The sneaker reselling industry offers a profitable opportunity for those who are passionate and knowledgeable about sneakers. By identifying sneakers with high resale value and purchasing them at competitive prices, you can tap into a thriving market and make a healthy profit. This article will walk you through the essentials of the sneaker reselling business, from finding the best shoes to buy and sell to navigating the potential pitfalls of the industry.
As you explore the world of sneaker reselling, you’ll discover the most sought-after and valuable shoes, as well as the best platforms to sell your sneakers. Additionally, you’ll learn tips and strategies to help you maximize your profits and avoid common mistakes in this exciting niche.
- The sneaker reselling market offers significant profit potential for informed and savvy resellers.
- Finding the most valuable sneakers and choosing the right platforms to sell them are critical to your success.
- Knowing how to identify fake sneakers and avoid common pitfalls will help you excel in the sneaker reselling world.
Sneaker Reselling for Beginners
How Much Can One Earn from Sneaker Reselling?
Earning from sneaker reselling can potentially reach millions. Successful sneaker resellers like JV have made over $10,000 per month, even after just four months. The exceptional case of Benjamin Kapelushnik, better known as Benjamin Kickz, boasts of making his first million in 2016 after starting in 2013. While these high profiles may not be the norm, profits as a beginner can still range from $80-100 per pair and even increase to $500 per pair as you gain experience.
Purchasing and Trading the Most Valuable and Desirable Sneakers
The most sought-after sneakers primarily come from two brands: Nike and Adidas. The resale market for their sneakers has skyrocketed over the years, making them the go-to brands for collectors and resellers.
Trendiest High-End Sneakers for Reselling
- Vintage Air Jordans 12 (Over $100,000) – The Air Jordan line by Nike is one of the most expensive brands in the market. The Jordan 12 collection, in particular, marks an impressive price point of $104,000 for the Air Jordan 12 Flu Game shoes.
- Nike Air Yeezy 2 “Red October” ($6,000) – This collaboration with Kanye West saw the sneakers initially retail for $250, but now they resell for between $5,600 to $6,400.
- Nike Air Mag Back to the Future (Over $10,000) – This limited collection features only 1,500 pairs, all sold via auction, inspired by the sneakers worn by Marty McFly in the film Back to the Future 2.
- Travis Scott Air Jordan 1 Nikes (Over $4,000) – These sneakers, retailing initially at a price below $200, have a current resale value of between $2,000 to over $4,000.
While other brands, such as Under Armour, Big Baller Brand, and Louis Vuitton, are making waves in the sneaker market, it’s recommended to focus on the top brands when starting as a sneaker reseller. This allows you to become well-versed in the sneaker resale market, secondary markets, and detecting fake sneakers before diving into the more niche sneakers.
How to Sell Sneakers 101
Finding Shoes to Purchase and Resell
To begin, you need to understand the sneaker resale market. Like the stock market, some sneakers start with low demand and gradually increase in value, while others may be popular initially but lose appeal over time. Focus on buying sneakers at retail prices on their release day for the best bargains before their value rises.
Top Locations for Buying and Selling Shoes
Platforms like StockX serve as intermediaries between buyers and sellers. This is convenient for buying and selling directly through the website, as well as ensuring authenticity. For a more personalized approach, try Facebook Marketplace, Facebook Groups, Craigslist, or eBay. Be as detailed as possible in your descriptions and build trust by being honest and transparent.
Assessing the Resale Value of Sneakers
To determine a fair price for resale sneakers, utilize platforms like StockX that show the fluctuations in sneaker prices over time. Animate with the market to find the right price that satisfies both you and the buyer. Starting small helps minimize your initial investment and allows you to learn the industry while reducing potential risks for your buyers.
Acquiring Multiple Pairs of Shoes for Reselling
Many sneaker resellers use sneaker bots to snatch up limited-stock items quickly. Software like AIO Bot scans websites for your desired shoes and automates the purchasing process. Combine this with manual searches on eBay and price comparisons on StockX to maximize your chances of finding valuable sneakers.
Identifying Fake Sneakers
To avoid buying or selling fake sneakers, consider the following checks:
Criteria for Spotting Counterfeit Shoes
- Request tagged photos: Ask the seller for high-resolution, tagged photos of the sneakers. Cross-reference these images with official photos and consult Fake Education on Instagram for tips on identifying replicas.
- Inquire about receipts: For new purchases, ask for the receipt as proof of authenticity. The receipt will also help you resell the sneakers, since it verifies their legitimacy.
- Conduct research: Look at the seller ratings and reviews on Amazon and eBay, avoiding those with ratings below 95%. Additionally, check whether the reviews are genuine and not manipulated by competitors or created to boost the seller’s rating.
- Trust your instincts: Use your judgment and follow your gut feeling when determining the authenticity of sneakers.
Sneaker Reselling Tips and Things to Remember
Important Points for Shoe Reselling
Keep in mind that when reselling shoes through personal channels like Facebook Groups or Sneaker Con, you might come across shady individuals. Be careful when sharing personal information and try to gauge the trustworthiness of potential buyers. Utilize tools like the GOAT app for buying and selling sneakers as it is popular among sneaker resellers. Focus on creating an efficient and scalable process to increase your income over time.
Drawbacks of the Shoe Reselling Business
Being aware of the potential challenges within the sneaker reselling industry is crucial for success. Before diving into this business, keep the following concerns in mind:
Issues to Consider in Sneaker Reselling
- Complex marketing strategies: Be prepared to keep up with ever-evolving marketing methods such as apps for reserving shoes, social media contests, and raffles.
- Unfair competition: Sometimes, others may have an unfair advantage due to connections within the industry, like the high-profile case of Ann Hebert, former VP of Nike North America, whose son had a million-dollar reselling business.
- Potential for violence: Due to the high price tags and increasing value of sneakers, violence can be a risk in the industry. Be aware of this burden when selling directly to customers.
- Impact on genuine collectors: Reselling sneakers at higher prices can potentially deprive genuine collectors and enthusiasts from pursuing their passions, as retailers devote more marketing efforts to target resellers.
Mistakes to Avoid while Reselling Sneakers
Being mindful of common pitfalls can help you succeed in the sneaker resale market. Keep these points in mind to avoid mistakes:
- Trusting too easily: Whenever something feels off or raises red flags, always trust your instincts. Be cautious with sellers of fake shoes, as getting refunds through PayPal or other services can be challenging.
- Not informing PayPal about sudden transaction surges: Large sales volumes may flag your account if there’s a sudden increase in transactions. Inform PayPal or upgrade to a business account to prevent account freezes and other issues.
- Lack of management and planning: Organize your business by properly tracking inventory, expenses, and profits. Plan the available space for storing shoes and have backup plans in case of unforeseen circumstances.
By keeping these tips and factors in mind, you can navigate the sneaker reselling business more effectively and boost your chances for long-term success.
Are You Prepared for the Challenges of Sneaker Reselling?
Sneaker reselling can be a rewarding venture, but it’s essential to equip yourself with the right knowledge and skills to build a thriving business. Whether you’re new or already engaged in the practice, having a mentor can greatly enhance your odds of success in this competitive field.
Expanding Your Knowledge About Shoe Reselling
Reselling shoes can be an enjoyable way to earn supplemental income or even turn it into a full-fledged career, regardless of your age. If you’re passionate about sneakers or experienced in flipping merchandise, this endeavor might just be the perfect fit for you.
In addition to learning the ins and outs of shoe reselling, consider exploring other money-making ventures, such as buying and selling concert tickets. Embrace a well-rounded approach to mastering the world of reselling to help maximize your profits and minimize risks.