Everyone knows what a pawn shop is. The concept is pretty common around the world. But, for 16-year-old Chase Reed, he has put his own spin on it and applied the idea to high-end and dead-stock sneakers in the form of his first venture, Sneaker Pawn.
With the help of his father, Troy, the brilliance behind Sneaker Pawn came when Chase asked to borrow another $50 from his father to spend on a new release. His pops would hold onto the new kicks as collateral while his son would pay off the monies owned.
Shortly after the idea hit, Chase began to sell off his entire collection, which rounded out at about 200 pairs of shoes to raise the $30,000 he needed to get Sneaker Pawn off the ground. The shop, which is newly located at 26 West 14th Street between 5th and 6th Ave. New York, NY 10011.