3 Ways How to Make the Most Money When Reselling Shoes
Reselling shoes is an incredible opportunity, but there are certain rules you need to follow to make the most of it. Check out these 3 insider tips on how to make the most money when reselling sneakers.
Reselling shoes can be an incredible opportunity, but in order to move ahead and make more money, you need to follow certain steps if you want to have success and avoid common issues that plague new resellers.
Here we will go over a 3 of the best ways that top six figure shoe resellers use to make top dollar when dealing with rare shoes.
We’ll teach you how to get top dollar and to get the best prices for your shoes on the resale market so you can make the most money across all platforms.
•move your shoes quickly
•use the best resale platforms
•sell the hottest stuff.
Keep reading to see each of these 3 expert tips explained in depth!
1. Avoid price drops by selling quickly
You can earn significantly more money if you move your merchandise quickly at top dollar.
However, in order to do this, you need to act quickly and know what you’re doing.
Let’s explain this concept a bit more:
Just because a shoe’s peak resale price is $500, you may only get buyers giving you $400 for a pair, meaning that you miss out on $100.
Add that up over the course of the year, and that can mean thousands of dollars lost.
This drop happens because of hype and interest surrounding a release that peaks during its release date.
Many times, shoes will drop in price the week or even the days following the release.
Although you will still be able to make money from limited release shoes any time you choose to flip them, your profits will not be as high as listed in articles like this which include the best streetwear reseller opportunities in one $14,000 month.
Profits stated in the article above on selling streetwear are real, but the people making this kind of money are top sellers who are experts in the shoe reselling community.
Becoming a sneaker plug might seem impossible, but with enough time, research, dedication and hustle, you can certainly become a self made shoe reseller making up part of the billion dollar sneaker pie.
On the flip side of this tip that’s almost always correct, sometimes waiting to sell the shoes will gain you much more money than if you sell them right away.
This experts-only strategy can make you plenty more money, but it’s for those who thoroughly understand the history of sneakers so they know which shoes to hold onto that will go up in value over time.
As a rule of thumb though, especially as a beginner, sell shoes quickly and reinvest.
Education is key in this game, and you have to price perfectly as the market demands.
Pay attention to which releases are worth buying every month. We post complete lists every month, here’s one for May 2019.
It takes a bit of experience to learn how to price: not so high that your inventory sits, but not so low that you sell too quickly and ruin the resale market price for everyone. But once you do this, you’ll see your bank account grow.
2. Tools and resources: Sell on multiple platforms like eBay, GOAT, StockX, even Craigslist
Make use of the plenty of tools and resources out there for people who want to get top dollar for their rare sneakers. Aside from sneaker bots, which can be a bit tricky (we do our best to explain them here), platforms are abundant in creating six figure resellers.
The highest earning sneaker resellers are savvy about all of the different platforms that people use to sell their kicks, and understand all of the pros and cons (check out our post on advanced eBay, GOAT and StockX strategies here).
2 of the best platforms of all time to use for flipping shoes are StockX and eBay.
Take plenty of time browsing different categories and models of shoes on StockX.com, and you’ll see some shoes with a historic rise in prices.
By noticing patterns, you’ll become an expert at pricing shoes, which will earn you extra money.
The Yeezy 350 Turtle Dove from 2016 is a good example of a shoe that has risen in value over time, one of the first pairs of Yeezys I started selling multiple pairs of that really got me into the game as I started seeing success.
eBay is a great place to sell quickly for a higher profit. Even though the platform is littered with fakes, it still has a base of loyal customers who take advantage of things like eBay bucks and buyer protection that no other reselling sites have.
But you can’t just throw some shoes on eBay and hope they sell.
Not everyone who is selling shoes on eBay is making money, only those who know what they’re doing.
Having an eBay account with good reputation is absolutely critical to being found first and thus selling quickly when listing shoes, the hypemaster playbook goes through advanced strategies and much more like this.
Online platforms are great because you can get a lot of traffic and fresh buyers so you can almost be sure your shoes will sell on these websites as long as you appropriately price them.
Also consider doing some old fashioned wheeling and dealing for some straight cash.
You can do this by selling your shoes in person.
Selling locally on Craigslist and in person will help you avoid platform fees and shipping so you can sell for less money and still pocket more profit.
You’ll have to have hypemaster lingo, knowledge, and a growing network to take full advantage of this strategy, but once you do, it’s totally worth it.
3. Sell the hottest sizes
From my past experience, size 8 US and size 12 US are the 2 absolute best sizes to sell with the highest demand, the quickest sales, and often higher prices than other more common sizes like 9 and 10.
Also, gain regular customers who will request something in their size, and make sure you get at least one pair in their size so you can fulfill their need, and often they will pay you more than normal to secure the shoes for them when you become their personal shopper that they trust.
Sometimes though, it’s good practice to see what shoes are currently selling on eBay, and then filling the gap with a size that’s not currently available.
Advanced tools and strategies like this are discussed in depth in our exclusive Hypemaster Playbook.
Of course, this takes the ability to secure multiple sizes which only hypemasters who know the best manual techniques along with the use of sneaker bots can do.
Employ these 3 strategies above, and this can make difference between making $500 a month and $5,000 per month with sneakers, the difference between a full and part time living.
Selling shoes is an incredibly fun way to make a living and to stay up with current fashion trends, whether it’s your intention to rock the kicks or not is up to you, but making money is a duty that everyone should take part in and if that’s your only intention, then more power to you ????.