Do you know why they are expensive? Ever heard the word “scarcity?” Ever read about supply and demand?
Don’t you worry! You did something amazing, that is to look for us and read this article.
Today, we are going to help you understand why Yeezy’s are sold at an unimaginable premium price and why people flock to buy them. And how Adidas controls the supply and demand of Yeezy’s, keeping them to sell at a premium price.
Before we do, let me ask you a question to keep this going fun. Do you think the socks shoe deserves to be sold at the price they are sold at?
While you think, I’ll answer your question.
The Price Tag
After the launch of Yeezy, Kanye West has been rapping his accomplishment “Yeezy Yeezy I feel so accomplished.” But why don’t we share the same emotion? Or, while we admire its unique design and its beauty, why do we lose a life when we look at the price tag?
Adidas sells Yeezy’s in limited stock, allowing them to charge a premium, unlike its own shoes that are sold throughout the year.
Many shoe brands follow this model like Supreme, Off white, and more that create hype around their shoe to keep control over the prices.
Are Yeezy’s Really Expensive?
When Kanye West thought of launching his designer shoe line, he didn’t intend to charge a premium. He originally wanted to make high-quality sneakers that everyone could afford. In fact, when compared with other designer shoes such as Balenciaga, LV, Off white, and more, Yeezy’s are affordable.
And the reason Yeezy’s are expensive is because of the second market. When there’s a new launch, they are sold with limited stock and generally retail between $200-600. As for us, we don’t buy them at retail price, and we look at the secondary market to buy.
And as we all know, the prices of high-end sneakers keep fluctuating in the secondary market.
Imagine if Yeezy is going to launch a new collection and they know 15,000 people are going to buy the shoe. If they make 20,000 pairs, the collection will be sold at retail with no issues. Instead, they make around 10,000 shoes. Doing so helps Adidas sell out their inventory completely, saving them space and any loss.
Resale & Hypeculture
Let’s dissect how these two are indirectly correlated.
Celebrity brands such as Nike, Yeezy, and some exceptions such as Off White and Supreme are surrounded by hype culture, they usually sell out within a couple of seconds, both offline and online, once it is put up for sale.
Even if they don’t like the brand, the shoe design, or the celebrity, in this case, Kanye.
But they still wait in line for hours or sometimes days just to grab a pair of shoes to sell them online.
What Are the Most Expensive Yeezy’s
Let’s understand how the secondary market works before we tell you which is the most expensive Yeezy, as there is no simple answer to that question.
The prices are determined by the popularity of the shoe, the size, how old and rare it is, and if it is used or unused.
The size of the shoe? Yes, some sizes are high in demand, and the basic economic rule is, whatever that is in demand, they are generally sold at a high price.
So to answer your question, the price varies and also keeps fluctuating. But the most expensive Yeezy to be ever sold to date is Nike Air Yeezy 1 Prototype that was sold for $1.8 million in an auction, and Air Yeezy 2 SP Red October in collaboration with Nike that was sold for $11,400. Again the price is determined by many factors as mentioned previously.
And the expensive Yeezy that was sold in collaboration with Adidas is Adidas Yeezy Boost for $3500.
Sneaker vs Watches as an Investment
Ahhhh! Interesting! Some entrepreneurs I got here. Well, sneakers are treated as an investment these days, and sneaker enthusiasts and some people, in general, are investing in them only to resell in the future for higher returns.
On the other hand, Watches are also an investment.
But which is better and safe to invest in?
Sneakers don’t cost you thousands of dollars as watches do. The entry price to “invest” in sneakers is very low when compared to luxury watches.
Also, the sneaker market is kind of volatile since they thrive on hype. Sometimes sellers sell sneakers at a loss because the sneaker market is dry or that particular edition is not in demand.
On the other hand, watches have a value attached to them, unlike sneakers.
Watches are made of mechanical pieces, some luxury watches use precious metals and stones in them. Along with that, the heritage, legacy, and age of the brand make a watch to sell at profit always.
That being said, investing in sneakers is not a bad decision and is not all that risky.
What is risky is bad negotiation skills.
Are Yeezy’s a Good Investment?
Apparently yes! These days more than the typical designer shoes, people have been flocking to buy celebrity-designer shoes that are made in collaboration with sportswear brands such as Nike or Adidas.
And due to the daily influence of sports, music, and any form of entertainment in our daily lives. There’s a constant hype surrounding it. No matter even if the shoe looks amazing or dull, they will sell like hotcakes.
And about Yeezy’s? They have surprisingly been keeping up well every season drop, and there doesn’t seem to be a value dip with Yeezy’s in particular, but their value is directly attached with the creator himself — Kanye.
So far, things are pretty smooth with him, and therefore the sales have been doing good. But if he is caught in any controversy or that which upsets a number of people. There will be a backlash against him, and possible Yeezy’s will be boycotted — and this is a con with the celebrity-branded shoes and to you as a reseller.
Conclusion
So are they really expensive? If you ask me, they could be, and they aren’t.
It is just like Rolex. While Rolex is seen as the luxury watch, they are only the entry-level luxury watch.
Yeezy’s are no different than Rolex’s. Other brands charge exorbitant amounts of money for their shoes, while Yeezy’s are just getting you entered into the designer shoe world.
But if you can afford it, just buy them and feel accomplished like Kanye.