Campless.com, a website that tracks the resale value of sneakers, has received a "significant" investment from Cleveland Cavaliers owner Dan Gilbert's venture capital firm, Detroit Venture Partners.
Financial details of the investment were not disclosed.
The website, established in 2012, takes public data from what Campless estimates to be a $6 billion sneaker resale market from sales on sites like eBay and crunches the numbers to establish the true value of the most popular athletic shoes. So far the site has analyzed more than 21 million auctions and tracked more than 1,750 of the most coveted sneakers.
The most expensive shoe at retail, according to Campless is the Air Jordan 4 retro UNDFTD, which is worth more than $20,000. The LeBron 4 "Fruity Pebbles" and the Nike Air Mag "Back To The Future" are the only other shoes worth more than $6,000 apiece. But those three were limited-edition shoes that never were available to the public. The highest-valued shoe that at one point was available to the public, according to Campless, is the Nike SB Low Staple "NYC Pigeon," which was released in 2005 for $200 and today sells for an average of $5,244.
Campless data is used by sneakerheads, who are interested in either knowing what the latest sneaker they couldn't get at retail would cost them, or, if they did get it, how much they could expect to sell it for. The site announced on Thursday that it was adding a feature that would allow sneakerheads to track the value of their shoes over time.
As part of the investment, Campless founder Josh Luber will move the business from Philadelphia to Detroit, where Gilbert has purchased nearly 80 buildings and has single-handedly sought to revitalize the city.
"With Campless, Josh has created a unique methodology and vision for using data to create products, communities and businesses," Gilbert said in a statement. "This presents unlimited opportunities, not only in the sneaker industry, but any business aware of the powerful role data plays in their industry."