The New York Times attempted to explain the art of sneaker flipping in a recent piece. The article described how teenage boys as young as 13 are making thousands of dollars by buying and reselling sneakers. They described the nature of sneaker conventions and how the teens who attend these events are extremely knowledgeable in markets, values, supply and demand. They compared it to selling stock in the sense of waiting for something to reach its most profitable point and then selling for money. One analyst said, “Reselling basketball sneakers has become a cultlike atmosphere…No one is watching over all this money changing hands. So it seems like it’s being done underground, but it’s perfectly legal. And it’s exciting to them because it’s a real form of income.” Some predict that sneaker trading will become more popular than trading baseball cards.
Read the story HERE