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As sneaker resellers take over, small communities fight back
They say capitalism breeds innovation. But in the sneaker world, that innovation has translated into people buying coveted pairs from Nike, Adidas, and other brands, only to sell them at a markup price to reap a reselling is a popular practice across different industries, sneaker flipping has detrimentally affected thousands of consumers. It has changed the space forever — it’s no longer just about who loves shoes, but rather who can actually afford them. Websites like StockX cater specifically to resellers and those looking to buy silhouettes at double or triple their original price, while first-hand sneaker stores still haven’t found efficient ways to sell directly to regular customers. After all, as long as the companies are pulling in profit, they don’t seem to care where that money comes Hebert — son of former vice president and general manager of Nike North America Ann Hebert — posing with hundreds of sneakers to resell. for everyday consumers, resellers have turned the once-enjoyable sneaker chase into a marathon. Going into a sneaker drop knowing that your competitors are only in it for cash — or are actually just bots instead of real shoppers — quickly spoils any hope you had on landing the pair you’re eager to make yours. Seeing resellers then post their massive hauls online only amplifies the rage and the reselling wave grows, small communities have begun to turn these emotions into something more productive (and effective) than an angry Twitter rant. Sneaker startup SoleSavy announced it would expand its membership with a women’s-only sneaker community, while private Instagram pages like @if_i_cant_wear_snkrs provide women with a safe and inclusive space to connect with each other. If big names like Nike and Adidas can’t guarantee a sanctuary for their consumers, trust that someone else will rise to those soulsA sneaker reseller with Nike’s Air Jordan 1 x Trophy Room “Freeze Out, ” which sells on apps like GOAT for $2, 500 and WiredDejan Pralica, CEO and co-founder of SoleSavy, is one of those people. He told Input that sneaker companies “have forgotten there’s a human on the other side of the screen. ” Unlike bots programmed to buy up sneakers, “you can tug at [those people’s] heartstrings; they want to feel like they’re part of something, ” said Pralica. Especially with the pandemic restricting social interactions to social media and other online platforms, there’s a longing for community that hasn’t been “there is no sneaker community without the community of people actually wearing sneakers, ” said Pralica. Similarly, there’s no reselling community without the demand for sneakers, even if they cost thousands more than their original price. To Pralica and many others, sneakers are a passion — which is why he sought to create a space where people wouldn’t be judged for the sneakers they liked, or how much they would be willing to pay for them. In the words of Pralica, “if you want it, you get it. ”If big names like Nike and Adidas can’t guarantee a sanctuary for their consumers, trust that someone else will rise to those leSavy is changing the sneaker game by stepping out of it. Unlike Nike, Adidas, or any other big-name shoe brand, its product isn’t sneakers. Instead, it’s sneakerheads, Pralica said. SoleSavy isn’t looking to sell a sneaker and build its consumer base, but rather cater to its consumers first to build their sneaker collections. “There’s something cold about just hitting a ‘buy’ button, ” Pralica said, referring to the purchasing method available on StockX and other reselling sites. “[Sneaker culture] is a social culture, ” he added — and there’s nothing social about pressing a button to satiate your sneaker apps designed to fill the social aspect of the sneaker world, like Nike’s SNKRS or Adidas’ Confirmed app, haven’t really created a space for sneakerheads. These platforms pump out sneaker-related media to be consumed, but don’t offer room for discussion. “There’s no transparency, ” said Pralica. “People don’t really know what’s going on or what the landscape is. ” So, like any other community, sneakerheads like Pralica have turned to each other for Bediones, SoleSavy’s Women’s Director of Strategy, helped launch the company’s women’s exclusive community. SoleSavyPart of the SoleSavy community is formed through cohorts, Pralica said, which are limited to groups of around 1, 300 people for maximum efficiency. Most users are friendly, but those that are aggressive, hateful, or trying to resell any product are “swiftly removed, ” said Pralica. “That’s not what we want in our community because it’ll just poison it. ”The whole ideology of the SoleSavy community is to be welcoming and open — most who join are sneaker “novices, ” noted Pralica. “Bots aren’t the sole reason [people aren’t scoring sneakers]. It’s an understanding of the dynamics of a release, and educating our customers too. ” No drop purchase is guaranteed, but Pralica promises consumers a good time and success if they put time into their sneaker learning. “Hyped sneakers are designed to break your heart, ” he adds, noting their exclusivity. SoleSavy is designed for people who genuinely love sneakers and the culture that comes with. “[Any reseller] has a driving factor of money, ” said Pralica. “Our driving factor is community. ”SchoolingLearning about bots and reseller tactics is different than actually avoiding them in the first place, though. But in a bid to take power away from resellers, LACED hopes to award everyone the same shot of landing a release for a fair price — perhaps one even below year, a pair of Jordans sold on the platform for the mere price of $1. 24. And to end 2020 on a high note, LACED auctioned off some of the year’s best sneakers, including the Off-White Air Jordan 5 in Black and Sail colorways, the Travis Scott Jordan 6, and the Jordan 4 Unions. All were sold with the intent of giving everyone a shot at winning a desired pair at a fraction of retail price. “Hyped sneakers are designed to break your heart. ”Working through an auction, users of the app can work through auctions to bid on in-demand silhouettes penny by penny. Every time a bid is placed, the timer resets to seven seconds, and you get to see in real-time who is bidding in the auction. If your bid is the last one placed when the timer hits zero, you win — but be wary someone else doesn’t reset the timer with their competing Lozano founded LACED in early 2017 to provide users with the same adrenaline rush that comes with the sneaker “hunt” — but minimizing resellers, he told Input. LACED auctions can reward users with a cheap sneaker in minutes — or hours, depending on demand— and the bidding process cuts out anyone (including bots) looking to flip the silhouette for a quick profit. By implementing the penny auction model, LACED ensures that users are dedicated to winning the shoe, not for its monetary value but their appreciation of the silhouette. “It’s not for everybody, ” Lozano said, mentioning the patience that comes with the bidding process. “But what we’re trying to do is create an experience, and give people an opportunity to get that shoe that’s [worth] $500 or more with a lower budget. ”Changing the GameA LACED auction in real time. LACEDAnd like SoleSavy, LACED makes sure to take care of its community. Whether through offering free bids, promo codes, discounts, giveaways, or other goodies to its users, the app “wants to ensure that everybody, when they participate, walks away with something, ” said Lozano. To deter resellers, LACED also gives users the opportunity to flip sneakers they’ve won within the app. “It’s about giving people control while having control, ” said Lozano. But to further make sure users are enjoying the sneakers, instead of buying to sell, each LACED profile can only buy the size initially entered. “We’re ensuring that users that want to [bid] on each shoe are still paying for that item rather than the idea of flipping it, ” Lozano added. “We’re trying to give everyone better opportunities… and tools rather than everyone being beat. ”According to Lozano, resellers can never be stopped — but that’s not the point of LACED, or any other sneaker platform. “We’re trying to give everyone better opportunities… and tools rather than everyone being beat, ” he said. Even if you don’t walk away with a win on LACED, at least you know the shoe went to another person who actually wanted the silhouette — a person just like you. “We’ve seen these scenarios play out on our Instagram, where one person is able to say they won a sneaker in our auctions, ” said Lozano. “Other people who were bidding on it will comment too, but they say, ‘good win, congrats, ’ and that’s what we want to instill. ”Smaller communities like LACED and SoleSavy are giving people new opportunities in the sneaker world because, in the words of Pralica, there’s no such world without the actual people behind it. While big companies can continue to roll out the hottest designs for profit, smaller cohorts are looking to what consumers actually want — and if you’re lucky, giving it to them too. ExploitationEdward Berthelot/Getty Images Entertainment/Getty ImagesThere’s room for exploitation — like Lozano mentioned, there’s no guaranteed way to limit resellers. And with big sneaker producers still limiting shoes to create hype, plus sites like StockX and GOAT encouraging the reselling market, not everyone can grab a pair. But at the end of the day, no platform, big or small, would see success without its community. Highlighting GOAT’s GREATEST magazine, giveaways, annual events, and designer spotlights, the company’s Chief Brand Officer Sen Sugano told Input: “We wouldn’t be where we are today without our community, which comprises over 30 million members from around the world, all joined together by a mutual passion for sneakers and fashion. ” And in recognition of sneakerheads’ commitment to the industry, Sugano added, “engaging and inspiring our community are core tenets of our brand and we will continue to build deeper connections with our members in the years to come. ”What big names like Nike and Adidas need to recognize is that the future of the sneaker industry isn’t just about giving sneakerheads new opportunities to buy hot silhouettes. As demonstrated by SoleSavy, LACED, and even GOAT, communities are blossoming, giving people a chance to connect with others despite their location or sneaker knowledge. Sneakerheads can’t win all the time, but sometimes, helping another enthusiast out can be comparable to a win itself.
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The History of Sneaker Reselling and the Current State of the Game …
The sneakers that we wear are more than just a utility to protect our feet. They are a work of art, and an expression of who we are as individuals. The culture surrounding sneakers became popular in the mid 1980’s with brands such as Nike, Adidas, and Reebok. Sneakers transformed into a symbol of status and changed the landscape of the industry forever!
In 1984, professional basketball star Michael Jordan secured a contract to collaborate with Nike. This was the birth of Air Jordan; which, is considered by many to be the “grandfather” of sneakers today. Why was this significant? Jordan’s sneakers created hype. Jordan was the best player in the NBA and therefore, consumers wanted to rock what MJ was rocking! They would go to great lengths to secure the next coveted colorway at all costs. The Jordan sneaker brand became so successful, that competitors such as Reebok and Adidas tried to recreate silhouettes that were similar but couldn’t compete with the success of the Jordan brand. They say that imitation is the best form of flattery!
The influence of sneakers was growing into industries nobody had ever imagined. Their impact could be viewed in industries of design, research, politics and manufacturing across the world. This is where the culture of sneakers met big business; A. K. A, the resale culture. Customers began camping outside of stores before the next release, just to ensure they would be able to get their hands on the next pair of deadstock kicks for retail price.
Sneakers are a reflection of who you wanna be, who you believe you are and where you come from.
A sneaker reseller is simply a person who purchases limited edition pairs of deadstock sneakers and sells them for a profit to another consumer. To a sneakerhead there is nothing better than a deadstock pair of limited release sneakers. If kept in the box, their value appreciates. The moment sneakers are worn, their value depreciates significantly. Similar to when you purchase a new car from a dealership and drive it off of the lot. Part of the fun in collecting and reselling sneakers, aside from the monetary profit, was the thrill of going to great lengths to get them! This period in history only made the sneaker community stronger.
In the early 2000’s resellers began to use the internet to their advantage. Forums such as ‘Nike Talk’ as well as many others became a platform for resellers and consumers alike, to buy, sell, trade, and verify authenticity of their products. In the late 2000’s the game was changed in a massive way. Various IRL meetups were organized for sneakerheads to attend and purchase the pair of sneakers that they’ve searched far and wide for but couldn’t get their hands on yet. Most notably, in 2009, Sneaker Con was born. Sneaker Con became the largest sneaker event to date. The event began in NYC and since then has expanded globally. The birth of social media only added to the ease of access for publicizing events such as Sneaker Con. The money in the resale market was booming at this time! Resellers were making insane amounts of profits from what started as a hobby; in some cases, to the point where reselling provided enough to be a full-time job.
Since the Late 90’s and 2000’s much has changed. The sneaker culture is still alive and well; however, the mediums through which buying, and selling is completed is vastly different. The sneaker resale market continues to grow and is currently estimated to be a $2 Billion industry. Future projections estimate the industry to grow ~3x by 2025. Resellers have changed their strategies drastically to align with the present times. Selling a limited-edition pair or part of their personal collections is a thing of the past. StockX, GOAT, Grailed, Stadium Goods, and many others have created platforms for resellers to purchase sneaker releases in high volumes. The sneaker game has certainly evolved over the years, with the new model for buying and selling sneakers being more expensive than ever. As long as consumers continue to be willing to pay a premium, the game will never die.
Tags: Addiction, Adidas, Alcoholism, Fashion, Jordan, Nike, Recovery, Reebok, Release Recovery, Sneakers, Treatment
How to Resell Sneakers: Beginner’s Guide to Flipping Shoes
Learning how to resell sneakers isn’t a new hustle.
This has actually been a successful side gig for decades in many cities and the explosion of the Internet and online commerce has opened up more opportunities than ever for selling and reselling sneakers.
If you grew up when the first Air Jordans came out, this shouldn’t be that much of a surprise.
While sneakers are often seen as a fashion statement, with many people believing the kind of kicks you’re wearing describes the type of person you are, if your first thought when seeing a pile of really nice discounted sneakers or tennis shoes is “profit potential, ” then you’ve come to the right place.
However, you may have heard that there’s more money to make by reselling shoes than by wearing them. Good news: you’re probably an entrepreneur.
In this post, you will learn how to resell sneakers for a profit, including important information like:
What the sneakerhead culture is, how much the market is worth, and how much you can make by taking advantage of it
The most expensive and sought-after shoes and sneakers in the secondary market
How to find the best shoes to buy and where to sell them
The pitfalls of reselling shoes
Additional tips to help you make the most out of reselling shoes
Learn How to Resell Shoes
As a heads up, this post is a great overview of buying and selling shoes for profit. However, if you want to learn from the true expert and get much more depth for how to make this business work for you, I recommend checking out the Six Figure SneakerHead – HypeMaster Playbook Here.
Learn How a SneakerHead Makes Six Figures HereUse code NICHEMONEY to get an extra 10% off.
ContentsHow to Resell: Sneaker Reselling for BeginnersHow Much Can You Make Reselling Shoes? How to Buy & Sell the Most Expensive and Sought-After Shoes and SneakersThe Process of Reselling ShoesHow to Find Shoes to Buy and SellHow to Determine if the Shoes Are FakeShoe Reselling TipsWhere and How to Buy and Sell ShoesThe Cons of Reselling ShoesHow to Avoid Common Sneaker Reselling MistakesAre You Ready for the Rigors of Selling Used Shoes?
How to Resell: Sneaker Reselling for Beginners
The flipping sneaker business in many places has provided an avenue for hustlers to ethically and ingeniously make a quick buck. And what seemed to be footwear that keeps your feet safe and warm serve a different purpose to other people.
Compared to some other ways of making money online, the sneaker resale market is very profitable and valued at around $1 billion. While only 4% of shoes and sneakers are purchased upon release for resale, the market benefits from side hustlers and entrepreneurs who operate in different channels.
The sneaker market as a whole has opened up itself to more people with the help of online channels. However, back in the day when the internet didn’t exist, there was a competition within the different communities and tribes in the market. People scoured through a thrift store and flea markets to get shoes under their market price.
Others would run to their nearest Foot Locker to get the latest pair of shoes. Information was spread through word of mouth and Eastbay mail catalogs. In other words, reselling sneakerheads worked in isolation with their communities.
There was only so much distance and area you could cover in the early sneaker game. That shared common experience within a small group of people made the sneaker market what it is today.
To get your fix on the latest sneaker news, you just need to hop onto Hyperbeast and High Snobiety or other sites that keep track of the sneaker fashion market. Both are fashion sites that extensively cover information and news about the culture for sneakerheads of all levels.
If you want to get connected with fellow sneaker lovers, you need to attend SneakerCon that takes places in the different parts of the world.
How Much Can You Make Reselling Shoes?
The short answer? Millions.
JV is a guy making six figures a year reselling shoes. He got his start flipping sneakers as a side gig while working retail. After 4 months in, he was clearing over $10, 000 per month.
He’ll teach you how to do the same thing he does, clear the big bucks, in his online course. If you add the code NICHEMONEY, you can get an extra 10% off.
Reselling shoes isn’t a rare phenomenon. A quick look at Amazon and eBay will reveal you a secondhand pair of sneakers up for grabs for every brand new pair. The process of shoe selling is all too common that there are people who made reselling shoes a profitable full-time job.
However, there are only a handful of people who have built an empire as shoe resellers. Arguably the most successful sneaker reseller is Benjamin Kapelushnik. Also known as Benjamin Kickz and owner of the sneaker marketplace Sneaker Don, he started in the business at 13 in 2013 and made it big two years after.
He rose to fame as the shoe supplier to DJ Khaled who referred him to his friends in the music and entertainment industry. He made his first million in 2016 and had been reselling rare and expensive shoes and sneakers to high-ticket clients since then.
Sneaker collecting is a thing and for individuals who can get a good deal on rare or hard to find sneakers like a limited release commemorative pair of Nike Air Jordan 2 Just Don, the Nike SB Dunk, or others, it can be ridiculously profitable to be reselling sneakers.
However, if we’re being more realistic, unless you know someone like DJ Khaled, it will likely be impossible for you to make that much money in two years. That doesn’t mean you should stay out of the sneaker resale game, though! If you follow the process of flipping shoes, you can get around $80-100 per pair for starters.
You can work your way to generating higher margins if you get better sneakers to resell, maybe around $500 per pair.
This is not a bad way to make money, and you’ll learn the exact process later on.
If you want to take a look at what some of these shoes are selling for, take a quick peak at eBay. Type in “Limited edition sneakers. ” Some of those options sell for hundreds of dollars!
How to Buy & Sell the Most Expensive and Sought-After Shoes and Sneakers
Ever since the 70s, there are only two brands that mattered to most sneakerheads: Nike and Adidas.
Both brands have produced lines of sneakers and shoes for athletes and artists. Some of those lines have withstood time and exponentially increased their value since their release. Some brands have made waves (Reebok) and are poised to make one (Under Armour, Big Baller Brand). However, if you’re in the sneaker industry, you can’t go wrong with these two brands.
Below are some of the more popular expensive shoes in the market pioneered by the two brands:
Most Popular Expensive Shoes to Resell
Air Jordan 12 ($100, 000+) – Michael Jordan needs no introduction. Aside from his accomplishments as a basketball player, he established the Jordan brand that comprises his line of Nike shoes. In fact, you can quickly make a list of most expensive sneakers based on his shoes alone. The most affordable pair of Jordan shoes could go for $4, 500 (Jordan III OG) on resale. However, the Jordan 12 collection is easily the most expensive pair of shoes in the Jordan line. In particular, the Jordan 12 Flu Game shoes, where he willed his body to score 38 points in a pivotal game 5 of the 1997 NBA Finals, tops the list at a whopping $104, 000.
Nike Air Yeezy 2 “Red October” ($6, 000) – Kanye West is one of the most popular artists to date. His fame prompted Nike to launch their first non-athlete collaboration pair of sneakers. Released in 2009, Red October was initially sold for $250. Since then, the pair is resold between $5, 600 to $6, 400. West collaborated with other footwear such as Louis Vuitton, BAPE, and Adidas. The latter started their partnership with West that ended up being the Adidas Yeezy Boost line. In fact, a pair of Yeezys is some of the most coveted shoes in the market outside of Jordans.
Nike Air Mag Back to the Future ($10, 000+) – Inspired by the sneakers worn by Marty McFly (Michael J. Fox) in Back to the Future 2, there are only 1, 500 pairs manufactured by Nike. However, none of them made over to stores as all pairs were sold through auction. Proceeds went to Fox’s foundation for Parkinson’s disease research. The pair has glowing LED panels and upper contour.
As mentioned, there are other up-and-comer brands with pairs of sneakers worth looking into. Thanks to Stephen Curry, Under Armour’s stock is rising. And while Big Baller Brand built their brand around hype (for the time being until Lonzo Ball achieves greatness), the $500 pair of kicks they’re selling is interesting to say very least.
That being said, when you’re starting out with flipping sneakers and learning about the resale market for popular sneakers, you should stick with the most popular brands.
In the beginning, learning about the sneaker resale market, secondary markets, and spotting fake sneakers will take up plenty of time and energy. You don’t need to be speculating until you get your sneaker game up to snuff!
The Process of Reselling Shoes
While earning over a million dollars for reselling shoes at this stage is still possible, there are lots of obstacles you must overcome to reach that goal. Aside from bagging clients willing to shell out serious dough for sneakers, you need to learn where to find and acquire the most sought-after shoes.
The competition nowadays is fierce as you’ll be lucky to establish a client base as a beginner.
Therefore, you need to immerse yourself in the sneakerhead culture and apply yourself 100% to have a fighting chance. There are more individuals than ever involved in sneaker collecting so the sneaker resale market has room for more entrepreneurs (or sneaker hustlers, whatever term you prefer).
We’ve already discussed the sneaker industry in general above. Now, it’s time to delve into the process of the actual process of reselling shoes and sneakers.
How to Find Shoes to Buy and Sell
Before you can even begin finding shoes to buy and resell, you need to understand the market better.
Reselling shoes are similar to the stock market. There are pairs of shoes that don’t start out too hot but eventually accumulate value later on. Conversely, some sneakers generate lots of attention only to fizzle out as time goes by.
Want even more step by step details on how to find great shoes you can sell for a profit? Check out the Hypemaster Playbook for a great course into the shoe reseller world.
To truly benefit from learning how to resell sneakers, you need to purchase products that are sold on the cheap but have lasting value in the long run. One way of doing so is by buying the sneaker on release day at retail prices, which is where they are at their most affordable.
However, instead of lining up to store for hours to buy them, you can quickly place your orders on Frenzy, a Shopify-owned app.
It will notify you of the release dates of the latest sneakers from the biggest brands. From there, you can place your orders (ideally in bulk) and make a profit by reselling them. The goal of the app is to reduce that friction between retailers and consumers so both can seamlessly make transactions and make money faster.
However, new pairs of shoes come far and few in between. To make money in reselling shoes, you need to find pairs sold under reseller price so you can profit off them. But how can you know how much a pair of shoes cost?
This is where StockX comes in. The site shows how much the shoes and sneaker cost over a 12-month period.
Just like a stock market index graph, you will see the movement of price over time, thus giving you information on which shoes to acquire for reselling. It also serves as a consignment store where people can bid or ask for shoes for resale. If you got a pair of sneakers you want to sale, you could do so through the site.
Once you have the information you need, it’s time to search for those shoes online.
If you want to automate the process of finding the shoes that you want to purchase and flip, then use AIO Bot. Upon buying and installing on your computer, you can choose which shops you want to cop from. Enter the shoe you’re looking for, the size, and color and the bot will take care of searching the sites for you.
This is one of a couple of bots to help you efficiently find shoes for you to increase your chances of finding one without having to look for it personally.
However, before you get help from a bot, you may want to roll up your sleeves to do thing manually. A quick search on eBay for Air Jordan 12 yield these results:
There’s a chance you will see shoes way below market reseller price and sell them more than 10x you bought for them. Between StockX checking the price on StockX and buying/flipping on eBay, you can get started right now.
So your journey as a sneaker reseller begins. But how do you know that those aren’t fake sneakers?
How to Determine if the Shoes Are Fake
The last thing you want to happen is for you to purchase fake shoes mistakenly. This is a problem that pervades in online marketplaces without a middleman like Amazon or eBay. If the price is too good for its good, then maybe it’s a fake. But before making that conclusion, you need to learn how to find out if the sneakers are legit or not.
Below are ways that you can check if a pair of sneakers or shoes you’re trying to buy is genuine or not:
Criteria to Determine if Shoes are Fakes
Ask for tagged photos – The price should normally be enough to persuade you to purchase an item. However, you need to consider other factors that go into the sale of the sneakers. Tagged, hi-res pictures of the item are one way to account if the kicks are legit or not. Ask the seller to take multiple photos of the sneakers with the latest edition of the newspaper to see if it’s for real. You can then cross-reference the pictures with the actual version of the shoes on their official site. Refer to Fake Education on Instagram to find tips and information on how to spot fake ones.
Ask for the receipts – For new purchases, you must request for the receipt of the item to verify the authenticity of the sneakers. It the receipt proves that the shoes were acquired from the official stores, then it’ll be much easier for you to sell the sneakers since you have tangible proof that the shoes are indeed real.
Do your research – For Amazon and eBay sellers you can check their seller rating on their profile. Anything lower than 95% is to be avoided. Also, read the comments and reviews of other buyers. Some may just be complaining about relatively trivial stuff like slow delivery time and those that have nothing to do with the actual shoes. Lastly, check if the reviews were from real buyers and not profiles that were created to help hike up the seller’s rating.
Trust your instinct – If you did your homework and had all the facts that point to the authenticity of the sneakers but you still have doubts about the seller and shoes, then don’t proceed with the transaction. At first, you probably don’t have the intuition yet to determine if there’s something wrong with the shoes or seller. In time and with enough practice of buying and selling, you will be able to discern much easier.
While these tips will help you avoid purchasing bogus shoes, it’s not foolproof that you will entirely avoid such purchases. Just make sure to ma careful and alert enough to keep these provisions in mind when buying.
Shoe Reselling Tips
Below are a few tips for reselling shoes for top dollar. First you need to figure out where to buy the show and then you need to figure out how to actually sell the shoes for a profit.
We will also quickly review some of the dark sides of selling shoes and a few mistakes to avoid when you are getting started.
Where and How to Buy and Sell Shoes
Now that you have the shoes, you must find the best channels where you can sell them to turn in a profit.
You can start by creating an account on a consignment shop like StockX to resell the shoes there. Both sites serve as middlemen between buyer and seller. Therefore, you deal directly with either website to sell your shoes. Send them the sneakers when you’ve chosen the highest bid, and they will take care of the rest.
Sites like StockX are convenient ways to sell your shoes and ensures buyers that they won’t be duped by fake sneakers.
On the flipside, you don’t get the personal touch from consignment stores that go with seller-to-buyer transactions. However, if you’re not much of a salesman or a people person, then this shouldn’t be a problem.
If you want the traditional way of reselling shoes, you can always go the way of Facebook Groups, Craigslist, and eBay. These sites allow you to put your personal touch on your pair’s product page.
As a best practice, you need to be descriptive and detailed as possible about the sneakers. Leave no stone unturned and make sure that you are honest in your description. Assuming that you’re a new seller, it’ll take time before buyers warm up to you. Therefore, you need to keep working on gaining the trust of buyers and continue marching forward.
It may be a good idea to start small when you buy and sell shoes. This keeps your initial investment low, allows you to learn the game, and your buyers are more likely to take a risk when their investment is low too.
For more informal selling like in Facebook Groups and even in Sneaker Con, expect to encounter shady people who might show interest in buying your kicks. As mentioned earlier, you need to discern which among the buyers are trustworthy.
About the price, you need to check StockX to see the range of how much the shoes are sold in the market. You must also check the trend and volatility of the sneakers to come up with a price that will make you and your buyer happy. The market dictates the price, and the only unfair price is the one that no one is buying.
When it comes to your inventory, you may want to reinvest your earnings on another pair or pairs of shoes. Don’t cash out early in the game just yet. Do your research and find available shoes that you can purchase even before you have the money to buy them.
There are also more tools that you should look at including the GOAT app which is an app solely dedicated to buying and selling sneakers and is huge among sneaker resellers. This is another place where authentic sneakers can potentially be bought or sold, making this a great tool to find sneakers you couldn’t find in the secondary market, or to sell those that you did.
What you want is an efficient process where your money comes and goes to another and more expensive pair so you can exponentially increase your income. If done successfully, you can purchase items in bulk and multiply your earnings even more!
The Cons of Reselling Shoes
As a hustler, you need to be aware of the potential problems you will be facing with every venture you undertake. And as profitable as reselling shoes can be, it also has another side of the coin that you need to know before diving deep into the sneaker business.
Below are some of the more pressing issues:
Cons to Consider when Reselling Sneakers
Complicated marketing – Apps like Frenzy solves the problem of lining up for hours waiting for the store to open so you can become one of the first to get a pair. However, it also pushes the limit on how resellers can maximize the opportunity to get their hands on the latest pair of hyped sneakers. Apps that let you reserve shoes and sneakers before their release date and social media contests and raffles are just the tip of the iceberg. Over time, new ways of marketing to resellers will increase and become needlessly more complex, and there’s nothing you can do but keep up with the changes.
Sneaker violence – Resellers indirectly have a part to play in the constant violence that surrounds sneakers, just as much as consumers and retailers are culpable. Due to their high price tag and increasing value of sneakers, no thanks to resellers who exacerbate the issue, some people will go to great lengths and get their pair even if it means breaking the law. However, the sneaker culture is ingrained deep in the society that it will be impossible to remove malice and violence from the equation. It is something that comes with the job and perhaps a burden that every reseller has to bear.
Sneakers as an investment than footwear – Given the nature of reselling shoes, this question comes to mind: who is the market for sneakers? On the one hand, some consumers have a passion for sneakers and use them to promote their fashion sense. On the other, resellers try to get their hands on the most hyped shoes and resell them above their retail price. There’s nothing wrong with reselling as a hustle, but it potentially robs people who are genuinely interested in the kicks and plan on collecting and wearing them. In other words, the sneaker reselling business robs collectors from pursuing their passions righteously. Retailers do more marketing and promotional campaigns geared to resellers.
How to Avoid Common Sneaker Reselling Mistakes
While it’s important to be excited and have the energy to really jump into the sneaker resale game, sometimes you need to slow down. Jump on good deals. But any time you feel that something is off or there’s a red flag – listen to those instincts.
Even the top shoe reselling hustlers have been taken in by fake sneakers before. While in theory PayPal or other services have a money protection guarantee, getting your money back can be a hassle.
For anyone who has ever dealt with PayPal returns, it’s not a guarantee, either. If you get into a “he said, she said” argument with the seller of fake shoes a PayPal customer service rep is not the one you want making a final decision on hundreds of dollars.
Another common mistake, is not warning PayPal about a surge in transactions.
If they’re not used to seeing a lot of movement in your PayPal account, many transactions in the thousands of dollars for used sneakers could get the account flagged. This is a headache, but it is one you can work around.
If you have to upgrade to a business account, so be it. Better than losing out on deals. Or having your hard earned money frozen in the account.
Finally, have a plan for management.
Do you have a good bank roll and plan on buying a large number of authentic sneakers before selling? Are you planning to buy shoes and then flip them quickly? You need to know how much space you have, have a plan for tracking inventory as well as expenses and profits, and manage your process.
Taking time up front to make sure you have the space, tracking setup, and a backup plan in case things go sideways will save you a lot of headaches in the future.
Are You Ready for the Rigors of Selling Used Shoes?
This post offers a great overview, but you will need more if you’re getting into the game of buying and selling sneakers. If you want to learn from the true expert and get much more depth for how to make this business work for you, you don’t need to start as a newbie.
Without a mentor, your chances of losing money and wasting time are higher since you’re competing with the experts.
If you’re ready to learn how to become a sneaker reseller, you’re going to want a mentor to speed up the process.
How to Learn More About Reselling Shoes
I recommend taking a look at the Six Figure SneakerHead – HypeMaster Playbook Here.
Make Up To six figures a month reselling shoesUse coupon code NICHEMONEY for an extra 10% off.
Reselling shoes is a fun way to make money as a part-time job, if not as a full-time one, and regardless of your age. If you are into basketball and hip-hop or if you have experience in flipping items before, then you are already a step ahead of other beginners in the game.
If you’re looking for other ways to make some money, look at buying and selling concert tickets.
Frequently Asked Questions about reseller sneaker
What is a sneaker reseller?
A sneaker reseller is simply a person who purchases limited edition pairs of deadstock sneakers and sells them for a profit to another consumer. To a sneakerhead there is nothing better than a deadstock pair of limited release sneakers. If kept in the box, their value appreciates.Dec 2, 2020
Is reselling sneakers profitable?
Compared to some other ways of making money online, the sneaker resale market is very profitable and valued at around $1 billion. While only 4% of shoes and sneakers are purchased upon release for resale, the market benefits from side hustlers and entrepreneurs who operate in different channels.Nov 11, 2020
Are resale shoes illegal?
Generally, it’s not illegal to resell an item that you have legitimately purchased. … Once you have purchased something at retail it is yours to do with as you choose. Manufacturers tend to have little or no control over a product past the first customer they sell to.Apr 19, 2013