"A pair of Nike Air Yeezy 1 sneakers by Kanye West sold for $1.8 million, a new record [...] A global fever has gripped the sneaker world." - France Info (04/27/21)
There is no longer any doubt about the vitality of the sneaker market, but once again its craze is proven by this special sale. It all starts here with a prototype that the famous American rapper wore at the 2008 Grammy Awards. A prototype is a unique and rare product. This rarity refers to a mechanism as old as the world, supply and demand, of which the sneaker market is an actor and supporter.
Added to this is the desire provoked in the customer by the release of the latest limited pairs, pushing him to consume. In turn, this enthusiasm creates new desire and a perpetual mechanism takes place.
This also means that we are witnessing a real transition from a utilitarian object to a collector's item. The emergence of a real parallel economy of reselling around the sneaker is launched, leaving the opportunity for many reselling platforms to be born.
Finally, it is important to underline the importance of collaborations and sources of influence in this field, like Kanye West here, legitimizing even more the notoriety of the sneaker. As this auction demonstrates, the world of basketball is now as much about the general public as it is about collectors, allowing the sneaker to become an art object.