If you follow the stock market, you know that stock prices are very easily influenced. On May 1, 2020 Elon Musk tweeted, “Tesla stock price is too high imo” and Tesla’s stock proceeded to fall by 12%… In the sneaker market, we are also well aware of this concept. In 2015, Kanye West began wearing all white Adidas Ultra Boost 1.0 runners on stage. Because of this, Ultra Boost sales skyrocketed, and the resale price of limited-run pairs shot through the roof for the following few years.
Recently, America has gone through a spike in Jordan Fever due to ESPN’s critically acclaimed docuseries The Last Dance, which through telling the story of the 1997-1998 Chicago Bulls season delves heavily into the life of Michael Jordan. As I am sure we all could have predicted, the airing of this series has resulted in a boom in Jordan Brand sneaker sales. On StockX, before the airing of The Last Dance, the resale price of the Jordan 1 Retro Chicago, which released in 2015, hovered around the $950 mark. Since the airing of the docuseries, pairs have sold on StockX for as high as $1700. Not bad at all considering the shoe’s retail price was $160… The aftermarket value of this shoe is testament to the legacy of Michael Jordan and his impact on the world of sports and in sneaker culture.
Recently, while unboxing customer shipments, we were blown away to find a pair of Air Jordan 1 OG sneakers from 1985 sent to us by a customer hoping to have them restored. If you thought that the market for the Jordan 1 Retro from 2015 was ridiculous, just imagine what the market looks like for an original pair from 1985… People who are fortunate enough to own a pair rarely separate with them. Of course, The Last Dance re-opened the market for these as well. On May 5th, 2020, a pair of Jordan 1 OG Chicago shoes sold for $8,138 on StockX. To us, however, these shoes are priceless.
We are incredibly honored to be entrusted with restoring a pair of shoes that realistically belongs in a museum. The Jordan 1 redefined basketball shoes and paved the way for players at all levels to better express themselves on the court. The Jordan 1 was a rule breaker… literally. The NBA demanded that players “must wear shoes that not only matched their uniforms, but matched the shoes worn by their teammates”. So much for individuality… Nike footed the bill on all fines Jordan accrued wearing the shoes – and thank goodness they did. If it wasn’t for this move, we wouldn’t see Kyrie crossing up defenders in Spongebob-inspired kicks, we wouldn’t see Nick Young lacing up Yeezy 750s (or any other shoe he wears, really), and we sure wouldn’t see all of the amazing customs players lace up to express themselves. So next time you see someone wearing an insane pair of Proof Culture custom kicks on court, don’t thank us, thank Michael.
So, have you experienced a spike in your Jordan Fever since the airing of The Last Dance? Would you shell out $8,000 for a pair of Air Jordan 1 OGs? Would you even consider shelling out $1,500 for retros? If you had your Air Jordan 1 OGs perfectly restored by us, would you rock them, even just for one quick try-on? Or would you find a nice glass case to display them in? If you’re looking through your collection and realize that some of your older Jordans might need some TLC, remember, we’re here to help.
As always, we here at Proof Culture hope that you are staying safe and healthy during these hard times.