Benzinga - by Benzinga Neuro, Benzinga Staff Writer.
Donald Trump’s newly launched Trump-branded sneakers have become a financial success, with the limited edition already sold out. However, experts are divided on whether the shoes will hold their value in the long run.
What Happened: Trump’s “Never Surrender High Tops,” priced at $399 and limited to 1,000 pairs, have already been sold out, MarketWatch reported on Monday. The shoes, unveiled at the Sneaker Con show in Philadelphia, have already hit eBay, with resellers asking for prices ranging from $1,500 to $45,000.
Experts in the sneaker and political memorabilia markets are uncertain about the shoes’ long-term value. While some acknowledge the fact that he is the first president to release a shoe brand, others predict that the sneakers will lose their value over a year.
"His fan base is just massive. No matter what he drops, it's going to sell," said Justin Roper, a sneakerhead.
While the shoes have the advantage of being a limited edition and bearing Trump’s brand name, Trump’s controversial reputation could affect their future value.
"I'm not sure [the Trump shoe] would hold up over time," said Tom Peeling, a longtime political memorabilia collector.
Trump has also announced two other Trump-branded sneakers, one in white and the other in red, for $199 each, available for pre-order on the GetTrumpSneakers site.
Why It Matters: Just a day after being hit with a $355 million fine in a New York fraud case, Trump unveiled the sneakers at Sneaker Con. This move was seen as an attempt to mitigate his financial woes. The sneakers are part of a broader merchandise line that includes “Victory47” cologne and perfume, each selling for $99.
Supporters of Trump have also initiated a GoFundMe campaign to cover his legal costs, aiming to raise the exact amount of the penalty imposed in the civil fraud case. This campaign reflects the strong support Trump still enjoys, which could potentially boost the value of his branded merchandise, including the sneakers, in the long run.
Read Next: Crowdfunding For Donald Trump: Supporters Rally To Pay Trump’s Legal Bills Through GoFundMe Campaign
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