I don’t feel an ounce of sympathy for idiots who were spending thousands to hundreds of thousands with this guy. It was very clearly a case of it’s too good to be true.
Yeah thats what i was talking about with the pairs. Some of them had to be the high quality reps. Id watch his IG videos and he’d have thousands of pairs each of 4 or 5 different styles in the warehouse at any one time.
The first year, I agree. But after a year or two, I totally understand someone doing it. Hell I almost did a few times.
I do agree about people spending tens or hundreds of thousands buying bulk pairs from him to try and resell them. Thats a lot different than people just trying to secure personal pairs that they really want.
I feel bad for the people that got burnt on this but I always felt it was too good to be true. The rumors with the crypto and the just general gut feeling I had always made me stay away when people would bring it up. Just rang too close to home with a wire fraud deal my wife got caught up in years ago with her employer at the time. The shit is people rarely know what’s happening behind closed doors.
It's just a long ass con. Feed people enough line to let them hang themselves. Take me for example, I started with 2 pair: UNC 4 and Obsidian 13, got them just fine, ordered a couple more, got them just fine, ok this is legit so now anything that I want that pops up for pre-order I'm ok with waiting as long as I get them eventually, and now I'm bit for $2,400.
And another shoe that goes directly into my closet until it starts cooling down. Wearing highs with shorts just doesn't work for me - I know some people can pull it off.
I assume that's a cook group? If so, you get out of them what you put in. If you're a big tech guy and want to teach yourself how to run bots, then those groups can be useful. Not bc they'll teach you, they won't, but you'll get early links to feed into your bots. But even with bots, it's very competitive. It's not just hit a button and the bot does all the work. You have groups like that with hundreds or thousands I them and everyone is going for the same pairs. There's not enough to go around. The same top tier bot guys eat every release. The lesser guys get nothing. So yea if you're very tech savvy and have a ton of time to devote to it, go for it. If you're trying to do it part time, don't waste your time.
For me the wait was fine. 6-8 weeks after release for a pair at retail or close to it > never getting them because im not paying $400-500 resell after they drop.
It seems very very likely that his wife was the #1 account on stockx with over 100k purchases for $36m.
So he would take orders and if he could not fulfill them he would just have his wife make purchases on stock x?
The more that comes out, it seems like a classic ponzie scheme. Do pre-orders in January for a June release. Collect $500k in January. $600k in February for a July release. $700k in March for an August release. $800k in March for a September release. $900k in April for an October release. $1m in May for November release. Then by June you have $4.5m to pay out the people that bought pairs in January for a June release. Even if those pairs now cost you $600k, you're up. Just a guess, but that seems most likely at this point.
I buy a lot of mine lately for 30-60 above retail from stockx before release. I just like knowing I’m going to get them. Before fees I paid $10 over for the last two am1 that way
They are the most recent pair to release. Can’t remember the name and don’t have stockx on this iPad. Best silhouette in my opinion so you can’t go wrong with any of them
I really don’t want to do this here but I still don’t understand how this is a Ponzi scheme. People believe they’re purchasing shoes right? Just guaranteed at a price?
you take money and orders from group a. Then take money and orders from groups b&c to fulfill a and so in and so on. So d,e,f pays for b&c until you don’t have a group to pay off the last group? Maybe I’m mistaken on what a Ponzi scheme is but essentially you’re take money from one group to pay off (in this case buy shoes) for another group.
He was taking money for pre-orders to fund other business ventures and moving it around and then trying to move the money back later. If he couldn’t get what he promised to begin with he was also just buying it for more money off stock x to coverup what he was doing. He eventually lost all of it in crypto apparently and could not longer buy the sneakers he promised.
Correct. It's a pre-order. You buy today and you get your shoes in 2-12 months. Normally the pre-order price was lower than what the shoe was worth after release. We can use a recent one that now looks like a clear money grab. Chicago Jordan 1s release later this year. He did a pre-order for $224. I guarantee you he got millions of dollars in pre-orders at that price. If the shoe releases in November, people would normally get pairs in January-April. When the shoe releases in November, it'll retail for $200 and it'll resell for $400+. Probably closer to $500. So buying it today for $224 is a great deal, even if you don't get it until 2-6 months after release. That's an extreme example, normally a pre-order would be like $220 on a shoe that was worth $300 at release or something like that. I think the too good to be true price on the Chicago aj1 was him getting as much money as he could before he folded shop.
I went to join the draw for the Unions only to find out my SNKRS/Nike account was apparently hacked. Really weird. All my info was still there the same but my payment stuff was deleted and two different ones were added.
Did the Travis Scott releases on SNKRS get moved again? Don’t see them on there for tomorrow anymore.