Every day, more than $3 million worth of merchandise moves through StockX.com, 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.