Ever find yourself in a bind for cash and all you could do is think you could have skipped on purchasing a couple of pairs of your sneaker collection? If you live in the New York City area you might want to consider visiting Sneaker Pawn.
Located in the historical Harlem community, Sneaker Pawn allows anyone to get quick cash for their kicks. Father and son team Troy and Chase “Sneakers” Reed explained how it all works to the New York Post.
“After we evaluate it, we’ll give the kid, say, $100 for the sneakers. If he wants them back, he’ll pay the $100, plus $20 for storing the sneakers,” Troy said.
If someone is interested in purchasing a pawned pair, the pawner is contacted and given first right of refusal. If the sneakers are sold the original owner receives 80% of the profit.
Besides pawning, the store offers consignment, customization, refurbishing and also buys sneakers outright. “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.”
To date this is the first pawn shop opened to ever deal in footwear (no disrespect to Flight Club, which is a consignment shop and more). When you consider the seemingly endless amount of struggle campouts, Brand Jordan reissues and Lebron limited editions alone; the Reeds might be ont something.
You can view their interview on Bloomberg and a commercial for Sneaker Pawn below and on the following page respectively. Do you think this will start a new trend within the sneaker community? Let us know in the comments section below.
Photo: Bloomberg / Youtube