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Why Are These Ugly Sneakers Going For $70,000 On eBay?

What you see above is the design for Nike’s new Foamposite Galaxy sneakers. You can see why they’re called “Galaxy” – the design intends to evoke deep space, apparently. Why this was an idea for a sneaker, we’re not sure. Despite the look leaving something to be desired, though, it’s still a new sneaker with the Nike name attached, so demand is high. How high? Well, if you’d like to pick up a pair of these suckers on eBay, prepare to be greeted by an imposing dollar figure like this:

People always want new Nike shoes, but it takes a little more than that to explain 70 grand. The reason for this level of sneaker insanity traces back to a few days ago, when Nike announced it wouldn’t sell the Galaxy through its online store “due to extremely limited quantities.” Well, there’s the first big step: people pay more for stuff when there’s less of it. (Economics degree at work right there.)

Then, on top of that, demand was so great at some of the physical stores that actually were selling the shoes (priced at $220, so they were already outrageously expensive to begin with), police were dispatched and ordered the sale of the shoes to be stopped, in order to prevent violence (remember the Air Jordan XI Concord mayhem from December?). Of course, we’re not sure a crowd frantically trying to buy shoes is less dangerous than a crowd furious that they can’t, but either way, this meant one less option for some desperate shoppers.

Add it all up, and you’ve got that striking eBay auction – over what are, again, ugly sneakers – you see above. Is it crazy people care this much? Sure, but we see a similar scene every time a hotly anticipated new item comes out. Nike’s released plenty of such hotly anticipated items, and knows how to milk the furor for all it’s worth. And so do those lucky profit-seekers who actually get their hands on the shoes and know if they make them available, someone will give them $70,000. Bet Phil Knight looks at that figure and gets jealous.

[Darren Rovell]

  • Darrel Anderson

    Ummm – people don’t necessarily pay more for stuff when there is less of it. The price is created as a function of demand and availability. Econ 202 at work.

  • Anonymous

    I think we’re saying essentially the same thing.

  • Jjohnson

    I quit reading Darrel’s post when he started it with ‘Ummm’

  • Dezley


  • Leighajenkins

    SMH must be crazy  This world is crazy and I bet half of the people care about appearance than they do themselves sh-t is sad. point blank!

  • Anonymous

    I brought four pairs, and sold two for 1500 a piece freaking suckers

  • http://www.facebook.com/anton.x.bell Anton Xavier Bell

    Idiot. These and the Crimsons are the best Foamposites ever, and two of the best shoes ever made. I wouldn’t expect you to know, considering the fact you’re obviously not a sneakerhead

  • ThaKing23

    Darrel anderson u are a dam.n moron galaxies and royal blues are killer i couldnt get these but id buy em at like 300 max

  • truthhurtssometimes

    nikes are just shoes for niggers

  • rodrigoquiroz .

    As a superior being, whould you care to explain we mere mortals in words we understand why on earth are this crappy looking sneakears so expensive?

  • l.o.

    look these sneaker nike air foampostie one are a amazing designed shoe these are some one dream they will never go for that much the most they go for is 1000 sure the price is insane but how come so much other thing cost alot these shoes are for sneaker head not we see how shoes are some body dream how they have a crazy ass graphic like if u dont like the shoes keep it to your self there thousand of other people in this world that waste there money on stupid shit

  • Sneaks

    They are not ugly at ALL but damn 7 grand that’s ridiculous but just cuz they cost that much does not mean they are ugly though

  • tanginamo

    who ever wrote this article is ugly

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