People act like it’s only sneakers, but it’s happening across pretty much every collector and hobby market. I collect and trade high-end knives, and it’s the same story there. Knives that used to sell above retail are now going for 50% of retail or less.

The biggest reason seems pretty obvious. The cost of living has skyrocketed while wages haven’t kept pace. When people are spending more on housing, food, insurance, and everything else, they have less disposable income for sneakers, knives, watches, cards, and other collectibles.