You see sneakers, these guys see hundreds of millions in resale profit

[LiberalElite]

http://fivethirtyeight.com/features/you-see-sneakers-these-guys-see-hundreds-of-millions-in-resale-profit/

-snip-
Shirod Ince sat at the front of a line of more than 100 people, mostly guys in their early 20s, on a Friday evening last month. For two days, he and his friends had been taking turns waiting outside a Foot Locker in Harlem to buy the new LeBron sneaker. Through the long, restless hours, they had sustained themselves on Popeye’s, McDonald’s and a belief that it would all pay off in the end.

Ince had no plans to wear the new Nikes. No, for the past two years, the 22-year-old basketball coach has been reselling the sneakers he waits for. And he thought he could double, triple, possibly even quadruple his money for this particular pair, getting anywhere between $500 and $900 for a sneaker that was selling for $250 retail.

“I’ve been here since Wednesday. I have to get it,” he said. “It’s going to be crazy in the morning.”
-snip-

[shenmue]

1. Oh Lord

I love, love, love new sneakers, but I've always been the girl who gets a tummy-ache spending more than the low two digits.

[BellamyMillBernays]

2. Like charging 200 a gallon for water during a hurricaine.

Obviously we know these are going to end up in the hands of people who don't have access to the newest products( ex. poor people and those rising up in the third world.)

[dixiegrrrrl]

3. Good for him,. I say.

The guy(s) are clever enough to find a niche market, which seems to be made up of "a fool and his money" buyers.

The re-sellers are gonna make a few hundred on the transaction, looks like.
If he is smart, he will branch out and have minions in other lines to shoe stores.

Look at these prices!

The markup can be astonishing. The average eBay price of the LeBron 10 What the MVP sneaker? $2,086. The Nike Air MAG Back to the Future? $5,718. How about the Air Yeezy 2 Red October, designed by Kanye West and released by Nike this year for $250 retail? It sold on eBay for an average price of $2,958, with almost two dozen people paying at least $8,000, Luber said.

[fasttense]

4. I see poorly paid Chinese making sneakers for

less than $4 a day.

And they have the nerve to call themselves a communist country.