More than desire: When resale sneakers become objects of speculation

Image: Unsplash

Sneaker resale platforms like Poizon and Nice feel the heat as China regulators panned such trading for getting out of control

Sneakers, specifically limited-edition ones, have become the latest object of speculation in China – so much so that even the country’s central bank has issued a warning about the financial risks and an impending bubble in the sneaker resale market. The strong words by the Shanghai Head Office of the People’s Bank of China on October 16 came as the price of a pair of size 42 limited-edition SoleFly x Air Jordan 1 soared to RMB 75,999, about US$10,730 then, on China-based sneaker resale platform Nice in September. The model, of which Nike made just 223 pairs, retailed at US$16...
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Edited by Bernice Tang

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