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Sneakerking of Memphis Drops a Great Question-Part 3: Why Has the Hype Died on the Foamposite?

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M.Morgan aka Sneakerking of Memphis (photo by J Boyd)

One of the guys I most admire in kicks lives in Memphis. When some people talk about collectors today it’s about guys who have a collection that reflects recent hype. Sneakerking of Memphis though… M. Morgan is hands down one of the dopest collectors in the country. He’s not hyped on websites or on YouTube with a channel, but I’ve bought parts of his collection that he considered not very good, that I went on to make a few thousand dollars flipping. The picture up there is of one of his tables at a Sneaker Expo here in Memphis back in 2011.

What was his question?

“Why is it that the hype has died with the AF1s, Foams, and SBs but not so much with Retro Jordans which have been way more saturated?”

In this segment I will discuss the Foamposite, but the discussion will be a bit different. It will come directly from experience. I know exactly when the Foamposite died

Has the Hype Died On The Foamposite? I would have to say Yes, but it’s not a solid Yes. I’m biased and there have been some very good drops in the last six years. The upcoming OG Royal release won’t have a lot of hype, but the Foam still does well in certain colors on the resale market. The problem once again here is the basketball market overall. The market is down and although Foams are retro, they are still basketball kicks and the market just hasn’t been kind to hooping shoes lately. This one is complex.

Disclosure: The reason why I say the Foamposite isn’t dead is because behind the scenes the shoe is still selling very well. I think perception isn’t reality. Hype is a funny word.

B01N59J1RJ Air Foamposite Pro (Dr. Doom) Black/Black/White 359 0.14% 451 0.13% 23% 3 0.84% $929.97 3
B01MFCU1PB Nike Little Posite Pro (GS) (NIGHT MAROON | BLACK | GUM | LIGHT BROWN) 779 0.16% 944 0.14% 38% 6 0.77% $1,259.94 6
B01M2894B0 Air Foamposite One (Maroon) Night Maroon/Maroon-Black-Gum 235 0.05% 292 0.04% 0% 4 1.70% $1,239.96 4

Above are my sales charts for the Foamposite sales I’ve had in the last month. I haven’t bought very many because I wasn’t that high on the Foam. I will explain why I’m biased, but I have to give you the history for me first.

In the chart above you see the Dr. Doom first. I had the BuyBox 23% of the time. Which is not very good. I sold 3 pair at 929.97, or an average price of 309.99 per pair plus 15 dollars shipping: 325.00. Not bad at all since the shoe retails at 230.00 plus tax. I sold the Maroon Little Posite well and I had the Buy Box 38% of the time. The shoe retails for 180.00 plus tax and I sold 6 pair for a total of 1259.94 per pair or 209.99 plus 15 shipping, or 225.00/pair. The Maroon Foam in Mens I never had the Buy Box. I simply had better ratings and feedback. My store is rated really high and people bought it from me because there were fakes listed and incorrect descriptions. I sold 4 pair for a total of 1239.96 or 309.99 plus shipping: 325.00.

The Foam isn’t dead. The reason websites aren’t hyping these releases is because they are pushing the shoes from every release and the releases are so fast now that you can’t cover them all. Since the perception is Adidas is king and runners are the shit, dudes are only talking about Jordans and Runners on every site on the web. As a matter of fact take a look at every sneaker site and you are going to see the same shoes on every site. It isn’t that shoes aren’t hyped, the problem is websites are damn near identical.

My History and Why I Say the Foam Died

In 2011 I had almost every colorway of the Foamposite One and Pro. I took a gang of them to a sneaker expo here in Memphis. The same show that Sneakerking is pictured in up at the top. I had enough pairs that I sold most of them after that event anyway, but I was not really a fan of the shoe. It was always too bulky for my liking. When it dropped in the 90s I preferred the Superstar Torsion Adidas to hoop in. However, I always knew there was a kind of subculture of heads that had major respect for Foams. In Memphis people didn’t care for them. I don’t even think most people realized they were Penny Hardaway shoes. When the Cough Drop Foam released, the shoe was on sale in Memphis for 99.99!

The DMV was where most of my Foams sold. Because the market wasn’t very big and Nike didn’t make a lot of the shoes from the 90s to the late 2000’s, the shoe had a solid resale value. It didn’t sell out however. I actually brokered a deal in 2010 with a really big chain of stores. I sat with the DM and we orchestrated the shipment of over 400 pair of Foams that were consolidated into one location. I then bought every pair. The majority of the sizes were 14, 15 and 16, but that was okay because Foams run small. We went through the shoes so fast, it was crazy.

There were some good Foams dropped over the last 5 years and the hyped reach a fever pitch with the Galaxy NRG Foam. After that Nike did some really stupid designs and colorways and they killed the Foam. That was in 2013 with the Thermal Map and Weatherman Foam. Most people will say that was when the Foam died. For me it happened with two Foams in particular. In 2014 everything changed. I wasn’t using my Should You Buy To Flip formula on every shoe. I simply looked for opportunities and when I got a nice deal, I took it.

I linked up with a store that had 7 locations. The owner had bought 160 Foams each of two colorways: the Silver Camo and the “Spiderman” Foam. He knew they wouldn’t sell in his area. He had to buy them in a Futures order. His market would never buy the shoes and he had to do payroll and pay taxes on his buildings. He offered me the shoes early. I paid the guy cash on 300 pair total. 160.00 each. 48,000 dollars was gone and I thought I would be able to blow them out quickly. It was February of 2014 and I tied up my cash on a shoe that wouldn’t sell out completely until the next year. The Spiderman and Silver Camo ended up in the Nike Clearance Store. I paid 160 for the shoes and ended up selling them at 150. I lost 15% on almost every transaction and free shipping. In other words I lost about 35 dollars a pair. 10,500 dollars. was gone and I never really recovered from that purchase. It sent my business into a spiral that lasted until this year. If you ever want to know that story just ask, I don’t mind telling you.

If you look at the chart up there the Foam isn’t dead. It isn’t hyped anymore, but it isn’t dead. If any shoe did kill it you can look at one moment from 2013 to 2014 and four Foams: The Thermal Map, Weatherman, Silver Camo and Spiderman.

Since then Nike chilled on the graphics and the Foam is regaining its ground. The next discussion and the final part of this series,

Why Hasn’t The Jordan Hype Died? Can actually be covered by the Should You Buy To Flip Series. As a matter of fact I think this wraps up my opinion. Big shout out to Sneakerking for posing the question.

Hit me with other questions and I will always answer them as honest as possible with real data on the subject. Not just a bunch of talk. Stay Motivated Fam.

Part 1Click to read Part 1 on the Air Force 1

Part 2: Has the Hype Died on the Dunk?

Part 3: Has the Hype Died on the Foamposite?