Sneakers are a $55 billion global industry. According to sneakerhead data website StockX, the secondary market for rare and limited-release sneakers is estimated to be worth over $1 billion. This is fueled by Nike and its long standing Jordan brand. People wait in lines for hours and spend tens of thousands of dollars just to get their hands on the latest pair of sneakers.

To understand the world of sneaker collectors — better known as "sneakerheads" — we spoke with those who know it best, including collector Lex Sadler and dealer Jae Tips, top New York City resellers Flight Club and Stadium Goods, as well as SOLEcial Studies teacher Fresco Wilson.

Produced by Josh Wolff and Sam Rega. Hosted and edited by Josh Wolff.

Executive produced by Diane Galligan.

Follow BI Video: On Twitter