This week let’s look at a pair of Air Jordan sneakers that has been extremely popular for over 10 years, Air Jordan 11 Concord.
The debut of Air Jordan 11 Concord was on May 7th, 1995, when Michael Jordan stunned the world by wearing this pair of never-before-seen sneakers in Game 1 of the Eastern Conference Finals. The shoes were then banned by NBA because it did not match the dress code. Air Jordan 11 Concord was officially released in November, 1995. It redefined the sneaker market with its typical black and white colorway and a smooth leather design. It was sold out immediately in the United States. Historically, with the “magic” of this pair of sneakers, Michael Jordan led the Bulls to a 72-10 record and claimed the throne of NBA.
Air Jordan 11 Retro Concord hit sales racks again only after 5 years. It was an instant hit again in 2000. Even though in 2006, Air Jordan 11 DMP resembles the look of the “Concords,” it still took 11 years for the sneakerheads to get another taste of this exact pair of classic sneakers in 2011. As a result, it was sold out online instantly on December 23rd, 2011. According to professional sneaker website Nick Kicks, Michael Jordan once again dominated the fourth quarter as the “Concords” complete their three-peat. Last year Air Jordan released Air Jordan 11 Retro Concord Low, in which the high-top shoe design was transformed into a low-top model with the same black and white colorway. However, it never achieved what the original high-top pair has accomplished.
Now, just like what we did last week, let’s take a look at the price market of Air Jordan 11 Concord Retro 2011 on Shoefax.
From the graph above, we can easily recognize how important this pair of sneakers is for us sneakerheads, as the lowest price is almost above $300 and the highest price has reached around $475. It seems like the price fell a little bit during the past summer, possibly due to the global economic crisis that has influenced almost everyone in the world. However, we can see that as the economy starts to recover this month, the price of Air Jordan 11 Retro Concord rises up again. According to ShoeFax, the average price of this pair of sneakers is around $420. Now let’s explore another set of data from Campless.
From the top to the bottom, the three graphs show the price trends for Air Jordan 11 Concord OG (1995), Air Jordan 11 Concord Retro 2000 and Air Jordan 11 Concord Retro 2011. We can see that the DS price for the latest retro is the lowest, but $370 is still twice the retail price, which was $150 back in 2011. The average price for DS Air Jordan 11 Concord OG has reached $700, and it is completely explainable because it is simply hard to keep a DS pair of sneakers from 1995, which s also why there are only 6 pairs sold in the last 12 months. According to Campless, Air Jordan 11 Retro Concord 2011 has generated $934,432 for the sneaker industry. It is very impressive that a single pair of sneakers has generated almost $1 million for the prosperous market.
So back to the basic question of our analysis – how are we going to make profits out of such a classic pair of sneakers? Personally I have never dealt with this pair before, but for our resale business, my colleague Max Han used to have a pair of them. Last year he got a DS pair at $300, and it took him almost a year to make the decision to sell them because he loves this pair so much. This year it was still sold for $390. It was not very easy to predict the value of this pair right now, as the economic crisis has just passed, and the price seems to rise up again. However, since the number of DS keeps decreasing as time passes by, sneakerheads can still take a shot when they find a pair under $350. Even though currently the space for profits may be a little limited, the future of this pair of sneakers should still be bright because it has been such a classic. If you find a DS 1995 pair under $600, you should absolutely cop it, not only because there is plenty of space for profits, but also because of what I mentioned above, it has been extremely hard to find a brand new pair of sneakers from 1995. I am also looking forward to investing in my first pair of Air Jordan 11 Concord, so if you have any information about a pair at a fair price, please don’t hesitate to contact me.
Next week I will talk to some of my peers and see which pair of sneakers they want me to analyze, and this weekend I will still update my blog on Innovation and Entrepreneurship. Stay tuned!