Resell prices of luxury goods plunge on weak consumer confidence

Nike Dunk Low Panda sneakers [Source : StockX]

The resell market is also hit hard by the economic slowdown, with the prices of rare sneakers and luxury items plunging. According to global resale platform StockX on Thursday, top-rated Nike Dunk Low Panda sneakers currently have a resale price of about 186,000 won ($148), a 53 percent drop from a peak of 395,000 won in December last year. The MoonSwatch collection from Omega and Swatch, which enjoyed sensational popularity upon its release in March, also saw its resale price drop by 70 percent to the 300,000 won range from its peak.