Man Thrifts Pair of Nike Sneakers—Then Learns How Much They're Really Worth
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content.
A bargain hunter in California has told Newsweek of his surprise at finding a pair of pristine Nike sneakers in his size at a local thrift store and discovering how much they could be worth.
Thrifting is proving to be a popular pastime for bargain-hunting shoppers today. Between 16 and 18 percent of U.S. adults now shop at thrift stores each year, according to an analysis by Capital One Shopping.
It is understandable when you consider some of the bargains that have been uncovered by eagle-eyed customers in the past.
Many of these finds are not only purchased for a bargain price but also worth significantly more at resale. There was the $5.99 thrift-store lamp that one man later discovered was worth $350.
A $5,000 Louis Vuitton dress was also found in one store for just a fraction of that price. Then there was the $3 statue that was discovered to have been made from marble dating back to the 19th century.
The sneakers discovery made by William Ponseti, based in California, can now be added to that growing list.
When he first set eyes on the pair of Nike Dunk High Varsity Maize sneakers for just $38 in his local thrift store, it felt like they were destined to be together.
As Ponseti is an avid sneakers fan, the fact the shoes came in his size made purchasing a no-brainer. "I found them at a local thrift store," he told Newsweek. "I thought they were cool, and I tried them on."
Having established the shoes were a good fit, Ponseti decided to do a quick search online "out of curiosity" to see what he could find out about them and find out how much they would usually sell for second hand. "I looked them up to see what they were called," he said. "I was really surprised. I was already planning to get them, but that kind of sealed the deal."
What Ponseti discovered when he looked the sneakers up was that they had a resale value of anywhere between $500 and $1,000. "It just shocked me that they would resell for so much," he said.
Eager to bask in the glow of his thrift-store find, Ponseti took to Reddit, posting under the handle u/Weekly-Knowledge9208 to show off the sneakers and their potential resale value.
Some commenting on the post were skeptical over his figures. "No one is paying close to $500 for those," one user said. Another disagreed, writing: "I actually found the same pair for about $20, sold them during covid (2020 I think) for $600 and did a Nike by you custom dunk high in the same colorway."
Ponseti is waiting to see if he will be as lucky. "I have them listed online right now, but if they don't sell, I'll probably just wear them," he said.
In the meantime, Ponseti is continuing to search through thrift stores in the hopes of finding a few more bargains. "I'm still thrifting casually," said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
10 hours ago
- Miami Herald
Satellite Images Show Giant Port Emerge at World's Biggest Construction Site
Satellite imagery showed advances in construction of Oxagon, a floating industrial complex that is a key component of Saudi Arabia's Neom, currently the world's largest construction site. Newsweek has contacted Neom for comment. The new port city has a strategic location in one of the world's busiest maritime trade routes connecting Asia, Africa, and Europe. Neom is the flagship element of Saudi Arabia's Vision 2030 aimed at diversifying its economy away from oil dependence. Oxagon, The Line and the Trojena Ski resort are among its most ambitious pieces. Neom has recently announced several progress reports, with a new CEO now in charge of resolving the project's budget overruns and delays amid multiple simultaneous, ambitious, and costly projects. Images captured by the Copernicus Sentinel-2 satellites showed rapid progress made on Oxagon city and port, set to become one of the world's most advanced port terminals, the facility lies on the Red Sea in northwestern Saudi Arabia. The Port of NEOM has received Saudi Arabia's first fully automated, remote-controlled cranes, marking a key step in boosting Red Sea trade, automation, and tech-driven job creation, the company announced this week on LinkedIn. The Red Sea corridor is a major shipping route linking Asia via the Indian Ocean, to Europe and Africa via the Suez Canal. Oxagon's proximity to the canal, which facilitates almost 12% of global trade, provides it with a strategic edge, according to Blackridge Research & Consulting, an Indian-based specialized market research firm. The port is part of an envisioned cutting-edge industrial city which will fully rely on renewable energy and aims to host some 90,000 inhabitants by 2030, according to the government's vision. Saudi Arabia's Crown Prince Mohammed bin Salman had announced the establishment of Oxagon in 2021. "It will contribute to Saudi Arabia's regional trade and commerce, and support creating a new focal point for global trade flows," Al-Arabiya's English website quoted him as saying. Neom's Green Hydrogen Company (NGHC) is developing the world's largest green hydrogen facility-a $8.4 billion project- at Oxagon. Melissa Blake, Port Director at Neom wrote on Linkedin: "Port of Neom is excited to receive the first batch of cranes and other cargo handling equipment as we come another step closer to delivering our vision." Saudi Arabia's Government Vision 2030's website: "Sitting at the crossroads of 3 continents, Oxagon is a place where people, nature and technology come together in harmony." Vishal Wanchoo, CEO of Oxagon said in May: "Industrial development cannot continue at the expense of people or the environment. We're offering a compact, mixed-use city where industry, nature, and community coexist." The port is planned to act as the main trade gateway to northwestern Saudi Arabia, with a smart logistics hub, connects Asia, Europe, and Africa. Related Articles Images Show Power Plant Nears Completion at World's Biggest Construction SiteNew Progress Report From World's Biggest Construction ProjectWill Saudi Arabia's Alcohol Ban be Lifted? Reports Prompt Flare-UpNew Boss Named for World's Biggest Construction Project 2025 NEWSWEEK DIGITAL LLC.
Newsweek
11 hours ago
- Newsweek
Putin Warned of Dual Threat to Russian Economy: 'Countdown to a Crisis'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Moscow's economy is sliding toward the brink of "stagflation," according to a new report published by a Russian economics research organization close to the country's government. The report's author, Dmitry Belousov, head of analysis and forecasting of macroeconomic processes at the Center for Macroeconomic Analysis and Short-Term Forecasting (CAMAC), said that the "economic dynamics" in Russia are "rapidly declining, with a risk of a technical recession in the second and third quarters" of 2025. Why It Matters After the invasion of Ukraine, Russia's economy has been seriously affected by sanctions imposed by Western countries trying to cripple its ability to finance the war, but it crucially avoided entering a recession. Now, however, the economy is facing a risky combination of factors—including rising prices, slowing growth and an acute labor shortage—that is threatening its stability and outlook. In a sign that the Kremlin is aware of how fragile the country's economic position currently is, Russia's central bank cut its key interest rate to 20 percent on Friday, down from a two-decade high of 21 percent. What To Know According to the report released earlier this week and authored by Belousov, GDP growth in Russia slowed down to 1.4 percent in Q1 2025 compared to a year earlier. While inflation is slowing down, it remains very high, at 9.8 percent. While slowing investments in machinery and equipment has played into this slowdown, Belousov said that it has been accelerated by "growing problems in construction," with the number of new projects now declining, and falling consumer demand, especially when it comes to non-food products. According to the report, consumer spending has been stagnating since mid-2024. Russia's President Vladimir Putin at the Novo-Ogaryovo state residence, outside Moscow, on June 4, 2025. Russia's President Vladimir Putin at the Novo-Ogaryovo state residence, outside Moscow, on June 4, 2025. GAVRIIL GRIGOROV/POOL/AFP via Getty Images The combination of rising inflation and stagnant economic growth could bring the Russian economy into a state of "stagflation," which is usually also characterized by high unemployment. In Russia, according to official data, unemployment is currently low at 2.4 percent. What Happens Next Belousov presented a "countdown" to a potential crisis in Russia. The report said that a potential downturn of the Russian economy could unfold between Q2 and Q3 2025 as a slowdown in economic growth and falling consumer demand and as a weakening of the ruble between Q3 and Q4 2025. This loss in value for the Russian currency would be caused by a dip in trade in the first half of the year and a growth in imports, Belousov said, taking into consideration the impact of President Donald Trump's tariffs. "It is easy to see that the 'trigger' of a new intensification of the crisis could be another step in tightening the interest rate policy of the Bank of Russia, provoked by the (almost inevitable) weakening of the ruble, an increase in administratively regulated tariffs and a corresponding jump in inflation," Belousov wrote. The analyst recommends that the country focuses on reducing inflation to avoid the worst possible scenario for the Russian economy, as well as on supporting "the entry of Russian products into all available external markets" and stimulating investments in fixed capital. What People Are Saying The Central Bank of the Russian Federation said in a statement explaining its decision on Friday: "Domestic demand continues to outstrip the economy's capacity to expand the supply of goods and services, but Russia is gradually returning to a more balanced growth path." Russia's central bank's Governor Elvira Nabiullina said in a press conference on Friday: "We are close to a scenario of balanced economic growth." According to Nabiullina, "monetary policy will remain tight for a long period." She added: "Inflation ultimately eats away at the economy's potential, so our goal is to curb inflation and allow the real sector of the economy to develop."
Forbes
11 hours ago
- Forbes
Is Lululemon's Recent Pullback Your Perfect Entry Point?
CHINA - 2025/04/17: A shopper walks past the Canadian sportswear clothing band Lululemon store. ... More (Photo by Sebastian Ng/SOPA Images/LightRocket via Getty Images) Lululemon stock (NASDAQ:LULU) is currently trading at approximately $331 and seems undervalued based on its strong fundamentals, even though the stock often experiences volatility during turbulent market conditions. The company provided impressive Q1 2025 results, with revenue increasing by 7% to $2.37 billion and EPS rising to $2.60, just surpassing expectations. However, the market concentrated on a weaker-than-anticipated 1% increase in same-store sales and a revised full-year outlook, influenced in part by tariff-related pressures. The consequence? A swift 22% decline in after-hours trading that reflects more about short-term market sentiment than long-term intrinsic value. In spite of its high-performance profile, LULU behaves like a value stock. Lululemon trades at about 18x its trailing earnings (slightly lower than the historical average) and 19x price-to-free cash flow – both figures are beneath the S&P 500's averages—yet it is a company that consistently excels in revenue, margins, and return on capital. In comparison with its main competitor Nike, Lululemon is more affordable across significant profit metrics, with a reduced P/E and a more appealing P/FCF ratio. Investors are essentially acquiring Ferrari performance at Lexus pricing. Moreover, with a $32 billion market cap generating $1.6 billion in trailing free cash flow—a 5% cash flow yield, LULU appears to be more of a long-term wealth builder than a fluctuating apparel brand. For those looking for lower volatility compared to individual stocks, the Trefis High Quality portfolio offers an alternative – having outperformed the S&P 500 and yielding returns exceeding 91% since inception. Lululemon continues to showcase its growth capabilities. The company reports an impressive three-year revenue CAGR of 19%, which is more than three times the S&P 500's 5.5%. Over just the past year, it demonstrated 10% revenue growth, increasing annual sales to about $11 billion. Despite encountering macroeconomic challenges, the brand persists as a global growth powerhouse with an expanding international presence and remarkable efficiency. Its operating margin over the last four quarters of 23.7% nearly doubles the S&P 500's 13.2%, while its operating cash flow and net income margins (21.5% and 17.1%, respectively) significantly outperform broader market averages. These figures are not merely good—they're elite. Lululemon's balance sheet resembles a fortress. With a debt-to-equity ratio of just 4.9%, it is significantly below the S&P 500 average of 19.9%. Additionally, its cash-to-assets ratio of 26.1% far exceeds the market's 13.8%. This immaculate financial status provides Lululemon with both strength during downturns and the ability to invest in further growth. There's no way to sugarcoat it: Lululemon has experienced dramatic declines during market corrections. It dropped 46% during the downturn of 2022 (compared to the S&P's 25%), fell 47% in the early 2020 COVID-19 shock (versus 34%), and was extremely affected during the 2008 crash, plummeting 92% (compared to 57%). Investors must recognize that with LULU, strong fundamentals don't necessarily provide protection against sharp changes in sentiment. Our dashboard How Low Can Stocks Go During A Market Crash illustrates how major stocks performed during and after the last six market crashes. Lululemon checks nearly every box: strong growth, solid profitability, and a fortified balance sheet, with the only drawback being its susceptibility during market downturns. Trading at a slight discount relative to its strong performance profile, the recent Q1 results, which included mixed outcomes and cautious guidance, underscore immediate challenges while preserving the integrity of long-term fundamentals. Nonetheless, you could also consider the Trefis Reinforced Value (RV) Portfolio, which has surpassed its all-cap stocks benchmark (a combination of the S&P 500, S&P mid-cap, and Russell 2000 benchmark indices) to yield strong returns for investors. Why is that? The quarterly rebalanced mix of large-, mid- and small-cap RV Portfolio stocks offered a responsive strategy to capitalize on positive market conditions while limiting losses during downturns, as detailed in RV Portfolio performance metrics.
