If you’re a ’90s kid, then you know that Penny Hardaway was one of the coolest dudes on the planet. He had his own signature line with Nike, he was one of the first shoot first point guard and his ability to take over games was second to none. So it’s no surprise that Nike would want to tap into that nostalgia by bringing back OG colorways of some of its most classic basketball silhouettes. This time around, the sneaker world is being treated to the Nike Air Max Penny 1 All-Star.
The shoe was first debuted by Hardaway himself during the 1996 All-Star festivities, and it was last retroed in 2014. It features a Black, White, Game Royal, and Metallic Silver color scheme and features a Black nubuck upper with Game Royal piping and Metallic Silver Swooshes.
What does this release mean for folks that grew up during the golden era of Nike Basketball? It means that we can finally relive our childhoods again. It is a reminder of all the good times we had. We can’t help but to look back at our childhoods with fondness when we see this shoe. It takes us back to a time when life was simpler and we didn’t have a care in the world. So whether you’re a diehard Penny fan or simply a fan of ’90s hoops culture, these shoes are definitely worth adding to your rotation.
Where To Buy The Nike Air Max Penny 1 All-Star
- Release Date: 2022-12-06
- Style Code:DN2487-002
- Color: Black / Metallic Silver / Varsity Royal
You may also purchase it on eBay from our featured sellers, CLICK HERE
From the screenshot above, you can clearly see that the common sizes are relatively high. I’ll provide you with accurate numbers within the next 14 hours, stay tuned. Now let’s see how the shoe is performing on third party marketplaces.
Air Max Penny 1 All Star: Resale Value
The chart gives us a breakdown of the average sale price of the shoe since December 3, 2022. The average resale value was $140 on 12/3/2022, and went down to $126 on 12/5/2022, losing about $7 per day. Notice how each daily average is 18%+ below the actual retail price of the shoe. So if you’re looking to resell the shoe right now, you know that you’ll be incurring some major losses. This is another case of the shoe being made available via Nike Employee Store where it is being sold for 40% to 50% below its MSRP.
For buyers, this is fantastic news, you’ll be able to purchase it below retail. For the short term resellers, this is bad news. But I’m more interested in how prices are going to change overtime. Let’s look at our five number summary
Lowest sale recorded: $98 ( size 8.5)
Quartile Q1: 110
Quartile Q3: 145
Highest sale recorded: $193 (size 13)
The majority of the shoes, that is 50% sold for prices between $110 and $145. The distribution is normal and there was no outlier and the overall average sale price was $128, with a volatility of 19% ( which is above average).
Should You Invest In This Shoe For The Long -Term?
The current sell through rate is about 22% ( which is way below average). You’ll have to hold on to this shoe for quite some time. For most Penny 1’s, don’t expect to see any changes for at least 21 or 22 months ( little less than two years). The shoe will probably reach the $220+ mark and from then on you can expect it to continue to climb or remain constant. Here’s the good news for the long time investor. Current prices are 18% to 40% below the MSRP. This is a golden opportunity. If you invest in it now, you’re looking at a 120% mark up within a two year span ( earnings between $60 and $100 per shoe).
images courtesy of Sneakerbardetroit
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