Sneaker collector Steven Wei from Kicks TW says there’s never been a better time to buy shoes, with classics fetching thousands.
“Sneakers are a very strong investment – that’s why everyone is loving it and the market is pumping at the moment,” he said.
In 1985 a pair sold for $40, but today the price tag could be up to a whopping $10,000.
“Because of social media which is a very big factor, it makes everyone want a piece of the sneakers,” Mr Wei said.
The sneaker market in Australia is worth $2 billion dollars annually, but fraud in the footwear trade is rife.
The large amount of fake shoes being sold has prompted eBay to launch a sneaker authentication program.
“Everything from stitching to shoelaces … they even sniff the shoe to test for glue to see if its real glue.”
“Some standouts are obviously the box – the font on the box – the overall craftsmanship of the shoe – and there’s a few other tips that we can’t really share,” an Authenticator from StockX said.
Mr Wei has had all his sneakers authenticated.
In one of Mr Wei’s cabinets alone there is more than a quarter of a million dollars worth of shoes.
It is for that reason he doesn’t normally keep them on display – normally, they’re under lock and key in a secret location.
“Now I really rate quality over quantity,” Me Wei said.
“Sneakers are colourful – they’re just beautiful you can put them on the wall – you can put them in your shop and in your office.
“It’s not only good for the value – it’s visual.”