By inti pacheko by photo for the wall street journal
Air Jordans, Nike Dunks and Air Force 1s soared in value last year as investors snatched up basketball-inspired sneakers, hoping to flip them for a profit. The hang time is over for this market.
Some of these limited-edition shoes are now reselling for 30% less than they were just a few months ago as owners take off high-end shoes at lower prices. A pair of Air Jordans that once disappeared within minutes, released on July 13, would take days to sell out nike Inc.’s Virtual Shelves. Average transactions at online sneaker resale marketplace StockX dropped 20% in June.