Buy And Sell Sneakers
I decided that, rather than dealing with speculating market forecasts (i.e. actually gambling), I should sell things that real people actually buy. And I was attracted to the idea of reselling as a hustle because there is no need to build a brand from the ground up.
buy and sell sneakers
Instead, you can piggyback on the popularity of existing brands. With this new strategy in mind, I headed for the clearance racks at local discount clothing stores and thrift shops, looking for brand name items that I could sell at a profit on eBay.
I started to develop an idea of what brands resold for, and realized that on eBay, brand new items were selling below retail prices, so to make a profit with my used inventory I would have to find a steep discount.
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.
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.
I saw that many pairs were selling for nearly $1000 with a lot of bidding action. After doing some research, I found that these shoes were available at retail at $350. Instantly I knew that I wanted to start selling shoes.
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.
When selling shoes, it can be easy to amass a bulky collection that you have to keep somewhere. To avoid that, I focus on brand new releases or shoes that are really hot classics I know will sell quickly.
Another flipping business that might be worth exploring is simply buying clearance items locally, and reselling them for a profit on Amazon. This is known as Amazon FBA clearance arbitrage or retail arbitrage.
I dabbled in reselling shoes earlier this year and made some decent side money doing so before I called it quits due to issues with reliability and scalability. After reading this I have a couple of notes to add that may be helpful to anyone considering this.
1. Using Bots to win sneakers can/will get you banned from a lot of the more reputable websites (Supreme, Adidas, etc.). In many cases they will ban your IP, your address, and/or even your payment information. This is against the ToS for most sites. Additionally, everyone in sneaker culture hates people who use bots.
2. Paypal also takes around a 3% cut of your sales revenue to include the shipping cost. So if you sell a shoe for $100 plus $15 shipping, or anything really, on eBay you will pay eBay 10% on the $100, 3% (approximately) on $115, and another finalized cost through eBay that fluctuates.
Hey JV could you please give me some info on how to acquire shoes in bulk for my resell business? I have good luck scoring 1-2 pairs of each hyped shoe at drop price but cant seem to get much more (if any) than that. I would love to get some advice from someone like you who obviously knows the market well and has quite a bit more experience than myself. Thanks for writing such a great article to read!
I really enjoyed this. I actually love sneakers. Growing up a basketball player, it came with the territory. I would spend hours in middle and high school looking at sneaker magazines. This is a fantastic side-hustle that can also be enjoyable. I know the industry is hotter than ever now. At least, it seems to be based on the fact that even ESPN does sneaker segments now.
Waasup man im trying to get into reselling shoes and need help on finding where to get shoes to resell and advice on how to go about it, the article was extremely informative and helpful. could you email me and give me more tips
Hey this is Tj, I have a couple questions about buying reselling shoes. I have a pretty good knowledge of shoes and which ones that has a higher resell value, for instance I just bought the off-white UNC 1s for $400.00 and I have a buyer that is wanting to pay over $1,000 for them. I am wanting to know about buying shoes in bulk and being able to make $5,000 a month or so buying and reselling shoes if you could email me at email@example.com that would be great! Thanks.
I am very interested in starting this type of business and would like to know if I may be sent any additional info like the commentors above. This would be with regards to buying a bit more sneakers in bulk and some of the places to get these kicks from. I appreciate the assistance in advance, thank you!
JVReal interesting stuff and congratulations on being way ahead of the game/ essentially becoming an owner of a highly successful company. I fully understand the amount of work and determination you have had to put in to make it, I personally would just love to make a small profit on the side because I am so passionate about sneakers. I would be so grateful for any tips on places to purchase if possible please. Thank you ahead if time and seriously impressive set up you created.
And thank you for sharing about your experience. So I have a few questions of my own but first i am extremely aware of the shoe resell market growing up my God Dad used to take me to the warehouse and get the shoes in bulk and you can possibly get the shoes at a wholesale price or even some at retail. But as i am older i am trying to jump back in it and i know you talked about sneaker conventions like Sneaker-con and their events. But what i want to know is when you go to like a Sneaker-con are you able to get the shoes for the retail price or is all the shoes already being sold for resell prices there. The only reason i am asking is because this is something i am very passionate about and you need money to even start in this business and now that i have it i am ready to take the chances and the risks. I have never been to a shoe convention but i follow them a lot and i know there is one coming up march 20,2021 in Cleveland, Ohio and i am thinking about going to that one and the one in October in Arizona. But like i asked are you able to get the shoes at retail price or are they all resell price at the shoe convention. And lastly do you know if there is a minimum amount of money you can bring if so would you be willing to please message me back about that. And sorry i just thought of another question i see a lot of people buy some shoes in bulk at these events is there a minimum amount you have to buy. Thank you so much for all the information on this page and please if you can whenever you can get back to me please!
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 sneakers and expensive shoes 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.
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 or searching for rare sneakers until you dive deep into the sneaker culture!
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.
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 (there are lots of marketplaces like Stadium Goods to help you find some gems). 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.
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.
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.
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?
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.
There's a chance you will see shoes way below market reseller price and sell them more than 10x you bought for them. Between the AIO Bot, checking the price on StockX and buying/flipping on eBay, you can get started right now.
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.
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 your account flagged. This is a headache, but it is one you can workaround. 041b061a72