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I could be wrong.
But the way that it's always been explained to me when discussing why American products cost more in foreign countries(& Vice Versa) is that it is based more on the cost the companies have to pay when receiving imported goods. The business pays that cost at the time of import but it's passed on to the customers and built into the price. The company exporting the goods also may be expected to pay extra shipping cost, which they take care of at the time of shipping, but that cost is also passed along to the customer and contributes toward what they see on the price tag.
Also some countries build their sales tax into the initial price tag unlike ours which is separate. That can add up to 20% more to the price the customers see before they checkout.
On top of all that, some countries are in better financial shape than ours, which obviously cause them to make more and pay more for everything. I don't know how to factor that in but add all that up and you somehow get $500 for the Lebron Elite ID
It has nothing to do with what Nike might charge us one day. Apples and Oranges
im sure all that takes into account for the price but no way it ends up THAT MUCH for a shoe that total cost is way less than retail.
like others said the cost of living is different but people arnt that well off in Europe to be earning enough to pay 500+ for a basetkball shoe