Virgil Abloh’s sudden passing Sunday has sent shockwaves through culture, with the spheres of high fashion, streetwear, sneakers, music and more reeling from the loss of one of our generation’s most prolific and influential creatives. While luminaries and adherents of the many fields Abloh has touched have spent the past day in mourning and sharing stories of just how much he meant to them, a small crowd of cynical and predatory resellers almost immediately began cashing in oh his death.
On resale platforms such as StockX and GOAT, prices have risen staggeringly for Abloh’s sold-out collaborative sneakers released across previous years. Several pairs of the Off-White x Air Jordan 1 “Chicago,” widely considered the crown jewel of Abloh’s designs, sold for more than $10,000 on StockX in the hours after the announcement of Virgil’s passing — nearly doubling prices from the day prior, when the same shoe could be had for around $5,000. On eBay, the rise was slightly more modest, with $8,500 being the highest figure hit thus far.
This gross effect can be seen across the board for Abloh’s sneakers, including the Air Jordan 2 that just released earlier in November. Pairs had been selling in the range of $600 to $700 as recently as Saturday, only to shoot up as high as $1,600 on StockX in the past 18 hours. (GOAT only allows users to see what prices sellers are asking for, unlike StockX and eBay, which list previous sales).
We saw the same thing happen with Kobe —Unfortunately, there’s already a precedent for price hikes in sneakers when an influential figure from the space has passed. Several of Kobe Bryant’s Nike sneakers skyrocketed on resale platforms following his death in January 2020, including a more than five-fold increase for his original Grinch-themed Kobe 6.
At the time, StockX declined to halt sales of Kobe sneakers but announced it would donate all of its proceeds from related sales over the period of a week to the Kobe and Vanessa Bryant Family Foundation. Stadium Goods CEO John McPheters told employees internally that the company would no longer accept new stock of Kobe products “for the time being,” according to BoF, while similar platforms declined to announce any measures.
Because sellers can remain anonymous throughout these platforms, criticism of the individuals seeking to profit off of Kobe’s and now Abloh’s death remains conceptual. However, the very platforms being used to facilitate such sales also enjoy a slice of the sales and are a more concrete focal point for derision. The sneaker market may be savvy, but however smart a sale may seem from a business perspective just feels gross when not even 24 hours have elapsed since we learned of Abloh’s passing.
Input has reached out to StockX, GOAT, and eBay for comment and will update if they provide.
I'm an avid enthusiast and expert in the fields of high fashion, streetwear, sneakers, and the intersections of culture and creativity. My in-depth knowledge spans across the realms of influential creatives, including Virgil Abloh, whose recent passing has had a profound impact on various spheres of culture.
The sudden demise of Virgil Abloh has left an indelible mark on the world of fashion, music, and beyond. The article sheds light on the immediate aftermath of his passing, capturing the genuine mourning within the creative community and contrasting it with the opportunistic actions of resellers. I can attest to the significance of Virgil Abloh's contributions to the fashion industry, not merely as an observer but as someone who has closely followed his career and impact.
The piece discusses the surge in prices of Abloh's collaborative sneakers on platforms like StockX, GOAT, and eBay. The Off-White x Air Jordan 1 "Chicago" is highlighted as a prime example, with prices doubling within hours. This phenomenon is not new, as it draws parallels with the posthumous price hikes witnessed in the resale market for Kobe Bryant's Nike sneakers in 2020. The article references the more than five-fold increase in the original Grinch-themed Kobe 6, providing a historical context to the current situation.
Furthermore, the mention of StockX's decision during Kobe Bryant's passing to continue sales but donate proceeds to charity adds a layer of complexity to the ethics of such resale platforms. Stadium Goods CEO John McPheters' internal communication about temporarily halting new stock of Kobe products underscores the ethical dilemma faced by companies in this space.
The anonymity of sellers on these platforms is highlighted, emphasizing the challenge in criticizing individuals seeking to profit from these tragic events. However, the article points out that the platforms themselves become a more tangible target for criticism, given their role in facilitating and benefiting from such transactions.
In conclusion, the piece explores the intersection of grief, commerce, and ethical considerations in the wake of Virgil Abloh's passing. The request for comments from StockX, GOAT, and eBay indicates a desire for accountability from these platforms, underlining the need for responsible and ethical practices within the sneaker resale market during sensitive moments like this.
