The Shoe Reselling Industry
Forbes estimates that the resale market for sneakers is estimated to be over $1 billion annually.
Nicks Notes: By carefully and expertly hyping each new product launch, the manufacturers cater to loyal fans and strategically never quite make enough to fully satisfy the demand. Its that constant shortfall on the supply side that fuels the resale market.
This is also trend that doesnt appear to be slowing anytime soon. That same Forbes article notes that the international sneaker market is up 40% since 2004.
Even though only an estimated 4% of sneakers end up being purchased for immediate resale, the market has attracted side hustlers and entrepreneurs. At the top of the heap, some resellers are moving more than $2 million in inventory a year.
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How To Invest On Otis
The Otis staff acquires assets, has them securitized with the U.S. Securities and Exchange Commission, and broken into shares. Securitizing is the process of turning an asset into a financial instrument to be bought and sold in financial markets. New assets are added each week. Otis members can buy shares of assets, and then they can sell shares to other members as well.
A daily clearing price is determined for the cost of the shares. This is a mutually agreed-upon price between a seller and buyer . When an Otis member places a bid, theyll enter the maximum price per share they are willing to pay and the number of shares. As long as this bid is at or above the clearing price, the purchase will be executed.
If the asset is liquidated, Otis keeps 10% of the profits, and the remainder is distributed to shareholders accordingly. Otis also charges an upfront sourcing fee between 0-10% that is included in your initial purchase of shares. Currently, Otis doesnt charge management or transaction fees for its investing services.
To open an Otis account, you must be 18 years of age or older and a U.S. citizen or resident. Youll also need a bank account to transfer money to your Otis cash account. Otis is open to both accredited and non-accredited investors.
Adidas Yeezy Foam Runner Mist & Stone Sage
- Retail Price: US$90
- Release Date: 11 March 2022
- Colourway: Mist & Stone Sage
While these are definitely an acquired taste, the adidas Yeezy Foam Runner in Mist & Stone Sage have become one of the most talked about trainers in the industry. These sneakers have seen a minimum 45% increase in resale value.
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Potential Scams / Lack Of Customer Protection
Ive used Kixify for about 4 years now and it was legit for the transactions I had in the past. I eventually began using StockX more because they have a higher chance of having the shoes I want, despite the high prices. Because of StockXs high prices, I went back to Kixify to find a better deal & was scammed out of my money. I purchased a pair of AJ1s and the resellers order under my account denied me access to the order details and tracking information. I reached out to the reseller, who refused to give me the tracking information directly & I reached out to Kixifys customer service & never heard back from them. I no longer trust Kixify nor believe them to be a legitimate platform to buy and resell sneakers. Kixify says they offer customer protection, but in reality they dont. Its not like StockX where they authenticate the products before delivering them to you. Kixify has zero protection for their buyers against fraudulent resellers. If youre looking for a safe way to enjoy your hunt for DS shoes, dont use Kixify. StockX may be high, but you get what you pay for. Quality over quantity.
Tips For Selling Sneakers For Cash
Now that you know some of the best places to sell sneakers for cash, here are a few useful selling tips to keep in mind:
- Clean Your Sneakers: This is an obvious tip, but clean your sneakers before selling them and taking photos for your listing so theyre as presentable as possible .
- Upload Multiple Photos: Take as many photos as possible of your sneakers when listing online. Also take a photo of the tag of the inside of the sneakers and the sole of the sneakers.
- Write Great Descriptions: When listing, mention information like size, brand, color, condition, and anything you can think of that would help buyers make a decision. You can also mention where you want the buyer to pick up their sneakers or if youre willing to drive somewhere to exchange.
- Research Competitor Pricing: How much are other sellers listing similar sneakers for? You dont have to undercut the market unless you want a very fast sale, but price yourself similarly so you actually get buyers.
This Facebook Marketplace listing where someone is selling Nike Air Max Bellas is a perfect example of a good listing. The buyer mentions brand, condition, size, why theyre selling, and the pick up location.
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The Most Coveted Sneakers At Resale Sites Right Now
With so many coveted drops out each week, the resale market has fast become the primary destination to get your hands on the most coveted kicks. And though platforms such as Stadium Goods and StockX are often home to sneakers reselling for under retail, you’re more likely to encounter sought-after pieces with price hikes to match.
Having recently brought you some of the most expensive items at resale sites, we’re now highlighting some of the best selling sneakers of the moment, according to StockX’s number of sales over the past 72 hours. Unsurprisingly, brands featured in this list include the highlights of recent Nike, Jordan, and YEEZY releases.
Coming out on top is the Air Jordan 1 “Crimson Tint,” with 1,585 sales and counting. Other noteworthy mentions include the YEEZY Boost 350 V2 “Clay” with close to 1,400 sales followed by the “Black Cement” Air Jordan 4 and the Seoul edition of the Nike: On Air pack, currently sitting on 617 sales.
And while these kicks come with hefty price premiums, the best selling sneakers aren’t always the ones that’ll break the bank. In fact, some of the top selling sneakers of the past four days such as the “La Mezcla” Air Max 98 come with resale price tags below the original MSRP.
Scroll on to view more of the best selling sneakers at resale.
Please note that prices are subject to change due to resale hikes and fluctuations, so prices might not be 100 percent accurate at the time of reading.
How To Get The Same Sneakers Resellers Get
As you can see, there are many places where a reseller can get their sneakers. It may seem overwhelming and confusing as to where to start sneaker reselling. The key is to know where to get the sneakers that will give you an advantage over other resellers.
There are some good websites like solelinks.com and sneakernews.com that will typically share where you can find sneakers on release day. However, I have found that these websites miss a lot of locations.
Ultimately, the best way to find out where sneakers are dropping is through a good cook group. There are a few good cook groups that actually have inside connections and information on where sneakers are being released. So while the hoards of people flood the well-known sites, you can easily cop from the stores that not many people know about.
Not only that, but good cook groups will provide restock monitors. This means you will be notified instantly if a hype sneaker that was sold out has restocked. These restocks typically happen when orders are canceled or returned.
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Is Becoming A Sneaker Reseller The Right Side Hustle For Me
If youre a self-driven entrepreneur, you can make good money selling sneakers. Possibly even enough money to replace your 9-to-5 income if you hustle hard enough.
If youre going to build a business, its easier to put in the work if its something youre passionate about. If you enjoy sneakers as a fashion statement or consider yourself a sneakerhead, this side hustle could be a particularly good fit.
It can also be ideal for those who might already know they enjoy collectible industries. Even if the product is different, the experience of the work is similar. Its that same thrill from searching for a great deal, getting your hands on it and then raking in the profit.
Brynne Conroy is a contributor to The Penny Hoarder.
How To Find The Best Shoes
To invest in sneakers, you first need to find shoes to sell. Shoes arent hard to find, but shoes that might sell for a profit are harder to come by.
You can purchase new shoes in retail stores or online. Some companies have even created mobile apps to manage releases of new shoes. Nike created the SNKRS app, which allows you to get information on upcoming releases and set up notifications when a sneaker sale drops. You can then purchase shoes directly through the mobile app. The Adidas CONFIRMED app offers a similar experience for fans of its shoes.
Unfortunately, buying sneakers through these mobile apps involves a lot of luck. The competition to purchase them first is fierce and often leaves many buyers empty-handed. Shoe retailers also utilize raffles and social media contests to determine who gets a chance to buy exclusive sneaker releases. Again, theres luck involved to land a spot in line to purchase exclusive sneakers. You can buy sneakers at secondary sneaker resale websites, but youll pay a premium, cutting into potential profits.
The good news is these arent the only places to look for sneakers to resell. Stores like TJ Maxx, Marshalls, and retail outlet stores often carry quality shoes at discounted prices. Also, check the clearance racks at department stores, shoe stores, and other retail locations. Thrift stores could be another option for finding hidden gems since people looking to turn old stuff into extra cash might not realize exactly what they own.
Sell With Flight Club
Selling with Flight Club is the easiest way to move your new and lightly worn sneakers. With our network of retail stores in New York, Los Angeles and Miami, in addition to a premier online experience, Flight Club offers the best liquidity and sell-through in the game, at the most competitive prices available anywhere.
Ready to sell with Flight Club?Create Your Account Here
Once youve registered, heres the selling process:
Best Sneaker Reseller Sites To Use In 2021
After you acquire many sneakers from different sites, find a credible platform to resell the items. We have sorted out the best resell platforms that you can use to maximize your profit.
You have finally gotten the latest sneaker releases. Do you know where you can sell the excess sneakers to gain a profit? These are some credible platforms that you can partner with to sell the items. Moreover, in some, you can even sell used items, though many of the platforms require new items.
You can sell a wide variety of items like sneakers and clothes. If you are looking to dispose of your items, consider any of these credible selling platforms. They all have different terms, fees, and shipping charges. Hence, do proper scrutiny before choosing a specific platform. They are all favorable considering you wont have the hustle of sorting buyers.
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How Do You Deal With Fakes
Although there are plenty of fakes on the market, there are also plenty of resources that will educate you on fakes and how to spot the differences.
As a buyer, you can ask for detailed, tagged pictures and compare them to the numerous tutorials on YouTube or on sneaker forums that will give you a good idea of whether theyre authentic or not.
Also, if its a new release, only deal with people who include the receipt from the store that they purchased. That way youll know theyre real and also if its your intention to turn around and resell them, then you can prove to buyers theyre the real deal as well.
Another issue when dealing with fakes is selling authentic shoes but having the buyer try to claim that theyre fake. This can be solved by including a receipt as mentioned previously, or you can take detailed pictures as youre shipping to prove that you are in fact shipping authentic shoes.
Be sure to include tracking with signature required and insurance so the buyer also cannot claim that he or she never got the kicks.
Wheres The Best Place To Resell Shoes
Still, I love the feeling of doing in-person deals either through Craigslist, sneaker conventions, or Facebook/Twitter groups.
Obviously, selling in person requires extra precautions, but if you use common sense and deal with good people through networking, youll get the best prices from in person on the buying side because online sellers are paying for shipping and fees to the platform that theyre selling on.
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What Makes Them So Good
Everything they sell is ridiculously cheap. They also have many different vendors which means the selection is excellent. They also have a huge user base which means that the marketplace is competitive which keeps the prices down. Their websites and online systems are also a breeze to use.
You should browse through these and see what you would like to resell. You will find that they offer significantly cheaper prices relative to retail stores.
When using the resellers above which we mentioned you should be careful not to get taken advantage of. Some vendors may try to fleece you, and it is important to properly vet them. We have put together some vetting questions that you should have an answer to. They are:
You want to buy from wholesalers who have a strong track record and good customer reviews.
Being successful reselling is more than just finding a cheap product you need to market your listings in order to make it successful. It is helpful to create a marketing plan.
That way you know you can make consistent sales. The way to do this is with a marketing plan. You should select from the many marketing methods and see if there is a market for it.
Most Popular Expensive Shoes To Resell
- Air Jordan 12 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 the most expensive sneakers based on his shoes alone.
- The most affordable pair of Jordan shoes could go for $4,500 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.
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Air Jordan 4 Lightning
- Retail Price: $220
- Release Date: Saturday, August 28th, 2021
Originally released in 2006, the Air Jordan 4 Lightning makes a return this August so keep your wallets ready as itll likely be a very lucrative drop!
Uppers consist of vibrant yellow leather with yellow laces and what appears to be mesh netting along the throats and side panels. Black/white midsoles and black outsoles complete the design.
Although no data is available as of yet, I expect a resale value of around $500. The 2006 versions are currently selling for north of $1,800 so theres no telling just how profitable these might be.
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