Teen opens worldâs first pawn shop for $15,000 sneakers

Harlem Teen Opens High-End Sneaker Shop

The New York Post reports on 16-year-old Chase Reed, who started the business with his dad, Troy

by #teamEBONY, June 18, 2014

Teen opens worldâs first pawn shop for $15,000 sneakers

Teen opens world’s first pawn shop for $15,000 sneakers

Harlem teen Chase Reed opens high-end sneaker pawn shop.

Chase, a 10th-grader at Frederick Douglass Academy in Harlem, still marvels over pictures of the freshest sneaker designs online and waits in line for hours to add to his collection. Only now he and his father are also getting them from fellow “investors” who want quick cash.

They have all sorts of reasons for selling short. One pawned fancy footwear to pay for his brother’s funeral. Two teen girls liquidated their sneakers to pay for prom dresses. Another savvy ­investor flipped a pair of LeBron Crown Jewels and two pairs of Jordans and used the thousands in profit to pay for his move to The Bronx from Brooklyn.

The store’s priciest pawned pairs so far — those Crown Jewels — are commanding $1,400, more than five times the $270 sticker price.

Read it at New York Post.



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