Off-White x Air Jordan Thread - Rest In Peace Virgil Abloh

[jordman23]

Adding a few more pictures. But to join the discussion, I also would rather have the Black Cement 4s Off -White next month than these.

The Sails are nice, but honestly for wearing purposes I’d rather have any of the OG 4 Colorways.

I’m holding on to these for trading purposes. If you didn’t get, not worth paying resell IMO.

 

[ady2glude707]

They are automatically reported once they either have 200 transactions or 20k in sales. In this reseller market that is easy to hit. They are now a business. Once you considered a business they have to report capital assets. All these pictures of cats sitting on hundreds of pair of shoes would be different if they had to report it as an asset. you have to let them know I bought this shoe in 2020 for 200 and now have to remember any years from now I have to report this sale down the line.

Example I am reseller I have 10 pair of ow4 and sit on them for 2 years. Hypothetically resale is going for 1500. So now I have a total of 15k of assets. I still have current stock so I need to move them under the radar in 2022. I would try do straight cash sales. Now here comes the problem for those try to do under the radar. I had to document I had those shoes in 2020 now I could lie and still report as having them or not report them. If you dont report them that sends red flags. Now someone could say according to our records you are sitting several hundreds of shoes in a cramped apartment we need proof of your inventory. The reseller can be legal but I rather it be highly inconvenient so I can get what I want for retail.

I believe its 200 transactions AND 20k in sales

 

[iwilwin]

sz 11 just locked down, i hope the homie can pull another sz 11 off

 

[air thumper]

Has anyone seen pictures of these with the alternate laces in? I've seen one or two with the light green in, but I haven't seen anyone try the black laces out.

 

[childsplay]

Has anyone seen pictures of these with the alternate laces in? I've seen one or two with the light green in, but I haven't seen anyone try the black laces out.

black laces don’t go with these imo

 

[air thumper]

black laces don’t go with these imo

Thanks! Yep, I'm not into the black, but the guy in the video says it's #2 for him.

 

[queese23]

sz 11 just locked down, i hope the homie can pull another sz 11 off

How??!! And how much ?

 

[blackboislim]

Anyone got their pair shipped out yet?

 

[toneloc2002]

Anyone got their pair shipped out yet?

Nope.....

 

[blackboislim]

Nope.....

Im watching my gmail like a hawk. I need to just chill and be patient

 

[toneloc2002]

Im watching my gmail like a hawk. I need to just chill and be patient

You and me both lol

 

[a100o]

They have estimated arrival dates if you check order on nike.com

 

[derry1]

Patiently waiting for the undercutting fest to begin

 

[illhistorical]

I believe its 200 transactions AND 20k in sales

Source? Don't doubt you, just would like to read for myself.

 

[illhistorical]

They are automatically reported once they either have 200 transactions or 20k in sales. In this reseller market that is easy to hit. They are now a business. Once you considered a business they have to report capital assets. All these pictures of cats sitting on hundreds of pair of shoes would be different if they had to report it as an asset. you have to let them know I bought this shoe in 2020 for 200 and now have to remember any years from now I have to report this sale down the line.

Example I am reseller I have 10 pair of ow4 and sit on them for 2 years. Hypothetically resale is going for 1500. So now I have a total of 15k of assets. I still have current stock so I need to move them under the radar in 2022. I would try do straight cash sales. Now here comes the problem for those try to do under the radar. I had to document I had those shoes in 2020 now I could lie and still report as having them or not report them. If you dont report them that sends red flags. Now someone could say according to our records you are sitting several hundreds of shoes in a cramped apartment we need proof of your inventory. The reseller can be legal but I rather it be highly inconvenient so I can get what I want for retail.

I work in tax. You're not wrong, but the thought of treating a sneaker as a capital asset is funny to me. Never thought of it that way. I need to research but I'm not 100% convinced that's correct. Might just be Ordinary Income.

The thought of using StockX to substantiate FMV of your asset is also something I never imagined.

 

[engineer]

I work in tax. You're not wrong, but the thought of treating a sneaker as a capital asset is funny to me. Never thought of it that way. I need to research but I'm not 100% convinced that's correct. Might just be Ordinary Income.

The thought of using StockX to substantiate FMV of your asset is also something I never imagined.

Should be just like stock. You’d report the cost basis as $200 or whatever you paid and then just pay tax on the profit.

 

[illhistorical]

Should be just like stock. You’d report the cost basis as $200 or whatever you paid and then just pay tax on the profit.

More like inventory than stock. Your profit is just the markup.

 

[aquatic barefoot]

Patiently waiting for the undercutting fest to begin

Don’t know what your target price range is, but the undercutting ain’t gonna be that much bruv...

 

[Lucky13s]

I understand why a lot of people are saying these aren't deconstructed enough, or are boring because they're all one color, or whatever. But in hand you can see several different shades/colors and materials that make this sneaker interesting and very attractive. They exceeded my already high expectations.

 

[Lucky13s]

By the way, WHY DIDN'T ANYONE TELL ME THIS THREAD EXISTED??? I'm active in the Nike x Off-White thread, but I had no idea this one existed. Feeling a lot of FOMO right now. Haha.

 

[raposo927]

Undefeated shipped my pair

 

[derry1]

Don’t know what your target price range is, but the undercutting ain’t gonna be that much bruv...

If it’s anything like most previous drops, these will see a decline. Once pairs hit these anxious resellers hands they’re gonna burn their pairs for low numbers, then cause the rest of the reseller to frantically come up off their pairs. It’s economics meng

 

[ModernMade]

These will drop just like everything. I remember dude's was mad I said the 5s would drop to 600s lol sure enough they did. Scooped the double up too. Lol I'll grab these once hype die down.

 

[ady2glude707]

They arent gonna decrease in price that much IMO, especially if you wear a bigger size. IVs are more sought after than Vs too.

 

[Iconic Point]

More like inventory than stock. Your profit is just the markup.

both of you guys are right. It all depends on how you define the shoe.

For the regular user (if we were to be ethical) it would be considered a capital asset/ collectible for tax purposes. We all agree what makes something a collectible is that it carries additional value based on its rarity and its market demand. Essentially, the opinion of other collectors and experts, based on what they are willing to pay for your, determines its value. As of right now our go to tools are stockx, ebay, goat and other sites. I have a pair off whites sell them for going value I should ethically report that as capital gains on my taxes.


Now resellers on the other hand should be treated as a business. They are definetly not selling shoes as a hobby. They are selling shoes for profit. They should treat their shoes as inventory. They should treat their inventory as a depreciating asset. Selling property for more than its depreciated value is technically a capital gain. They should be reporting their capital gains.

This was convoluted keeping this straight. this is the same frustration I want resellers to feel when they brag about having locked 50 pairs of shoes. This will make cats think twice about backdooring shoes. You sold 10 shoes 50 dollars over retail but only reported the retail sale you should be in trouble.