This is it! After watching multiple videos in Youtube, you’ve finally made the decision to generate some extra cash by reselling shoes.You’ve made the commitment, and have some cash to invest in shoes. However, then you realize that you have no idea how to resell sneakers. Which shoes should you buy to make a profit?
In this blog post we will discuss techniques I’ve used, and helped me generate thousands of dollars in profit. We will cover these techniques with a real life example.
By the time we cover this article, you will know the required steps to follow each time you want to invest in shoes for resell.
The good news is that you can use the various free sneaker apps available to do your research.
The concept of flipping sneakers via the GOAT app, or Ebay is relatively simple. You buy a pair of new jordans for a price, and then try to sell them at a higher price for profit on one of the many sneaker sites available today. This same practice applies for different products people sell on Ebay or Amazon FBA.
Retail arbitrage works in your favor only if you know which products to get, and at which price you should buy. This same idea applies when you are trying to resell shoes online. Many people struggle with flipping sneakers because they don’t know which shoes to invest in.
How to resell sneakers requires a certain set of skills and behaviors we will be discussing later in this article. Of course you can make money by buying limited jordans at retail price, and selling them at a profit in the resell market.
Sounds easy right? In reality getting limited sneakers has become even more difficult. Rare nike shoes or adidas are now being released in raffles, and the chances of you getting a pair of kicks every time is almost impossible. Unless you have an army of bots, chances are that you rarely get a pair of hyped sneakers during release.
The techniques that I will share with you in this article will help you identify bad investments, and profit-making sneakers.
It Comes Down To This…
In my experience, how to resell sneakers has become a similar exercise to investing in the stock market, and it all comes down to research. You need to understand the demand for the shoe, the cost people are willing to buy, and what is a reasonable cost of acquisition for the kicks you are investing in.
By understanding these principles, you can take cheap sneakers and make generous returns of more than 10% .
Will you beat Benjamin Kicks’ net worth? Not so fast…lets get down to the basics, and maybe after a few years you might start making a couple of thousands of dollars in profit a month.
Lets take a look at some legit sneaker websites you can leverage today to identify which retro sneakers to sell. How to resell sneakers comes down to how you analyze this information, and apply it to those retro sneakers you just found in the clearance section.
Lets use our phones and figure this out together. Let’s start with Ebay, and follow a real life example.
Not one of the best sneaker websites, however, you can’t operate in this business without having a presence in Ebay. Selling sneakers in Ebay is a must, and the information you can find here is quite useful.
Lets pretend you found air jordans for sale at the Nike store. How do you check the demand for the shoe, and what people are willing to pay?
For this exercise, lets use a shoe I’m currently selling: Air Jordan 2 Retro Decon with the Sail/Beige color way.
However, I wouldn’t recommend you search by name. I usually search by using the shoe’s SKU which you can find in the front of the box:
Once you locate the SKU, plug it in the search board and lets see the results.
As you can see there are many listings with a wide range of price points, and conditions. The next steps you need to take here is to hit the ‘Filter’ option on the side, and then activate the ‘Sold Items’.
Now you can actually see the results of all air jordan 2 sales that have taken place in Ebay. Lets take a look at the sales price, and the frequency.
So far we can see that there is a high frequency in the number of sales for this air jordan. In this example we can see sales almost every other day.
The sales price doesn’t fluctuate that significantly. Sales stay consistent in the $59.73 to $70 price range. There are outliers in some of the sales:
However, I wouldn’t count on being able to resell these shoes at this high price. I would actually target to flip these shoes at the $65 range.
The key on how to resell this sneaker would be by buying it at a very low price.
Anything above $30-$35 would not be worth it if you want to make at least at 20% profit after fees and shipping.
Make sure to apply these research techniques every time you go and buy sneakers to exponentially increase your profits flipping shoes. These techniques I’ve learned along the way, and hope they can help you find the best shoes for sale.
Also keep in mind what are the best sneaker apps you can go to to sell your shoes. If you are able to sell through the GOAT app that will for sure help you achieve success. However, do not discount Ebay and Stock as being important contributors to increasing sneaker sales.
Now that you understand how to resell sneakers, and how to read sale history, you are probably wondering: Now what?
If you are wondering what to do next, and what additional pieces of information to consider, I discuss it on detail here. Here is a quick summary of important things to know when reselling sneakers:
These are the 3 things that you need to follow to become a profitable sneaker reseller:
Educate Yourself On the Sneaker Market first, Then Buy Merchandise:
Understand which shoes give you the best resell profit. This will help you save time, and money. Familiarize yourself with selling platforms such as StockX and GOAT. Also, make sure to understand the sneaker market, and make sure you know what are people buying today. This TED talk on youtube from StockX founder helped me understand how big the Sneaker Market is, and encouraged me to learn how to resell sneakers.
Understand Demand Sneakers That You Are Looking to Sell
Evaluate sales history, and price paid by buyers on the shoes you are looking to invest on. This includes reviewing social media to understand what potential buyers are saying about upcoming sneaker releases.
Define Your Desired Profit Margin, And Stick To it. Do Not Sell Your Self Short To Make A Profit
If you have a good sneaker for resell, do not resell for a quick price. This will only make you work harder to make a significant profit. Make sure to ask yourself:
“Are You The Winner or The Loser In The Transaction?” This question will help you think of pros and cons to understand if the trade makes sense.
Remember, how to resell sneakers is an art. It requires research, patience and knowing when to pull the trigger on that sell.
Flipping sneakers will generate you thousands of dollars if you follow these principles, and apply the techniques we’ve covered today.
I’ve prepared a free guide with more tips and sources of information to equip yourself to succeed in the sneaker resell market. Once you subscribe to my mailing list you will get a copy in your e-mail.
With your e-mail I will make sure to notify you of new content, product reviews, and passive income strategies to make you more money. How to resell sneakers has just become much easier! Right? If no, let me know how else I can help out.