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Sneakers as investment? You bet! Yours may be worth more than you paid for it

Tebogo Mogola of the Sneaker Exchange Expo.

My kids’ university is sorted because of some of the sneakers I have in my collection.

Tebogo Mogola, Sneaker Exchange Expo

The price thing; it’s not even a factor! It’s like you showing people your wine collection; it’s literally at that level…

Tebogo Mogola, Sneaker Exchange Expo

It’s probably a Yeezy [when asked what his most expensive pair is]… They dropped 50 pairs in Cape Town, I had to fly down… I paid R16 500… They’re worth between R30 000 and R35 000 now… if I keep them in mint condition they’ll probably get slightly more than that…

Tebogo Mogola, Sneaker Exchange Expo

Sneaker culture is huge around the world.

Transparency Market Research expects the market for sneakers (or “tekkies” as it’s often called in South Africa) to be worth R2.9 trillion by 2020.

Sneaker culture, once underground, is now utterly mainstream.

The first sneaker – a leather running shoe with spikes - hit the market in the 1860s.

In 1892 the “US Rubber Company” changed the design to include a rubber sole and high top.

They were nicknamed “sneakers” by the advertising agency “NW Ayer & Son”.

The move from the underground into the mainstream gathered pace in the 1970s when punks started sporting Converse and then in the 1980s with hip-hop acts such as RUN-DMC (which had a smash hit entitled “My Adidas” in 1986).

The Money Show’s Bruce Whitfield interviewed Tebogo Mogola (co-founder and Director at Sneaker Exchange Expo) for his weekly “The Science Of” feature.

The Sneaker Exchange Expo is an event where you can barter, buy or sell some of the world’s coolest sneakers.

It’s the largest sneaker trading event in South Africa.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

I don’t like them being called ‘tekkies’!

Tebogo Mogola, Sneaker Exchange Expo

For Kanye and the Yeezy sneakers that are dropping… right now if I put it on your feet…. People will be like ‘Yo, where did you get those?’… The Kanye moment is happening in our time… he’s an icon of our time… to get a piece of what he stands for… We go out there and get that…

Tebogo Mogola, Sneaker Exchange Expo

Worn, second-hand, looked after. They come from a good home!

Tebogo Mogola, Sneaker Exchange Expo

I paid R1500 [for the sneakers he’s wearing, now worth R4000].

Tebogo Mogola, Sneaker Exchange Expo

I’m a creative director for a TV network…

Tebogo Mogola, Sneaker Exchange Expo

I encourage kids to start small and grow into this thing…

Tebogo Mogola, Sneaker Exchange Expo

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This article first appeared on 702 : Sneakers as investment? You bet! Yours may be worth more than you paid for it


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