SNEAKER RESELLING SIDE HUSTLE: Your guide to making
A Cowen & Co. analysis from July estimates that the sneaker resale industry is worth $2 billion in North America and could reach $30 billion globally by 2030.
As the market for valuable sneakers booms, entrepreneurs are making a killing by figuring out the best ways to buy and resell sneakers.
Insider regularly interviews sneaker resellers and experts regarding the best practices for breaking into the industry and scaling a business. You can read all about it by subscribing to Insider.
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With the sneaker resale market continuing to thrive, Insider is covering all aspects of how to properly scale a business in the booming industry. From which sneakers to purchase to necessary technological investments, made in the form of bots that entrepreneurs entrust to nab pairs online, the following covers everything you need to know about how to break into the market that Cowen & Co. estimates could reach $30 billion globally by tting startedSneaker reselling is based on a simple concept that guides many other businesses: buy low, sell high. You’ll want to figure out how to track expenses and figure out net profit on each pair sold. One entrepreneur who made over $125, 000 in sales since January 2019 showed us his spreadsheet that he uses for tracking profits. You’ll also want to figure out your strategy. While some people might prefer to invest in a few pairs and wait for them to grow in value, others utilize a high-volume sneaker resale strategy to make money by moving product quickly at slimmer margins. Others focus on acquiring rarer pairs that can fetch thousands at auction. Some have even developed mathematical formulas to determine the best way to buy and sell. Lastly, it can be helpful to take a look at some up-and-coming sneaker resale websites to learn about new ways to make money in the more: A 16-year-old who made $125, 000 in sneaker sales reveals his pro tips for young resellers looking to break into the multi-billion dollar industry A sneakerhead who made nearly $7 million in sales last year reveals his secrets to tapping into the exploding multibillion-dollar resale market
The top sneaker seller on eBay who made $1. 5 million in sales in 2019 reveals how he grew business to dominate the platformWe got a look at exact spreadsheet a 16-year-old uses to make thousands of dollars in sales as a major sneaker supplier to stores and boutiques5 up-and-coming sneaker websites that resellers and collectors should use in 2020 to boost profit and nab hyped pairsA sneaker reseller whose store has made millions in sales since 2018 shares the mathematical formula he uses to determine which pairs will skyrocket in value
Scaling your businessOnce you nail down the basics, here are some tools to guide you on the next steps of growing your business. While many sneaker resellers can start from humble beginnings, it can take just a few months to hit sustainable profit margins. Attending sneaker events like Sneaker Con is a great way to build connections and make fast sales. But as your business grows, it is important to keep track of all of your sales and expenses to ensure that you file your taxes correctly each more: Here are 5 steps that independent sneaker resellers live by to pay their taxes every seasonHow a formerly homeless sneakerhead with just $40 to his name built a multi-million dollar resale empire in 6 yearsA sneakerhead who has attended more than 20 Sneaker Cons reveals his top 6 secrets for making the most money at a resale event
3 sneakerhead sisters could fetch over $1 million by selling thousands of their classic Nike, Adidas, and Reebok shoes through an exclusive eBay auctionSneaker bottingIn the sneaker resale world, a “bot” refers to a software application that expedites the online checkout process and helps resellers nab hyped pairs online — including limited-edition drops. Though a controversial aspect of the sneaker world, bots are often essential for purchasing the latest releases at retail prices. In many cases, these bots are built by former sneakerheads and self-taught developers who make a killing from their useful product. Bots, like sneakers, can resell for hundreds of dollars. There are even some bots that are meant to help users nab sneaker bots at retail. While sneaker-nabbing bots can give resellers a leg-up, they are often the cause of much distress on the side of footwear companies who are looking to mitigate the more: A sneaker reseller who uses multiple ‘bots’ to nab mass quantities of expensive shoes the moment they drop explains why the controversial tech is worth itInside the controversial underworld of sneaker ‘bots, ‘ where coded scripts resell for thousands of dollars and Twitter monitors can make or break a release
A 16-year-old’s sneaker bot business charged $200, 000 in fees since October. Here’s how his 600-member group secures the coveted software before anyone a self-taught developer with no formal training made $700, 000 in sales this year from his sneaker bot, Splashforce, that nabs hyped pairs in just millisecondsAs sneaker bots explode, a veteran reseller and YouTuber with over 160, 000 subscribers reveals 3 steps to profiting from the lucrative techIn the arms race between teenage sneaker bot users and footwear companies, one side is winning — and it’s not the billion-dollar companies
Cook groups and online services:While they normally charge hefty membership fees, cook groups are exclusive forums that supply information for anyone looking to break into the multi-billion dollar market. They usually offer members access to botting services in addition to exclusive details related to drops. We got a look inside a couple of these groups, including Polar Chefs, a thriving cook group with over 400 members that was started by a teenager who employs 23 people to help him run the group. Cook groups are often run on Discord, a messaging platform that has become a hotbed for sneakerhead activity. Read more: Exclusive sneaker resale groups make millions by paying insiders to leak information on valuable sneaker releases before they happen. Here’s a look inside one of these members-only a teen’s exclusive sneaker cook group that makes him 6-figures in sales, employs 23 people full-time, and nabs pairs of the hottest sneakers on the marketHow Discord went from gaming and alt-right hub to a sneaker cook group hotbed, where resellers charge fees to share their secrets for cracking the $2 billion resale market
A college dropout runs a multi-million dollar sneaker cook group, AMNotify, with thousands of members across the world. Here’s how he launched one of the first exclusive sneaker forums from a hospital bed in vigating the industry during the pandemicWhile slowdowns in shipping and supply chains caused some problems for the sneaker industry early on in the pandemic, the value of certain pairs, like the Air Force 1 and Air Jordan 1, has remained strong. Experts say that some pairs, like the Nike SB Dunk Low Travis Scotts or the Jordan 5 Retro High Off-Whites, will likely skyrocket in value after the pandemic. The CEOs of GOAT, Stadium Goods, and Bump all predicted that the sneaker resale market will continue to grow, and the proof is in the businesses. One teen entrepreneur that we spoke to said his business soared during the pandemic, bringing in close to $500, 000 in sales during more: The CEOs of GOAT, Stadium Goods, and BUMP outlined the best ways for sneaker resellers to navigate the multi-billion dollar market in the pandemicThe coronavirus outbreak is wrecking the sneaker resale industry, but investing in specific pairs can soften losses. Here’s how to navigate the market in crisis, according to the head of China’s Sneaker Con.
These are the sneakers most likely to skyrocket in value when the coronavirus panic dies down, according to the founder of the largest sneaker event in the worldA 17-year-old entrepreneur made close to $500, 000 in sales reselling sneakers during quarantine. Take a look inside his pandemic-proof business model.
The Insider’s Guide To Sneaker Reselling – FashionBeans
Sneakers aren’t just for sneakerheads any more. Whereas 10 or 15 years ago you’d need an encyclopedic knowledge to get ahead in the collecting game, nowadays it’s easier than ever to get your hands on high-demand kicks which sell for even higher prices. That’s why it’s no surprise that sneaker reselling, once a niche market for trainer obsessives, has boomed into a full-on cottage rise of marketplace apps like StockX and GOAT, alongside the proliferation of social media sites where you’re just one DM away from turning a rare pair of trainers into cash, mean that more people are selling their shoes than ever before. The global sneaker resale market has been valued at over $1 billion, while the right pair of kicks can go for £5, 000 cash (or more) at UK-based sneaker havens like Crepe ’s a big pile of money lying at your feet, but how to take the first step to claiming it? Don’t worry, we – along with some of the industry’s major players – have got you CityHow Do You Start Sneaker Reselling? Not with your trusty Chuck Taylors, unfortunately. Or even your Balenciaga Triple S. If you want to get your head around the world of reselling sneakers, you need to know about limited releases – that’s when the big trainer companies only release a select number of their newest, most hyped sneakers (think the Nike Jordan collabs, or the new Adidas Yeezys). Collectors know the biggest sneaker trends, join mailing lists, download apps and queue up at sneaker stores. Those who manage to blag themselves a pair will either keep them to wear, sell them immediately, or keep them in mint condition, often with an eye to selling at a later date when their value has increased people who resell in-demand models immediately will often do so for a 200-300 per cent markup – they’ll buy them for £150-£200, and sell them for £400 or more. But then there are the resellers who hold onto – or, if they’re lucky, come across – an older limited release (think ’90s Air Jordans in classic colourways, or the original Nike Yeezys) this instance, fewer unworn pairs exist, meaning the resale price only goes up. Simple economics. These second-hand shoes will sell for more than second-hand all of that sounds like nonsense, here’s some good news: you don’t actually have to be a sneakerhead to make it big in the game. “Shoes are seen as a commodity now, ” says Crepe City founder Ron Raichura. “You’ve got people who used to be ticket touts buying shoes, because the market is so big. ”And while going full tout might earn you the ire of the sneakerhead community, a little bit of research will definitely help ingratiate yourself with the people you’re buying from and selling to. “You need to do a bit of research. Know what you’re buying, and where you should sell it. ”Online marketplace StockX is a good place to start – their ‘market watch’ function will allow you to track, stock exchange-style, which shoes are worth your valuable time and money. “You can see the demand which is already existing for these products before they’re released, ” says Derek Morrison, director of Europe at StockX. “If people are buying pairs early for way above retail, it’s pretty obvious there’s going to be money to be made off that shoe. ”For the more knowledgeable collectors, reselling sneakers is a career in itself – and it pays well. “You can make a living reselling sneakers, ” says Jasmin Miller, spokesperson for sneaker resale app GOAT. “In 2017, our top sellers each sold more than $2 million in sneakers. At the end of 2018, those same top sellers had each sold more than $10 million in sneakers overall. There’s a huge market looking to buy sneakers, and it’s only growing. ”GOATSneaker Reselling Tips From The ProsNow that Google has made every thrift shop attendant into a sneaker aficionado, you’re highly unlikely to find a pair of vintage Air Jordans in your local charity shop bargain bin. That means, for the novice reseller, new releases are your best bet. “Every other week there’s a pair of shoes coming out which you can make £30-£50 on, ” Morrison says. “Or you can buy several pairs, sit on them for a few months, and they’ll probably be worth even more. ” If you want to make real money, though, you’ll have to put the effort in. “There are at least a handful of shoes throughout the year which will immediately go for 5-10 times the retail value of the shoe, and quite a lot more which will go for a 3-5 times markup. Those are usually the ones where you have to enter raffles, or camp out for the weekend. If you get your hands on them, though, it’s like winning a lottery ticket. ”StockxSam Kersh, aka @sneakersocialite, is one of Instagram’s OG sneaker resellers, with over 150, 000 followers – so his advice is worth listening to. “You can find rare sneakers in all sorts of ways: general releases, resellers, suppliers in the industry and friends’ events, ” he says. As for how he makes his living, it’s all about using the tools already at your disposal: “I mostly use Instagram, eBay, and Facebook groups to sell stock, ” he your follower count is lacking, reselling apps like StockX and GOAT will give you an easy way of getting your product out there (as long as it’s something people want to buy). “It’s all about keeping an eye on the market and knowing what’s desirable, ” Morrison says. “For example, I know that there are shoes from nine years ago that Kaws did with Nike which are now going for £1, 000. And we see stuff go for £5, 000-£10, 000 every week. ”In terms of when to sell your most prized pairs, it might be worth holding out – limited releases from the best sneaker brands tend to only get more profitable with age, thanks to the scarcity of unworn pairs on the market. Because of this, you can even take the gamble and buy trainers at their immediate resale value, with an eye to ‘flipping’ them again a year or so later. “Sometimes the best deal is after they’ve already sold out, ” Morrison explains. “There are shoes from last year which are worth 150 per cent more than their resale value on StockX the day after they were released. ”GOATThe Best Sneaker Reselling SitesGOATThe aesthetically-pleasing online marketplace runs a tight ship, where all sneakers sold through the platform are authenticated by machine learning and human expertise. mStockXGOAT’s rivals set themselves apart with an analytical approach to the buying and selling game, featuring constantly updated market values and loss or gain on items. mCrepe CityThe stalwart brand run a heavily populated (and heavily-regulated) Facebook group for buyers and sellers, as well as regular resale events – check online for the next event. community marketplace for menswear enthusiasts doesn’t only focus on trainers, meaning you can spend your hard-earned cash on pre-owned Gucci and Supreme. mSole ExchangeAnother reliable marketplace app, set up by the shoe impresarios behind British retailer The Sole Supplier. For the newbies, that means they know a thing or two about trainers. GameIf all of the above sounds like a little too much effort, Kick Game will analyse and price your shoes for you in exchange for 20% of the profit. Best Shoes To Sell Right NowNike Air MAG Back to the FutureAnyone in the sneaker community will tell you these are the most coveted kicks out there. “Only 89 pairs were ever made, ” Miller says. “That rarity and nostalgia comes with higher price tag. A pair have sold on GOAT for $45, 000. ” Sells for: £20, 000-£40, 000See MoreNike Dunk SB Paris“They’re obscure, ” says Raichura of the second-most expensive shoes on our list. “There were only ever 202 pairs in existence, so it’s basically impossible to find a brand new pair in your size nowadays. ” Sells for: £10, 000-£20, 000See MoreAdidas Human Race NMD Pharrell x ChanelThe collaboration was done exclusively for Colette, a shop in Paris described by some as as ‘the trendiest store in the world’. “It closed about a year-and-a-half ago, ” Morrison says. Now the price tag makes a little more sense. Sells for: £6, 000-£10, 000See MoreNike Yeezy Red OctoberKanye’s final collaboration with Nike is ludicrously in-demand. “It’s almost like people have forgotten he made them, because he moved to Adidas soon after, ” says Raichura. “I actually sold a pair myself, for £6, 000, which is crazy. ” Sells for: £4, 500-£6, 000See MoreNike Jordan 1 Retro High Off-White“Anything around Off-White and Virgil Abloh is a safe bet right now, ” Derek says, of the designer du jour for everyone from Justin Bieber to A$AP Rocky. “Every single pair he’s released in the last 12 months has absolutely skyrocketed. ” Sells for: £1, 700-£2, 000See MoreNike Jordan 1 Retro High Travis ScottThe biggest new shoe of 2019, the limited release started when Travis Scott played the Grammys and sold out instantly. “Resale value pre-release is already hitting £1, 600, so if you’re able to cop for retail you’ll make some serious profit, ” says Kersh. Sells for: £1, 600+See MoreNike Air Fear of GodOne of Morrison’s current favourites: “You have people who do collaborations on the iconic existing silhouettes, but this one is interesting because Nike and Jerry Lorenzo actually created an entirely new silhouette. ” Sells for: £600-£1, 000See MoreNike Sean Wotherspoon Air Max 1/97“The price seems to be going up week by week, ” Raichura says. “Last summer they were selling for £400, now they’re selling for over £800. I think it’s because everyone was expecting to have a re-released this month, which hasn’t happened. ” Sells for: £600-£900See More
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 sneaker reselling guide
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
What is the best sneaker size to resell?
Among men’s sneakers, sizes 16 and 4.5 “carry the highest average resale multiple,” selling for nearly twice the amount of retail price. And among women’s sneakers, sizes 10.5 and 11.5 sell for 1.5 times that price.
Is reselling sneakers legal?
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. … If you’re using manufacturers’ logos to advertise the products you’re reselling, you need their permission.Apr 19, 2013