Boutique owner dishes on premium priced shoes

Posted: Updated:
MANHATTAN -

Jay Wong has been in the sneaker game for over 10 years. As the owner of Jwongboutique in Manhattan, he's seen how much people are willing to pay for sneakers. The more limited and exclusive they are, the more people want to get their hands on them.

That means business is booming for sellers like Wong. As long as the sneakers are authentic, he says people are willing to spend just about anything to rock a pair.

MORE:
Boutique owner’s passion caters to serious sneaker fanatics

A fresh pair of sneakers can cost anywhere from $150 to $2,000 or more, and Wong says people are happy to pay thousands of dollars for shoes -- even if they’re used. So what makes someone pay up for that premium pair? Wong says it’s an obsession for some, but it can also be a smart investment. He says a smart investor can flip the sneakers for double the price or more.

Wong says he once had a pair of Gold Yeezys from Kanye West’s collection going for $3,000. He says it’s all about current trends in music and fashion, and having people compete to purchase a limited pair is what makes the prices skyrocket. 

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."