This is an amazing story about today’s culture.

There’s a limited edition of a sneaker designed by Kanye West (remember our President called him a “jackass” a couple of years ago), the Nike Air Yeezy 2, which went on sale yesterday for $245.  Only 5,000 pairs will be sold so sneaker collectors are apparently going crazy.

But not as crazy as the guy who pre-ordered a pair in a bidding war on eBay which ended on June 6th.

According to what I read, “he (or she) originally posted the shoe with a starting price of $0.99 on May 30. By the next day, bidding had topped $3,500. By June 5, it had hit five figures, and then things really started to heat up. One user offered $10,200, then came back 20 minutes later and offered $20,000. The same user eventually tapped out later that day after offering $49,999. The next bid for the shoes was $70,000 and price the kept escalating until a user identified only as a***1 swooped in at the last minute on June 6 with the winning bid of $90,300.”

I have no idea if the seller got his money.  I’ve bought and sold lots of stuff of eBay and I’ve seen bidders close out a sale with a huge bid and then flake out afterwards.  I have no idea if that happened.  I’m guessing it did.

But what I don’t get is the culture in which we live where someone would pay this much for a pair of sneakers?

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