Where Do You Buy These Shoes To Resell
I like to buy older models either through eBay or Facebook groups and sneaker conventions.
For new shoes, youll go directly to the brands website and either press your luck right on the release time or you can utilize a sneaker bot to greatly increase your chances of securing a pair at retail price.
There are also authorized retailers that stock desired shoes, like FootLocker or Eastbay, but its best to go with lesser-known sites like Mr. Porter and END to increase your odds of getting the shoes at retail.
Applying The 10x Rule
Thinking back again to the successful commodity traders, I recognized the obvious fact that the reason that these traders became millionaires is because they were trading in large quantities of money.
I had also been watching the TV show Million Dollar Listing at the time, where real estate agents made as much money selling one house as the average American would earn in a year. They did basically the same amount of work as the typical real estate agent but made ten times more simply because they were selling houses that were ten times more.
I was selling $50-$100 items and making about $10 per sale and $50 per week, so I thought, why dont I sell items that are priced at $500-$1000 and make $100 per sale and $500 per week?
A similar amount of work for 10x the results.
I had saved some money and was ready to start flipping more expensive items but wasnt really sure where to start, so I searched for higher ticket items to sell. I knew luxury items were expensive, so I researched high end designer items and expensive watches.
Through my research though, I found that it was nearly impossible to make money reselling name brand luxury items. In fact, they were almost universally selling for less on eBay than they were in the store, even when they were on clearance.
Every now and then, I would find a luxury item on deep clearance at the mall and see on eBay that I could make a profit, but that the margin would be too thin and the sale too slow to justify the upfront investment.
The Stockx Buyer And Seller Bonuses
StockX rewards those who sell a lot with lower fees. In the account overview, you can see the current seller level and how high the transaction fees are.
The higher the sales and the amount sold, the less fees you pay. The fees are reduced in graduations from 0.5% to a minimum of 8% fees.
In the account overview above, you can also see the Buyer Punchcard, which is a kind of stamp card for buyers. After every 5th purchase of a sneaker, you get a shipping voucher for $13.95. This covers the amount for the shipping, so the shipping becomes free.
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Great App Even Better Service
Do you use Instagram? If so youâve used the official Kixify app. That is by no means a bad thing. If it works and is seamless, why not? Imitation is the sincerest form of flattery as they say. That aside, this app is extremely user friendly and might I say almost addictive, if you love shoes that is. Itâs a virtual sneaker shop that can be endlessly configured to your liking. Looking for Deadstock only? How about lightly worn? Maybe fixer uppers? Itâs all here. As a buyer itâs simple as can be, and as a seller I can manage my orders and messages with ease.May I suggest adding some more metric features for sellers within the app that are present on the web version? That and the fact that the add picture function in the messenger section has never appeared to work.Small fixes but a great user experience and reliable and fully authentic service.
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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.
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Can You Sell Used Shoes On Stockx
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StockX is a popular online marketplace for sneaker lovers and enthusiasts to sell and buy shoes. Alexa, a friend of mine, is a frequent user of this platform. This platform, she explained, allows purchasers to learn more about the shoes theyâre interested in. So, I asked her once, can you sell used shoes on StockX as well?
She said, NO! I can only sell my unused school or college shoes, sitting back in my shoe rack for long years. I can also check StockX to see if my items have been sold or not. Moreover, they ensure that they arenât left with unsold inventory that no one wants to buyâthe cost at which others are selling them.
In this post, Iâll go over everything you need to know about StockX, including how the platform works for individuals, whether you should sell worn shoes or not, and how StockX classifies deadstock footwear.
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 whove seen wild success from buying and selling shoes both on and offline.
But if theres a market out there, that means there are competitors, too. While selling sneakers isnt saturated per se, it is becoming more of a challenge to widen margins and lower costs because of sellers 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!
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What Happens If My Items Are Found To Be Fake
If you send items to us that we deem inauthentic or unsellable in our sole and reasonable discretion, the buyer will be refunded the full amount they paid for the items and you will have the option to have the items sent back to you or disposed of by us. If you choose to have the items sent back to you, we will send you an invoice for the shipping costs back to you. If you do not respond within 14 days of receiving notice that your items are inauthentic or unsellable or if you do not pay the shipping invoice within 14 days of receipt, we will dispose of the items in our reasonable discretion.
For Mainland China sellers: At this time, if you send items to us that we deem inauthentic or unsellable at our sole and reasonable discretion, we will dispose of the items and you will not have the option to have the items sent back to you.
Will I Receive A 1099
A seller may receive a 1099-K when certain sales and transaction thresholds through third-party settlement organizations are met. If you are not based in the United States, do not cash out in USD, or do not meet the threshold requirements set forth below, you may not receive a 1099-K.
Our third-party settlement organizations will mail out a 1099-K to you if your gross total reportable transactions exceed $600 USD for the calendar year. Please note this threshold is a change from prior years.
Effective January 1, 2022, new IRS regulations have significantly changed the reporting thresholds for third-party settlement organizations associated with Form 1099-K from $20,000 USD gross payments and 200 transactions in a calendar year to a threshold of $600 USD in aggregate payments with no minimum transaction requirement.
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How To Buy & Sell The Most Expensive And Sought
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 withstood the test of time and exponentially increased their value since their release.
Below are some of the most hyped sneakers in the resale market pioneered by the two big brands:
Sell Sneakers On The Go
These days, we do everything on the goincluding shopping and even selling. So, weve created the Ecwid Mobile App , which allows you to sell your sneakers online and run your business from the palm of your hand. Manage orders, add new sneakers, modify inventory, accept payments, and more from a single control panel.
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How To Assess The Value Of Resale Sneakers
A new pair of valuable sneakers can 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?
Again a site like StockX will be very helpful. The site shows how much the shoes and sneakers cost over a 12-month period.
Just like a stock market index graph, you will see the range of how much the shoes are sold in the market over time. Which in turn will help assess which shoes to acquire for reselling.
You’ll need to 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 an unfair price is the one that no one will buy.
It’s a good idea to start small when you buy and sell shoes. This keeps your initial investment low, allows you to learn the game. Plus your buyers will be more likely to take a risk when their investment is low too.
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.
How To Sell Sneakers 101
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.
The competition nowadays is fierce and it’ll take time to establish a client base as a beginner.
And besides that, you also need to find out where the best places are to find and acquire the most sought-after shoes. Places where your competition is likely already very familiar.
Therefore, you need to immerse yourself in the sneakerhead culture and apply yourself 100% to have a fighting chance.
Sneaker collecting has never been more popular. So while there may be more competition there’s also means more opportunity, especially if you niche down.
We’ve already discussed the sneaker industry in general above. Now, it’s time to dive into the actual process of reselling shoes and sneakers.
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Best Places To Buy And Sell Shoes
Creating an account on a consignment shop like StockX by Josh Luber is a good start. It serves as a middlemen between buyer and seller. Sneakerheads can bid or ask for shoes for resale. Therefore, you can buy and sell directly through the website.
When selling you simply send the sneakers into StockX when youve chosen the highest bid, and they will take care of the rest for a seller fee.
Sites like StockX are convenient ways to sell your shoes and insures buyers that they wont be duped by fake sneakers.
On the flip side, you dont get the personal touch from consignment stores that go with seller-to-buyer transactions. However, if youre not much of a salesman or a people person, then this perfect.
If you want the traditional way of reselling shoes, you can always go the way of Facebook marketplace or Facebook Groups, Craigslist, and eBay. These all allow you to put your personal touch on your sales process.
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 youre a new seller, itll take time before buyers warm up to you. Therefore, you need to keep working on gaining the trust of buyers and continue marching forward.
Reselling Shoes: How I Make $10000 A Month Flipping Sneakers
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This contribution comes from JV Ortiz, who found side hustle success in the world of buying and selling sneakers. Hes been at this business for two years and actually quit his job to pursue this venture full-time.
JV lives in Brooklyn, New York and when hes not out hunting for shoe deals you can find him running, surfing, and working on self development.
At his site, SixFigureSneakerhead.com, hes written a 100-page guide on how to break into the sneaker flipping game. You can use code SIDEHUSTLENATION to take 40% off.
Take it away, JV!
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Level Up & Enjoy The Benefits
Whether youre reselling a new purchase, growing a business, or creating a side-hustle, weve developed an intelligent, global marketplace that works for anyone, anywhere.
Note: All sellers also have a 3% payment processing rate in addition to the StockX transaction rate.
Your seller level is determined by your sales activity on StockX. Activity resets at the end of each calendar quarter. You must continue selling in order to maintain your Seller Level. For example, if you complete 20 sales in a given quarter, you will be in Seller Level 3 during the following quarter. However, if during that following quarter, you complete 0 sales, your Seller Level will revert back to Level 1 for the quarter after that.
You can level up at any point mid-quarter once you reach the sales requirements for the next level.
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Pick Your Selling Platform
The online platform you choose to sell your shoes will significantly impact your business. If you sell on an online marketplace like Amazon or Etsy, youll reach a large audience of potential customers.
However, youll also be competing with a lot of other sellers. If you sell through your own website, youll have more control over the customer experience and branding, but youll need to invest more in marketing to reach a wider audience.
Ultimately, the best-selling platform for your online store depends on your goals and preferences. Ask yourself:
- How much control do you want over the look and feel of your sales platform?
- And how much time are you willing to spend managing orders and shipping?
Once youve answered these questions, youll be ready to choose the right selling platform for your footwear market.
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Use A Platform Like Ox Street To Sell Your Sneakers
How it works
There are many different sites to resell your sneakers with the common ones like GOAT, StockX or even social media. But you can buy and sell sneakers easily on Ox Street as well. With a more targeted audience focused on the Asian market, we make reselling sneakers much easier and more accessible for sneaker resellers from the region. With an easy-to-use interface and making the process easier for both buyers and sellers by creating a trustworthy platform, Ox Street is easily one of the best apps to use for sneaker reselling especially for those based in Asia.
Sites like StockX can be used as a tool to help you in sneaker reselling by looking at the stats, previous sale resale prices, and current average resale prices of different types of sneakers. Its âmarket watchâ function also allows you to track the demand for the shoes, some of them even before they are released. Ox Street also allows you to easily see the prices listed by other sellers down to the different prices for different sizes as well to ensure you list the sneakers you wish to sell at a competitive price.
The buying and selling process