The Science Of ... , Evergreen Content

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

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


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


Recommended

by NEWSROOM AI
Read More
How to get rich by investing in smoking hot US and Canadian dagga shares

How to get rich by investing in smoking hot US and Canadian dagga shares

Returns of 500% are not unheard of. Is this another crypto-like bubble? Not in the least, says Financial Advisor Warren Ingram.

Tax ombud to probe Sars – yet again - after taxpayers complain

Tax ombud to probe Sars – yet again - after taxpayers complain

The Money Show’s Bruce Whitfield interviews Adv. Eric Mkhawane, CEO at the Office of the Tax Ombud.

The businesses that boomed and went bust on Business Unusual

The businesses that boomed and went bust on Business Unusual

Predictions, products and personalities featured in "Business Unusual" in the last three years.

Hits from the bong (it’s legal!)… then off to work I go?

Hits from the bong (it’s legal!)… then off to work I go?

The consequences of consuming dagga at home and showing up at the office high. Bruce Whitfield interviews a labour lawyer.

The ANC cannot claim innocence - Mahlatsi Mahlase (Sanef)

The ANC cannot claim innocence - Mahlatsi Mahlase (Sanef)

The Money Show’s Bruce Whitfield interviews Mahlatsi Mahlase of the South African National Editors Forum (Sanef).

Solutionist Thinking: In Conversation with FirstRand's founders

Solutionist Thinking: In Conversation with FirstRand's founders

In the bonus episode of Solutionist Thinking with RMB, Bruce Whitfield speaks the founders of FirstRand, GT Ferreira, Laurie Dippenaar and Paul Harris.

Popular articles
Ramaphosa announces details on SA's economic stimulus package

Ramaphosa announces details on SA's economic stimulus package

The President made the announcement at a briefing in Pretoria on Friday.

'My hubby is 75 and we still do it' - stories about sex on the other side of 50

'My hubby is 75 and we still do it' - stories about sex on the other side of 50

Is biology putting the brakes on your sexuality? Callers share their experiences of sex and growing older.

'Some weed plants with high levels of chemicals have been linked to psychosis'

'Some weed plants with high levels of chemicals have been linked to psychosis'

Naked Scientist, Chris Smith shares his insights on some of the risks associated with smoking marijuana.

[Watch] Dad breaks down when reunited with car sold to pay wife’s bills

[Watch] Dad breaks down when reunited with car sold to pay wife’s bills

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

Charity loses R39k event deposit after previous Ritz Hotel management goes awol

Charity loses R39k event deposit after previous Ritz Hotel management goes awol

The Ritz Hotel is under new management and the money paid to previous management has still not been refunded.

DStv Premium on a downward spiral, warns tech guru

DStv Premium on a downward spiral, warns tech guru

DStv has lost about 140 000 Premium subscribers to Netflix over the past two years, tech expert Arthur Goldstuck.

Dr Eve busts myths about the female orgasm that could change your sex life

Dr Eve busts myths about the female orgasm that could change your sex life

As many as 1 in 3 women have trouble reaching orgasm when having sexual play, clinical sexologist Dr Eve explains.