Sneaker industry bursting at the seams

Sneaker industry bursting at the seams

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NEW YORK (MYFOXNY) - Basketball and hip-hop go hand-in-hand in  New York City and from their beginnings came a fascination with sneakers that went on to become a global movement.

Author Bobbito Garcia explains the outlook on sneakers in his book, 'Where'd You Get Those?'

He says Americans spend $20-$25B yearly on sneakers.

“The brands feed the desire for that demand. New York is where that mentality came about. We all want to be unique. We ride the train, we want to stand out," said Garcia. 

In 2014, some oldies are still goodies and there are sneakers selling for as much as $750.

Sneakers are so popular that owners even trade them at conventions.

A big trade-in show- the 'Sole Exchange'-  is scheduled for Saturday, Mar. 22, 1 p.m.- 6 p.m. at Penn Plaza.

Some of the hottest kicks on the market you can expect to see at a trade-in show:

Lebron James signature sneaker: $200

Kobe Bryant signature sneaker: $225

Nike Free 5.0: $100

Rick Owens for Adidas: $750

Converse Chuck Taylor: $40

"Back in the day we traded Pokey Mon cards and Beeny Babies. Now, kids have $200 sneakers they flip for thousands of dollars," said Eliott Curtis, who taught a course on sneakers at Carnegie Mellon University.

"The Internet plays a big part," said  Garcia.

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