The new Air Jordan 11 Retro “Legend Blue” sneakers, which became available for purchase on Dec. 20, 2014, cost $200, and most likely will sell out. In fact, countless young men and women slept outside for the opportunity to win the golden ticket to purchase them.
Many people wonder how someone could spend a small fortune on sneakers, but according to The Root, there are some legitimate reasons to fork over $200 an up for a pair of unique kicks.
–Sneakers are considered art by some. People spend a fortune on art in the form of paintings and sculpture, so why not on limited editions sneakers?
–Paying retail for them are the cheapest option. One of the main reasons people line up for hours to purchase “limited edition” models is that only a certain number of them are sold in stores at the market price. That’s less expensive than bidding for them on eBay.
–You can make a lot of money flipping sneakers. The sneaker resale market is valued at about $1 billion, according to recent estimates. Many people by sneakers as soon as they hit the market, and then sell them online. Sometimes the markup is 100 percent or more.
“It’s a dynamic, complex business that gives enterprising sneakerheads one hell of a return on their investment,” reports The Root.
