Everyone knows a sneaker head. The people who are infatuated with tennis or gym shoes. The people who would pass out if someone stepped on their vintage Carolina blue and white Jordans or their Original Mikes (the first pair of Jordans).

Most people feel sneaker heads are wasting their time and money “investing” in shoes, but maybe this story will change your mind a bit.

It didn’t happen here in the United States, but it might just be a matter of time before it does.

A sneaker head from Beijing, China pawned his Michael Jordan shoe collection of 283 to put a down payment on a new home for his future wife and family. It took him 20 long years to collect all of the Jordans, but it turned out to be great he was standing on shoe assets.

The 30 year old man (name unknown) was soon to be married, living in an apartment and wanted to buy a home for the budding family. With a little hesitation and love for his sneakers, he decided to pawn his shoes in order to get the money.

His entire shoe collection was given a valuation of 1.8 million yuan for the entire collection of 283 shoes.

The 30 year old man (name unknown) was soon to be married, living in an apartment and wanted to buy a home for the budding family. With a little hesitation and love for his sneakers, he decided to pawn his shoes in order to get the money. His entire shoe collection was given a valuation of 1.8 million yuan for the entire collection of 283 shoes.

The pawn shop owner negotiated with the man for 1 million yuan (roughly $160,000) for the entire collection. It was a deal and he was able to put the down payment on his home.

Happy wife, happy life!

This story punctuates what sneaker heads have known all along. There is value in their shoes. With each shoe in the man’s story fetching over $565/ea., it proves with a discerning eye one can turn a profit in this market. Sneaker heads, rejoice.

SOUND OFF: What do you think of the sneaker head who bought a house?

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Will this encourage others to build and sell their collection?

Source: Next Shark