Sneakers fetch thousands but fraudsters spoil booming industry

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Sneakers have quickly become a lucrative investment option for savvy shoe-lovers, but fake versions of the much-loved footwear are marring the potential gain for collectors. 9News

have quickly become a lucrative investment option for savvy shoe-lovers, but fake versions of the much-loved footwear are marring the potential gain for collectors.

"Sneakers are a very strong investment – that's why everyone is loving it and the market is pumping at the moment," he said.Sneaker collector Steven Wei from Kicks TW says there's never been a better time to buy shoes, with classics fetching thousands.from Footlocker retailed at $260 less than a year ago – now - they're selling for $700."Because of social media which is a very big factor, it makes everyone want a piece of the sneakers," Mr Wei said.

 

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