Basketball legend Kobe Bryant died in a helicopter crash on Sunday.
Getty/Lisa Blumenfeld
  • Since Kobe Bryant's sudden death on Sunday, prices for the basketball legend's shoes have skyrocketed on resale marketplaces like StockX.
  • The athlete partnered with Nike and Adidas for various sneaker releases during his lifetime.
  • "As is the case for any live marketplace, real-life events have ramifications on market performance," a StockX representative told Business Insider in a statement. "Following the tragic news of Kobe Bryant's passing, there was a surge in interest in products related to the basketball legend, including some of his most noted sneaker collaborations. The increased interest is a testament to his impact both on and off the court."
  • Jaysse Lopez, the founder of multimillion-dollar consignment and resale company Urban Necessities, told those who consign with him that upping the prices on Bryant-branded items in the wake of the tragedy would not be allowed.
  • "Not how I built my brand or how I need to make a dollar," Lopez wrote in a comment on Instagram regarding his decision.
  • For more stories go to the Business Insider South Africa homepage.

The sudden death of basketball legend Kobe Bryant has spurred a renewed interest in his sneakers.

The former Los Angeles Lakers player who died Sunday in a helicopter crash collaborated with brands like Nike and Adidas to release different signature sneakers throughout his lifetime.

Since the news of his death, pairs of the athlete's shoes have skyrocketed in price on resale marketplaces like StockX, as different resellers try to profit off the news that has shaken the athletic community.

Pairs on StockX, a leading resale marketplace, that had previously gone for less than $200 (R2,900) were being sold for upwards of $1,000 (R14,000) starting on Sunday.

"As is the case for any live marketplace, real-life events have ramifications on market performance," a StockX representative told Business Insider in a statement. "Following the tragic news of Kobe Bryant's passing, there was a surge in interest in products related to the basketball legend, including some of his most noted sneaker collaborations. The increased interest is a testament to his impact both on and off the court."

But some consignors are actively stopping users from profiting from Bryant's tragic death. Jaysse Lopez, the founder of multimillion-dollar consignment and resale company Urban Necessities, told those who consign with him that upping the price on Bryant's items in the wake of the tragedy would not be allowed.

"Not how I built my brand or how I need to make a dollar," Lopez wrote in a comment on Instagram regarding his decision.

Urban Necessities reportedly sent a letter to consignors after people started to try and cash in on the athlete's signature merchandise.

"Due to the recent passing of Kobe Bryant and out of respect for his family and legacy, we will not allow price changes on Kobe items that are consigned," read the letter, Complex first reported. "If you have increased prices on Kobe items, we will be reverting the price back to the original listing price."

Elsewhere, prices on different pairs of Bryant's sneakers essentially exploded overnight. StockX sales data for a pair of Adidas Crazy 97 EQT Kobe Bryant 1997 Slam Dunk Contest sneakers revealed that the pair, which had previously sold for around $200 (R2,900), was selling for over $1,000 (R14,000) following the news of Bryant's death.

StockX sales data

For some pairs on StockX - like the Kobe 4 Protro Undefeated Los Angeles Lakers - the price at resale almost quadrupled overnight.

Sales data for a pair of Kobe 4 Protro Nikes, which shows that the price at resale almost quadrupled overnight.

Bryant retired from the NBA in 2016, but he continued to release sneakers following the end of his basketball career. Nike was a longtime endorser of Bryant and called the player a "beloved member of the Nike family" in a statement.

Read StockX's full statement here:

As is the case for any live marketplace, real-life events have ramifications on market performance. Following the tragic news of Kobe Bryant's passing, there was a surge in interest in products related to the basketball legend, including some of his most noted sneaker collaborations. The increased interest is a testament to his impact both on and off the court. Over the course of the past decade, Bryant released hundreds of colorways in partnership with Nike, many of which were fast fan favorites along with silhouettes that have become the preferred game shoe for players across the league. After Jordan, he was arguably the most influential basketball player in the sneaker world. On the heels of an incredible career, he reinvented himself off the court with an equally impressive turn as an investor, philanthropist, and storyteller. His legacy will continue to live on in his surviving family, the countless players that he inspired, and in the sneaker business where he had such a profound effect.

Receive a daily update on your cellphone with all our latest news: click here.

Also from Business Insider South Africa: