Sneaker reseller goes viral after losing $20k on True Blue Jordan 1s
A shoe reseller went viral after stocking up on plenty of True Blue Jordan 1s sneakers before learning that his investment had lost him around $20,000.
Reselling popular commodities and brand or scarce items for a higher market price is a tactic referred to as “scalping”, and it usually is frowned upon by normal consumers who often have no alternative to paying the exorbitant prices of resellers utilizing the tactic.
Lately, KSI spoke out about people reselling his and Logan Paul’s energy drink, showcasing that not only is the practice difficult to combat, but it can affect any item, even a drink.
But buying something in demand doesn’t automatically mean you can profit off of it on resale since some items lose value immediately after being released to the market. This happened to the unlucky person hoping to resell some True Blue Jordan 1s that he bought at retail.
“I invested in all these Jordan 1s at retail and look how much down they are. They are at like a $160, I’m sick, I just lost like $20,000, I’m so upset,” commented the reseller in question as seen in a video posted by JustFreshKick on Twitter.
Reseller mocked over Jordans investment
The replies to the tweet show just how much this practice of reselling is frowned upon, as very few people replied with any words of encouragement for the reseller.
“Love to see resellers have losses,” “That’s what you get”, and a picture featuring Meek Mill’s lyric “I used to pray for times like this” are just some of the top liked responses to the Tweet mocking the investment.
Some others pointed out that the $20,000 loss is unlikely to be the final tally for this reseller though.
“He didn’t lose $20k, he can just sell for retail and get his money back or sell on apps and lose 10% of his initial capital so around $2k loss,” replies another user before providing screenshots showing that the resale price of True Blue Jordan 1s’ is still very similar to the initial price they were sold at.