Sneakers are more than just a fashion accessory – they have become a form of investment for some. With rare models selling for thousands of dollars, it's clear there's money to be made in the sneaker world. But what do you need to know before you start investing in sneakers? Here are a few points to consider:
1. Knowledge is power As with any investment, it's important to do your research. You not only need to know which sneakers are popular with collectors, but also why. Learn about the different brands, models and what makes some sneakers more valuable than others.
2. Rarity is important The rarer a sneaker, the higher the price will generally be. Limited edition models or sneakers released in collaboration with celebrities are often the most valuable. Try to score these during drops or announcements.
3. Condition matters The condition of the sneaker can vary greatly and this affects the value. 'Deadstock' or unworn sneakers are the most valuable, but sneakers in good condition can also be worth a lot. It is important to properly care for and store your sneakers to maintain their value.
4. There are risks As with any investment, there are risks associated with investing in sneakers. The value of a pair can fluctuate based on various factors, such as changes in the popularity of the brand, model or collaboration partner. That's why it's important to diversify and not put all your money into one pair.
Investing in sneakers can be a fun and potentially profitable venture, but it's important to do your research and make wise choices. As with any investment, it is important to know your risk tolerance and make appropriate decisions.