Former President and 2024 Republican contender Donald Trump is likely in the hole for $355 million after losing his latest court case. But his newly announced line of Trump-branded sneakers has proven to be a financial success, at least in the short term.
The question now remains whether the shoe will be a long-term success in the collectibles market.
The $399 “Never Give Up” shoes, which were offered in a limited edition of 1,000 pieces, have already sold out, according to GetTrumpSneakers.com, a retail site that says it is not affiliated with any political campaign. Trump unveiled the expensive shoes, made in gold with what is described as a “T” badge and an American flag collar, at Sneaker Con on Saturday in Philadelphia.
“This is something I've been talking about for 12 years, 13 years. I think it's going to be a huge success,” Trump said at the meeting.
EBAY DISTRIBUTORS,
They are already selling the currency pair at a price ranging from $1,500 to $45,000. However, sneaker and political memorabilia experts remain divided on whether the shoe can hold its value.
Sneaker collectors, also known as sneaker enthusiasts, are known to pay large amounts of money for sought-after shoes. Pairs with an initial retail price of $100-$300 can skyrocket instantly on the resale market — and some can continue to rise for years.
Trump's $399 “Never Give Up” collection has already sold out.
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For example, the famous auction house Sotheby's cites a number of Nike NKE shoes,
Air Jordan sneakers retail for $15,000 to $32,000. The Michael Jordan-branded line was launched in the mid-1980s.
Experts say Trump's shoe will benefit from two main factors. The first is the brand name of Trump and his loyal supporters.
“His fan base is massive. No matter what he drops, it's going to sell,” said Justin Roper, a sneaker enthusiast who hosts his own conventions across the country, including upcoming ones in Cleveland, Wilmington, Delaware, and Atlantic City, New Jersey.
The second factor is the limited range of 1000 pairs. Put the two together and you have a lot of collectible potential.
Not to mention the absolute uniqueness of this item. “He's the first president to release a shoe,” said Kenny Berbick, a sneaker enthusiast and co-owner of EBKICKS, which makes a shoe-cleaning solution.
At the same time, what is once popular in any collectible market can quickly lose its luster. Trump remains a controversial and highly divisive figure. It may seem like everyone loves Michael Jordan, but Trump clearly has more than his share of haters.
Frank Luntz, a veteran political pollster and communications consultant who has a collection of more than 250 sneakers, wondered whether Trump would end up mass-producing the shoe to the point where it was worthless or worthless.
“It will sell for less than $100 a year from now,” he told MarketWatch via email.
In fact, Trump is already offering two other Trump-branded sneakers — one in white and one in red — for $199 each. Both are available for pre-order on GetTrumpSneakers.
Tom Billing, a longtime collector of political memorabilia, said it could take time, perhaps decades, to know the value of Trump's sneakers. Only a few presidents — Abraham Lincoln, Theodore Roosevelt, Franklin Delano Roosevelt and John F. Kennedy — saw sustained value in their collectibles, said Billing, who edits the American Political Collectors Association magazine.
Given that reality, Billing added that if he had to choose between a $400 sneaker or a $500 Lincoln campaign badge, he would choose the Honest Abe collectible.
“I'm not sure [the Trump shoe] “It will hold up over time,” he said.
Officials with Trump's 2024 campaign did not immediately respond to MarketWatch's request for comment.
