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.
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!