Why sneakerheads are obsessed with the quest for a rarer pair
At "Sneakerhead" conventions around the country, anyone can buy, sell or trade a pair, and much-hyped limited releases demand premium prices. Economics ...
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JUDY WOODRUFF: Now to a surprising way to make money: the sneaker resale market, where used Nikes and Adidas can sell for hundreds, sometimes thousands of dollars. Our economics correspondent, Paul Solman, has the story. It's part of our series Making Sense, which airs every Thursday. PAUL SOLMAN: In the back of New York's Javits Convention Center, buyers and sellers, teenage boys mostly, haggled in the trading pit. Here's one of the hottest markets in America I knew almost nothing about, sneakers. YU-MING WU, Founder, Sneaker Con: This weekend, we're going to have 20,000 people. PAUL SOLMAN: When Yu-Ming Wu founded Sneaker Con nine years ago, just 800 people showed up. This year, eight conventions of so-called sneakerheads are planned around the country. New York's is the...
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JUDY WOODRUFF: Now to a surprising way to make money: the sneaker resale market, where used Nikes and Adidas can sell for hundreds, sometimes thousands of dollars. Our economics correspondent, Paul Solman, has the story. It's part of our series Making Sense, which airs every Thursday. PAUL SOLMAN: In the back of New York's Javits Convention Center, buyers and sellers, teenage boys mostly, haggled in the trading pit. Here's one of the hottest markets in America I knew almost nothing about, sneakers. YU-MING WU, Founder, Sneaker Con: This weekend, we're going to have 20,000 people. PAUL SOLMAN: When Yu-Ming Wu founded Sneaker Con nine years ago, just 800 people showed up. This year, eight conventions of so-called sneakerheads are planned around the country. New York's is the...
