Pretty much everything Kanye West wears, designs or even touches tends to sell out. In doing so, the resale value of such products generally skyrockets. Accordingly, Footwear News has taken a look at how Ye’s YEEZY sneakers have boosted the resale market.
Kanye isn’t the only one boosting the value of his sneakers, though. A slew of celebrities ranging from Justin Bieber and Travi$ Scott to his Kardashian family members and Jay Z, among other notable individuals, help drive the demand for YEEZYs.
Most recently, an individual picked up a pair of Kanye’s light brown adidas YEEZY Boost 750s on eBay for a cool $10,099 USD, when the sneaker originally retails for $350 USD.
“Ordinarily when a shoe is selling for thousands of dollars on the secondary market, it’s because it’s very rare, and in the past year, there were 100 or 200 sold,” reveals Josh Luber, CEO of StockX. “For the Yeezys, there’s literally thousands of pairs being sold on the secondary market, and they’re still selling for thousands of dollars.”
As we mentioned, the YEEZY Boost 750 retails for $350 USD, while the YEEZY Boost 350 goes for $200 USD. According to StockX, the Pirate Black YEEZY Boost 350 have an average resale price of $946 USD, while Triple Black 750s average $1,484 USD. The highest selling price for the Turtledove 350 has been $7,700 USD, as the $10,099 USD sale of the light brown 750 has outranked them all.
Not only is Kanye ensuring that his YEEZY sneakers fly off the shelves and cause a stir in the resale market, but he has also “made adidas more relevant in the secondary market than it used to be,” says Luber.
Still, however, adidas is only responsible for 15 percent of the resale market’s dollars. Jordan Brand and Nike make up 80 percent, with the remaining five percent being spread across other brands.
- Source: Footwear News