While people are standing in lines and camping out for kicks, 16 year old Chase Reed used his own sneaker collection to open the world’s first sneaker pawn shop. High-end sneakers are equaled to gold right about now and sneaker-heads are making their way to Wall Street with their Jay’s on. With Michael Jordan recently named a Billionaire by Forbes Magazine. Fans of the sneaker brand are capitalizing off the hype and sneaker trend.
Young kids don’t have jewelry. They don’t have cars,” said Troy Reed, dad of young entrepreneur Chase “Sneakers” Reed. “But what they do have is the thousands of dollars’ worth of sneakers in their house.”
While most kids are just thinking of copping the latest and greatest, 16-year old Chase Reed is taking his love of the shoe game and turning it into a business. A sneaker pawn shop is a brilliant and creative idea. With his new Sneaker Pawn shop located Lenox Avenue and West 120th Street. Chase already got a chance to help sneaker-heads cash their kicks in to get things they really needed.
For example, one guy pawned his fancy footwear to pay for his brother’s funeral. Two teen girls honored their sneakers to pay for prom dresses. Another savvy investor flipped a pair of LeBron Crown Jewels and two pairs of Jordan’s and used the thousands in profit to pay for his move to The Bronx from Brooklyn. This sneaker pawn shop looks like is going to take the sneaker business to the next level.
“I don’t look at it like a business. It’s what I do. It’s what I breathe,” said Chase. “It’s an idea that’s right in front of your face. It’s just about bringing the idea to life.”
The process of evaluating and receiving cash on the spot for your kicks is fairly easy. They’re looking for “high-end sneakers or dead-stock sneakers” — pairs that are no longer being manufactured. If a potential pawner’s kicks qualify, they give the shoes a smell, check to see if they are yellowing and examine the soles for excessive wear.
This sneaker pawn shop is brilliant. If you have a pair of kicks that you no longer wear and would like to turn your kicks into cash head on over to Lenox Avenue and West 120th Street. Tell us @Snkrbst your thoughts on the new sneaker pawn shop located in Harlem.