Teen Opens Worlds First Sneaker Pawn Shop Teen Opens Worlds First Sneaker Pawn Shop

Teen Opens Worlds First Sneaker Pawn Shop

$15,000 for a pair of sneakers? What? The price tag may sound absolutely insane to most, but depending on the kick, a true sneaker head might consider it a steal. To 16-year-old Chase Reed, it sounds like money in the bank.

Chase, a 10th-grade Harlem’s Frederick Douglass Academy student, had done what no one else has ever done—create the first-ever sneaker pawnshop. He opened Sneaker Pawn, on Lenox Avenue and West 120th Street, with the profits from selling off his own collection, about 200 pairs of basketball sneakers. While in school, Chase leave operations in the hands of his father, Troy Reed, and sneaker guru, Rahsaan “Uncle Bless” Capers. Sneaker Pawn specializes in high-end kicks and those no longer manufactured. Troy Reed explains customer sneaker desire by stating, “Young kids don’t have jewelry. They don’t have cars, but what they do have is thousands of dollars worth of sneakers in their house.”

Sneaker Pawn's priciest pawn so far has been a pair of LeBron Crown Jewels sold at $1,490, which was more than five times its retail price. Chase is not only the go to sneaker-pawning entrepreneur. He still does homework and custom-paints sneakers earning himself between $159 to $266 for each custom job.

For more info check out the original article at the New York Post

Photo Credit: New York Post

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Watch SZA accept the Rule Breaker award above.

READ MORE: Anderson .Paak, Tierra Whack And More Praise Female Artists At 2018 Billboard Women In Music

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Beyoncé, Rihanna, And J. Lo Make Forbes’ Highest-Paid Women In Music List

As November comes to a close, many publications will be crafting their year-end lists for all things pop culture. Forbes released a ranking of the world's highest-paid women in music on Monday (Nov. 19), with Beyoncé, Jennifer Lopez, and Rihanna holding it down for women of color.

Beyoncé comes in at No. 3 on the list with an earning of $60 million as she made most of her money through her historical Coachella performance, the joint album with husband JAY-Z, Everything is Love, and the Carters' On The Run II Tour in support of its release.

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Scroll down to see Forbes' full list below.

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