Business-Savvy Teens Tap Dynamic New Collector's Market: Designer Sneakers Much-coveted shoes are being bartered and sold by high schoolers at sneaker conventions across the country at eye-opening prices, The New York Times reports.

By Geoff Weiss

Opinions expressed by Entrepreneur contributors are their own.

Are shoes becoming the new stocks? For a budding community of teenage sneakerheads, the answer is unequivocally, "yes."

Like cards, comics and dolls before them, a trading market of sorts has established itself at sneaker conventions across the country, where designer basketball shoes are being bartered and sold by high schoolers with the gusto of stockbrokers and at eye-opening prices, according to a report by The New York Times.

In mint condition, Nike's Michael Jordan-branded footwear can fetch thousands of dollars -- as can limited edition designs only available in foreign countries. In one instance, reports the Times, a young trader turned down a $98,000 cash offer for a pair of Nike sneakers designed by Kanye West.

"I know I could buy a house with this kind of money," the 18-year-old vendor said. "But I'm a huge Kanye West fan."

Related: These Entrepreneurs Raised Almost $40,000 for Their 'No-Sock' Socks

While the cultural craze itself is a huge draw for many teens, those possessing a sharpened entrepreneurial eye are also aiming to trade up. For instance, the Times profiled a 13-year-old from New Jersey whose collection grew by four pairs and $815 after a flurry of 20 transactions in one day.

In addition to conventions held at hotel ballrooms and high school gyms, this business is booming online, as social media-savvy teens can showcase their wares on Instagram and Facebook.

And when they do in fact choose to wear the shoes instead of merely investing in them, special precautions are taken. While some only sport their shoes in the summertime in order to avoid weather damage, others have perfected the art of walking like a duck in order to avoid creasing, the paper reports.

Related: A 'Smart' Pair of Shoes With a Noble Purpose

Geoff Weiss

Former Staff Writer

Geoff Weiss is a former staff writer at Entrepreneur.com.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

'Nobody Ever Gave Me Anything': More Boomers Say They're Not Transferring Wealth to Family Until They're Dead

A new survey from Charles Schwab found boomers are more hesitant to distribute their wealth than other generations.

Business News

Over 1,300 Google Employees Have Signed a New Petition Asking For Job Security

Google laid off thousands of employees in the past two years, which has left some employees feeling insecure about keeping their jobs.

Leadership

How to Move Fast and Not Break Things — 5 Lessons in Innovation From an Industry With Zero Room for Error

Every company wants to innovate. The trick is to do it in a way that actually helps customers and doesn't put the business at risk

Business News

Fans of Costco's $1.50 Hot Dog Combo Are In for a Big Surprise

Costco CEO Ron Vachris announced a change that's coming soon to the company's food courts.

Growing a Business

Why Empathetic Intelligence Gathering Is the Secret Weapon Every Leader Needs to Master

Strategic leadership hinges on empathetic intelligence gathering, balancing data, ethics and collaboration to drive impactful decisions.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.