, created with artist Tom Sachs, broke the $3,000 mark. A flood of supply, meanwhile, can tank a shoe’s price, as happened with some other Jordan models when Nike increased their distribution, and with Adidas’s Yeezy Boost 350 in Cream after the brand did a wide release of the shoe in September.

The Mars Yard 2.0.

You are reading a Quartz member exclusive.

Become a member to keep reading this story and the rest of our expert analyses on the changing global economy.

Why we think you’ll like it: