Young adults and fashionistas all over Australia are all pouring in on auctions and sneaker sales to get the best grab they possibly can. The reason for such a hassle? An unlikely investment trend that has garnered attention in the last few years and is gaining traction, allowing for the possibility of a significant market shift in fashion sales. Buying rare sneakers in Sydney and selling them for a higher profit to sneaker collectors and buyers of rare pieces isn’t uncommon but has gained a lot of demand from budding investors and shoe sellers alike.
Sneaker culture in Australia is on the rise, and the market has paved its way into a highly competitive arena of supply and demand. A good pair of kicks is a considerable investment, and if it’s an authentic piece, the price is what the seller demands, more or less. But first, take a look at what makes sneakers a valuable investment in Sydney:
1. Every pair of sneakers have an emotional story behind them. Maybe the player wore them for their first game, or it was used by the player to score their first shot or their first goal. Whatever the case may be, the more the emotional attachment these sneakers have with the people, the higher their market cap will be and this isn’t just an exaggeration.
2. Some of these sneakers are extremely rare, spawning from a limited edition series owned by a small minority of sellers. Most of these pairs have hit the auctions at more than 10 grand, 50 grand and even more.
3. For collectors and those who display or deal with art showcases, a pair of rare sneakers in Sydney is a luxury collectable. Referring to the emotional attachment mentioned above, people will flock to gape in awe at the legendary pair that great players used to wear to ravage the courts.
4. Endorsements by popular celebrities or major shoe manufacturers and companies also raise the value of the sneakers, but that depends on the customer demand, which will set the final price.
Although some of these buyers treat sneakers as just an investment, some will search and explore the stories behind them. For the latter, these aren’t just shoes but pieces of art, a fragment of the game culture that is still prevalent in the world today. Many prominent Sydney based professionals have used the sneaker culture to influence their work and way of life.
Many cities across Australia have implemented various authentication processes to track down fake pairs of kicks making their rounds and duping first-time buyers. Warehouses in Sydney are now working as authentication centres where they will tag and certify the products before delivering them to their respective customers.
Hindrances To Sneaker Sales In Sydney:
- The rising number of counterfeits in the market is a problem, and those that could not identify the difference are more likely to fall prey to it. The best way to identify the fake ones from the real ones is to go through the stitching and the materials used. According to the experts, the fake ones will use inferior materials to pinch pennies. Those that use online platforms should be wary of such fake variants being circulated in the market.
- The hype for certain pairs of kicks is detrimental to investments as hype doesn’t last long in the market. Once the peak price is reached, the price either drops significantly or plateaus to an average which will never change much for years. Such instances make sneaker markets in Sydney, and Australia as a whole, a very volatile one.
- Lack of proper storage facilities available for many sellers and buyers also affect the sales of rare sneakers in Sydney. Yellowing due to lighting conditions and distortion of colour and texture are two of the most common problems faced by collectors when storing sneakers for longer periods.