Get A Toe Into This Online Marketplace
You can bet your boots on this one: plenty of people buy pre-loved shoes every day. Go online, take a look. Thousands of people sell their shoes. Sure, most are womens but theres a market for mens footwear too.
Ordinary flats and oxfords make up most of the shoes people list. Right now, a pair of Christian Louboutin heels is selling for $650 on eBay, despite being in a clearly pre-worn condition.
Contrary to what you might think, the bestsellers arent the killer 18 platform heels or collector-item sneakers worn by celebrities. Rather and this is how we know used shoes are the new crypto-currency for ordinary people like you and me the most consistent sellers are practical shoes. Yes, the type worn in their thousands on trains and planes. And in similar thousands, discarded as having no real value after the fact.
So, have a dig around your place. Your footwear doesnt have to be in mint condition and even the more worn out pairs might find a buyer. Read on and sell your shoes.
Stay Safe From Scammers And Worse
Be wary of people messaging you with a price too high for the item. This should set off the alarm bells. Typically, theyll offer to pay the larger amount on PayPal to avoid any eBay fees. If you send them your PayPal account details, youll get an official-looking email confirming the money has been sent but itll only be in the account after you ship the product. This is, of course, a lie. Youll never see that cash.
Keep a close eye on buyers with zero feedback on their accounts. Or if the positive feedback they do have is from accounts that are barely used thats fake accounts the buyer has set up to simply provide praise for their active account. Either way, rather be safe than sorry.
Never share your personal contact details or address. No-one needs to pick up the shoes from you in person. Just use eBays messaging system. And, if you ever feel uncomfortable, remember that you can report a buyers behaviour to eBay. Other sellers they approach in future may not be as cautious as you are.
How To Learn More About Reselling Shoes
I recommend taking a look at the Six Figure SneakerHead HypeMaster Playbook Here.
Use coupon code NICHEMONEY for an extra 10% off.
Reselling shoes is a fun way to make money on the side, if not as a full-time income regardless of your age. If you are into sneakers or if you have experience in flipping items before, then you may seriously want to consider getting into this hustle.
If you’re still hungry for other ways to make some money, you may want to consider buying and selling concert tickets.
Also Check: Women’s Fila Disruptor Ii Premium Sneakers
How To Find Shoes To Buy And Sell
Before you can even begin finding shoes to buy and then resell, you need to understand the market.
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 in the beginning 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 often where they are at their most affordable.
Some Common And Costly Mistakes
Although I had done my research, I was still in over my head and had a lot to learn. After my biggest month, I made some preventable mistakes that nearly caused me to lose everything I had earned.
First, I ended up with some fakes and it was a mess trying to get my money back from the seller or PayPal.
Nicks Notes: As you might expect with shoes that sell for $1000, theres a thriving black market for counterfeit sneakers.
The other issue I ran into was with my PayPal account itself. They werent used to me taking in such large amounts of money per month, so PayPal put a hold on my money. Since I relied on reinvesting that income into more inventory, that hold took me several months to recover from.
I think I could have avoided that if Id warned them in advance that I would be taking in as much money in a month that I used to take in in a year, but then again I had no idea that I would make so much money so quickly!
Fortunately, I made a recovery and have gathered more knowledge than if it had been smooth sailing from the very start.
You May Like: Does United Healthcare Have Silver Sneakers Program
Sneaker Reselling: Volume Is King
When youre starting, you dont need to buy the most expensive sneakers on the market. In fact, what you should be looking for isnt necessarily the most expensive sneaker instead, you should be looking for the sneaker with the highest return on investment.
Volume is king in the sneaker game, says Honjo. Ive seen many successful resellers completely bypass the expensive, hype sneakers and go straight to the Nike outlets to find cheaper shoes that they can resell for a higher profit.
He notes that not every shoe will go for a profit, though. Its helpful to cross reference any prices you see at an outlet or retailer with an app like Goat. That way you can see what the shoe is reselling for in real time, estimating your potential profit margins.
Best Places To Resell Sneakers
Today there are so many ways to resell sneakers. Thanks to technology, it has made shopping super easy for customers these days. Even though there are many places to sell them, some places are better options than others. So in this post, I will be sharing my experiences and what I consider to be the best places to resell sneakers.
The best places to resell sneakers is going to be dependent upon different circumstances and variables. The most important thing to consider are the fees associated with reselling sneakers. Seller fees, shipping fees and taxes are going to be the biggest chunk of expenses that you will accrue.
You May Like: Best Sneakers For Running And Working Out
Best Reselling Sneaker Retail Stores
Retail stores? What is that? If someone had asked me this question before the phenomenon of online shopping, I would have given them a quizzical look. But considering the times we are living in today, a definition is much needed.
Retail stores: A physical store owned and operated to sell or in our case resell consumer goods.
Now, that we have got that away. phew!! Let us look at the 2 best options for reselling sneakers.
There are a good number of retail stores where you can sell your sneakers. However, there are not many where you will actually end up selling and making a nifty profit. Two such stores: Flight Club and Stadium Goods.
Stay Informed Of Sneaker Trends
Sneakers are a very important part of fashion especially for those that are interested in streetwear. However, since it is apart of the fashion industry, it also means that trends change over time. Meaning that it is a very volatile market. With volatility comes high risk and high rewards.
Other industries are subjected to the concept of supply and demand. If you want to resell sneakers for profit then you will need to understand the concept of hype and supply. Being able to resell a sneaker for profit is going to be dependent on hype and how much supply there is.
Demand Doesnt Always Equate to Hype
The concept of supply and demand also applies to the sneaker industry. However, just because there is demand behind a sneaker doesnt always mean there is the hype behind it. One good example is the Jordan 11 Breds that dropped in 2019. The demand for these sneakers were high based on it being a classic sneaker. However, there wasnt much hype behind it.
As a result, the Jordan 11 Bred typically sold around $287 in money sizes. The retail price was $220. So after paying for shipping and handling along with any transaction fees, then you may have walked away with a $40 profit.
Collaborations and limited edition shoes come with high hype. Good examples are the Travis Scott and Nike Collaborations. We are currently seeing some of those sneakers resell for over two thousand dollars.
Also Check: Which Sneakers Should I Buy
Want To Get Rich Selling Sneakers Start Flipping Bricks
Dont miss GQs definitive guide to everything kicksfrom thetypes of sneakersalways worth copping to the best ways to score the next hot drop.
Santiago Mejia is a sneaker reseller based in Lewisville, Texas. On his Instagram pageyou can see him at home, under what looks like a mountain of orange Nike shoeboxes: towering to the ceiling, sprawling up the staircase, piled to the point of nearly falling over. In one photo, hes at an outlet store with a pair of shopping carts literally overflowing with discount sneakers in another, one of his kids is working at a desk surrounded entirely by shoeboxes and a tottering pyramid of shoes.
This content can also be viewed on the site it originates from.
In resale lingo, brick flipping means buying and selling readily available sneakers at or under their cost at retail. Bricks are contrasted with sneakers described as hypeshorthand for any shoe that resells for more than 50% over its original sticker price. Last months Jordan 1 High Hyper Royal, which has been selling for roughly 150% of its retail cost, is hype a classic, ubiquitous white Air Force 1, of which guys like Mejia have hundreds, is a brick. The former is hard for even high-level resellers to get ahold of, but is virtually guaranteed to score huge profits. The latter is easy enough to find, and their margins are slim, but they are consistent and reliable.
Quick Steps To Research Your Right Price:
- Search for the item you want to price
- On the search results page, scroll down on the left margin and tick sold listings and pre-owned
- Tick any of the other filters that apply
- Sort the results in highest to lowest to see the best price associated with the item
Completed listings are the best to look at on eBay during this process as an active listing doesnt reflect selling price just the asking price. This way youll see the factors that affected the sold item, such as if shipping was included or what time of year it was .
Read Also: Best White Socks For Sneakers
Places To Resell Sneakers For Profit
Inside every giant industry is a bunch of smaller ones. And inside the shoe and sneaker industry exists yet another one the business of reselling sneakers. The sneaker resale market alone is valued at over $2 billion dollars . And so, with a great amount of money comes a great amount of resources.
The sneaker market even has a subculture of its own with its own agenda. There are specific sites, apps, and places to resell sneakers for profit, including hundreds of tutorials, YouTube videos, and how-to guides from sneakerheads who’ve seen wild success from buying and selling shoes both on and offline.
But if there’s a market out there, that means there are competitors, too. While selling sneakers isn’t saturated per se, it is becoming more of a challenge to widen margins and lower costs because of seller’s savvy know-how and business tactics .
Nonetheless, there is still lots of money lying on the table when it comes to the sneaker resale market. Read on to learn about the best places to resell sneakers for profit!
- Fee: 9.5-14.5% + transaction fee
- Type: Marketplace + App
StockX is the go-to place online to resell deadstock sneakers, even though it’s outgrown itself and deals in categories other than shoes like trading cards, collectibles, and designer items. Nonetheless, its primary market is still geared toward buying and selling sneaker brands such as premium Air Jordans, Nike, Adidas, Yeezy, among dozens of others.
How To Buy The Right Sneakers
Scarcity is the secret sauce. The most successful outfits were the ability to lay hands on shoe models produced in smaller numbers than demand required. When the stock dries up on the store shelves, desperate buyers drive up the price profits are born.
The right sneakers to buy are the ones that will be the subject of the supply/demand skew sketched above. No sense in hoarding shoes that nobody wants.
Theres a four-step algorithm to optimizing your shoe stock mix:
1. Master the release cycle.
2. Mine the market.
Don’t Miss: Dolce And Gabbana Sneakers White
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.
Scaling Up The Sneaker Flipping Operation
I kept reselling pairs in that range until I had enough money saved to buy a pair of shoes for $900. After a few anxious days of waiting, I was able to flip them at $1200 for a profit of about $200. I also began to learn how to secure these $1000 shoes at retail for insane profit margins of over $500 per shoe.
I started as an absolute outsider and 4 months in I cleared $10,000 for the month.
Once you know what youre doing and you take the time to build your reputation and stay on top with sneaker news, the consistency and ease of selling aftermarket sneakers amazes me to this day.
Also Check: Golden Goose Slide Sneakers Black
Guide To Reselling Sneakers For Profit
Reselling hype sneakers has become all of the hype now. There has been news that has been published that talk about the billions of dollars that are made from the sneaker industry. As a result of that, you may be interested in learning how to resell sneakers for profit. So I figured that I would give you some tips that I have learned so far.
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. People are making life-changing amounts of money fully focused on reselling shoes.
However, this isn’t easy to do. 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 ever since.
Sneaker collecting is very much a thing. And for individuals who can get a good deal on rare sneakers like a limited-released pair of Nike Air Jordan 2 Just Don or the Nike SB Dunk, the reselling sneaker business can be ridiculously profitable.
You can work your way to generating higher margins if you get better sneakers to resell, potentially up to $500 per pair.
This is not a bad way to make money, and you’ll learn the exact process later on.
You May Like: Adidas White Leather Sneakers Mens
Ebay Sneakers Final Value Fee January 2022
In January 2022, eBay implemented an 8% final value fee as the only fee for the sale. This is still lower than selling on any other platform.
Even competitors such as Poshmark, Mercari, and Depop compete, in addition to GOAT, StockX, or Stadium Goods. The only slight advantage of Poshmark would be that all sales are final. So as long as everything about your shoes is disclosed, including flaws in your listing, you will not have to deal with a pesky return.
Even at the new 8%, your total fee will still be lower than anywhere else. Buyers also have an added assurance that sneakers are authenticated. For specific questions regarding eBays new fees, here is the link.
So for a $100 sale, here is a table comparison of the total fees that you would be paying.
|$13.98 with PayPal$13.20 with Depop Payments|
For sneakers and mens and womens athletic shoes below $100, the fees are the same as before. Final value fees are 12.55% for non-Store sellers and 11.7% for Basic and above Store subscribers. That is overall still lower than any other platform.
Things To Keep In Mind When Reselling Shoes
With more personal, informal selling like in Facebook Groups and even in Sneaker Con, expect to encounter shady people.
Like all hustles, sneaker reselling attracts all kinds of self-interested characters. You need to discern which among your potential buyers are trustworthy. And you need to be very careful when sharing personal information.
There are also more tools that you should look at including the GOAT app. This app is great for buying and selling sneakers and is huge among sneaker resellers.
It’s 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 your inventory.
The goal is to create an efficient and scalable process. As you upgrade to more expensive items you can exponentially increase your income. If done successfully, you can start buying in bulk and multiply your earnings even more!
You May Like: Gray Suede Slip On Sneakers