Re-sale sneaker business is booming, a form of art

CHICAGO - The re-sale sneaker business is booming, expected to reach $30 billion by 2030.

And don't think for a minute people are actually wearing these kicks that can cost tens of thousands of dollars.

In Chicago, we know how sneakers can represent a legacy. Air Jordans is one of the hottest high-end brands.

Gen X'ers are really running away with the idea of footwear as art. Fox Business caught up with the owner of sneaker resale franchise Impossible Kicks, which is expected to rake in $50 million in its first year.

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"This is the Jordan Dior 1. This is between $9-to-$12-thousand dollars, depending on the size. And this is kind of the cap of, you know, the price point of what people wear on their feet on a daily basis. And then something like this, 'What The Dunk' or this Freddy Krueger dunk, which are, you know, can range from the $20-to-$50-thousand dollars range, is more of an asset class. So I would say, you know, more of, you know, the Generation X is really going and taking it and putting it as artwork in their house as opposed to buying a Picasso or a Monet," said John Mocadlo, CEO and co-founder of Impossible Kicks.

The most expensive sneakers ever sold was a prototype Nike and Yeezy collab that Kanye West wore to the 2008 Grammys. It sold at a private auction for $1.8 million.