The boom in second-hand pumps

“Sneakerhead culture” has made old trainers newly desirable. Chris Carter reports.

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This old shoe could be yours for $550,000
(Image credit: © Christie's)

Trainers, or “sneakers” as they’re called across the pond, have become prized collectable assets and the market is showing scant signs of slowing down. If anything, it’s booming. Arguably, the most coveted model is the distinctive red and white Nike Air Jordan 1. In May, a pair that had been worn and signed by basketball legend Michael Jordan, while still at the start of his long career, in 1985, set an auction record when they sold for $560,000 at Sotheby’s. The record that it broke had only been set the previous July at the auction house’s debut “Ultimate Sneaker” sale, in partnership with Stadium Goods, a leading online marketplace for collectable streetwear. At that sale, a scruffy pair of 1972 Nike Moon Shoes fetched $437,500, far out-pacing its $160,000 top estimate.

A sale with street cred

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Chris Carter
Wealth Editor, MoneyWeek

Chris Carter spent three glorious years reading English literature on the beautiful Welsh coast at Aberystwyth University. Graduating in 2005, he left for the University of York to specialise in Renaissance literature for his MA, before returning to his native Twickenham, in southwest London. He joined a Richmond-based recruitment company, where he worked with several clients, including the Queen’s bank, Coutts, as well as the super luxury, Dorchester-owned Coworth Park country house hotel, near Ascot in Berkshire.

Then, in 2011, Chris joined MoneyWeek. Initially working as part of the website production team, Chris soon rose to the lofty heights of wealth editor, overseeing MoneyWeek’s Spending It lifestyle section. Chris travels the globe in pursuit of his work, soaking up the local culture and sampling the very finest in cuisine, hotels and resorts for the magazine’s discerning readership. He also enjoys writing his fortnightly page on collectables, delving into the fascinating world of auctions and art, classic cars, coins, watches, wine and whisky investing.

You can follow Chris on Instagram.