The journey to over $10,000 per month reselling sneakers

The paypal account pictured above is what one good month of successful sneaker reselling can look like.

At a net of about 30%, this is nearly a $4,000 profit.

Not bad huh?

A month like this came after many mistakes, and the following months came with a few setbacks including penalties from Paypal, which cost me thousands in lost potential income.

There are a few steps to take to reach a five figure month in selling sneakers or anything else for that matter. I prefer reselling sneakers because they are a high ticket item whose market is established and liquid, flowing at all hours of the day.

Step 1:
Have at least $1,000 to invest initially.

How do you get this initial G? Well there are a couple different ways you can do this. Obviously you need to save money. If you don’t have a job, get a job. If you have a job and you don’t save money, start to automatically set aside a certain amount of money every paycheck to a separate bank account that you don’t touch. You can talk to your employer about setting this up through a direct deposit that goes to 2 different bank accounts. If you don’t see it you don’t spend it. Something like 20% of your paycheck is a good goal. Depending on how much money you make, you may be able to save up $1,000 on your own fairly quickly. If you don’t earn enough to save $1,000 in less than a couple months or so, or if you just have bad spending habits that you can’t fix, save $200 to start (and cut that stupid spending!)

How to save $1000 if you don’t make a lot of money

With an automatic bank transfer, you can save $200 in about a month, enough to buy your first pair of shoes to flip. Flip this pair of shoes, then record the profit. Tell someone you know who has some money that trusts you, maybe an older friend or even a parent, and explain to them the sneaker market and how if they invest in you they can get some sort of return back. I did this initially to help build my bank up. Work out the terms in a way so that they make money, even if you break even, so you can build trust. Having the initial purchasing power is important and is something that can’t be ignored when selling sneakers.

The Penny Hoarder is an excellent resource on this topic. You absolutely need working capital and $1,000 is the bare minimum if you want to be a serious sneaker reseller, especially if you want to be the plug. You need money to play the game.

Step 2: Be a professional

Your reputation is key. It’s not worth burning a customer once and ruining your reputation forever. EBay especially can make or break you. Your reputation as a seller on eBay is totally transparent to buyers. The more positive reviews that you gather, the more your buyer is likely to purchase an expensive pair of shoes off of you because they can trust that you sell authentic shoes even when dealing in high dollar amounts, which brings us to the last and one of the most important points if you’d like to make money. A 100% feedback is almost always a make or break for a buyer of expensive shoes like Yeezys. Sell as many shoes as possible and build an impeccable track record. Reputation takes time to build, so don’t rush it. You won’t be a veteran a couple months in, but if you have a good track record with a high volume of high ticket kicks, big money buyers will trust you enough to part with their money and give it to you.

Step 3: Sell exclusively expensive models

Have you ever wanted to make more money with less work? Well you can, if you start to sell more expensive sneakers. 20% on $1,000 is worth $200 vs 20% on $100 which is $20, it’s simple math, you make more money moving heavier weight. Of course, other than the risk of a higher initial capital invested, there are more associated risks with dealing in more expensive goods. One is the issue of fakes.  The other is simply knowing how and where to get them at retail. You can buy a pair of Yeezy’s for $220 and flip them for up to $2000. This is serious money. If you are serious about these topics and hoping to learn more tips, including how to effectively network with such high end buyers that will drive your revenue, keep reading and learning every day. Advanced tactics are discussed in the post How to Use Sneaker Bots to Buy Yeezys and Jordans. Don’t pass up on this read, it’s too valuable not to, and a lot of people in the community don’t want to share this information but I don’t mind. I think competition is wonderful and keeps people on edge!

Step 4: Set and achieve goals

You can never achieve what you don’t envision. The first step to selling five figures worth of sneakers in a month is knowing that you’re the kind of person that can do such a thing. Selling sneakers is something that is not biased towards how old you are, what gender you are, if you’re fat or if you’re skinny, good looking or ugly, even rich or poor. Anyone can do it. There are 15 year olds in the sneaker reselling world making more money than people 10 years older than them. I came in the game as an absolute outsider and reached high levels. I simply believed that I could be someone who could do such a thing. So have confidence in yourself. But of course the confidence has to be based on something so it’s not delusional. It needs to be based on extensive knowledge.

I promise that if you follow these steps above, you will be well on your way to becoming your very own Six Figure Sneakerhead. Of course, there are a lot more details to fill in on the way there, but do extensive research, check out the beginner’s resale field guide, and most importantly, TAKE ACTION.

Just like playing a sport, you can watch all the football you want and you can definitely learn some techniques while doing so, but you’ll never become good at football if you never actually play it. The only way you get good at anything, whether it be football or surfing, business or selling sneakers, is by going out and doing it.

Well that’s it for today.

I wish you guys all the best!

-JVG

 

How To Resell Sneakers in 2017

Although reselling sneakers is still a $1 billion market and growing, it is getting more and more competitive to resell sneakers in 2017.

With so many new models releasing, including the most Yeezy’s to release in history in a year, it is hard knowing which models are worth reselling. A lot of newbies are also coming on and saturating the market with their offers. Fakes also are becoming significantly better and more convincing, giving fear to some buyers.

As a new sneaker reseller, you should not ignore this information. Yes, this isn’t 2014 anymore, where every Jordan that dropped was worth a $100 profit each weekend, and where $20,000 Yeezy’s were flowing hot through the market. Fortunately, with the correct knowledge, one can still profitably resell sneakers in 2017 and onwards. Before you go and pull the trigger on a release, you need to put in the necessary research to know if you’re buying a winner or not. A lot of people jump into the resale game and get way too excited and impatient and they go out and buy the first pair of kicks that they see, then they try and sell them and either lose money or are unable to sell them. It’s because they’re buying the wrong kicks. You need to buy what people want so that you know that it will sell. Always put your money in sure bets, even when there is risk involved.

That said, here are a few tips on how to know which kicks are worth flipping this year:

1. Check the ratings on sneaker news websites

  • Websites like Kicks on Fire and Sneakernews have ratings out of 5 or 10. Kicks with high ratings are likely to have resale value. Also, check the comments sections of such websites and see what kind of stuff people are saying. Be on the lookout for fire emojis, people drooling over the kicks, and speaking in a tone of desperate envy and desire. Some people even comment that they are expecting to pay resale price (a usually significant markup over retail) for the shoes. All of these are good signs that you’ll be buying something that will sell for a good price.
  • You can also look at hot sneaker or fashion Instagram accounts and judge by the likes and comments of an upcoming release whether or not a model is worth buying to flip.

2. Go on eBay to research preorders

  • Simply search the model that you’re thinking about buying, name + “preorder”, and you will see listings. Gauge the amount of listings, if it’s more than 10 or so, that’s a good sign. If the prices are all pretty much the same and more than $50 over retail, it’s worth buying the shoes.
  • Expert tip: you can toggle the filters on eBay to show which listings have actually sold.
ebay sold completed listing tool

How to use eBay sold/completed listing tool

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3. Immerse yourself in the community and network!

  • Talk to people . You’ll start to get an idea of hot shoes. You can also become a personal hookup for someone that needs shoes and know for sure that it’s worth buying a pair to resell because you have a guaranteed customer.

Let’s take a moment a follow these steps to find a good preorder that you can flip today.

Since I have been selling sneakers for a while, I have a decent idea of what shoes are hot or not. Asking around in the community, I had heard a lot of talk about the Jordan 1 Quai 54 sneakers releasing on July 8.

Let’s have a look at the rating from sneakernews.com:
4.27 out of 5 is pretty hot, so that’s a good sign. But a high rating doesn’t always mean resale value.

I like reselling Air Jordan 1’s because they have a low retail price for Jordans, so there is typically a higher margin.

Ok, let’s check the resale value on eBay, by typing in the model name + preorder, which in this case is Air Jordan 1 High Quai 54:

Cool! It looks like the average resale price is over $300, and that there are plenty of listings and bidding action on pairs before the release day. I’m writing this Wednesday, July 5, three days before the Saturday release day. Doing preorder research around the middle of the same week of the sneaker release weekend will give you a good idea of whether or not it is worth it to try to secure a certain pair of shoes.

Now we see how getting 1 pair of shoes can easily secure one over $100 in profit! Do this every weekend and it can pull you in an extra $400-500 per month part time, enough to cover a car payment or a student loan. Imagine being able to get multiple of these shoes, and doing it every weekend. Advanced strategies like this are discussed in the reseller’s field guide, where you can learn to become a sneaker flipping master. You can use these tools to resell sneakers in 2017 and beyond! Tools and resources are only getting better and with enough consistency and effort, one can scale business to higher and higher levels! (for more inspiration: Check out the post The Journey to over $10,000 per month reselling sneakers)

Well that’s it guys, and as always, good luck and I wish you all the best!

Take care,

JVG