Here’s an eye-popping statistic: The sneaker resale market has topped $1 billion in annual sales, according to StockX. It goes without saying — there’s a ton of money to be made in Yeezy reselling. Of course, sneakerheads know it all too well. Ultra-limited releases can easily fetch double or triple their Manufacturer’s Suggested Retail Price “MSRP” on Yeezy reselling sites.
These days, plenty of budding entrepreneurs have joined in on the sneaker game, hoping to earn a living or build a business selling deadstock sneakers. You’ve heard the success stories – like The Sneaker Don, a 16-year-old who counts celebrities and athletes as clients and generates more than $1 million in annual sales.
But what’s not readily apparent is how sneaker entrepreneurs get started, build a business and make real money selling sneakers. Remember: This is a collectible market. And like a collectible market: Prices are volatile, hype chances in an instant, and if you don’t have an eye for what the market wants, you could be sitting on unwanted stock for ages.
So how do you do it? If you have the capital, understand how the sneaker game works, and have the drive to stay plugged into the latest sneaker news, you too can build a Yeezy reselling empire. But you have to play the game right. Here is your step-by-step guide to making money selling sneakers.
Step 1: Watch the Market Like a Hawk
Successful sneaker resellers rely on foresight. You must develop an eye for what will be in demand, and what sneakerheads will want to buy. How can you do that? Choose to specialize. Some buy and sell Yeezys, for example. This enables the seller to develop in-depth knowledge of the Yeezy brand, better predict which releases will be in more demand, and develop a reputation among Yeezy buyers. So get plugged in. Follow sneaker Twitter accounts for the latest news. Read up on the latest trends and price reports on StockX. Subscribe to sneaker blogs. You must be an expert to win in the sneaker game.
Step 2: Cop Limited-Run Sneakers
As a sneaker reseller, you need INVENTORY. That’s no easy task. But basically, unless you want to camp out in line at a brick-and-mortar store, you have two methods: Manually or with a sneaker bot. If you’re buying manually, you have to be fast. Follow early link Twitter accounts. Utilize an autofill system. Memorize the layout of the website. When releases drop online, you’ll be competing against hundreds of thousands of other buyers – you have to be fast. With a sneaker bot, most of the manual tasks are taken for you. Sneaker bots will auto fill cart, and if you’re hoping to cop multiple pairs in a range of sizes, a sneaker bot can be your best friend.
- Choose the Right Size: You want a range of sizes. Globally, the most popular men’s size is 10.5, but the entire range of sizes 9-12 sells well. You might have to settle for niche sizes – say 14s – which will limit the upside of your investment.
- Use Proxies: Proxy servers make your bot connection faster. If you’re using a sneaker bot, a proxy can shave valuable seconds off your copping time. A proxy can help too if you’re buying manually.
Step 3: Take Good Pictures
High-quality pictures can make-or-break your Yeezy reselling listings. First, it adds legitimacy to your business. Blurry – or even no pictures – makes your listing look more like a scam. But you don’t need to go overboard. Most smartphones are capable of taking pictures that can sell your sneakers. What should you include? You’ll definitely want a profile shot of the sneaker, a picture of sole and a picture of the tag. Another way to add legitimacy: Take a picture with a handwritten note in the picture; this will prove that you actually have the sneakers in your possession.
Step 4: Name Your Price
Pricing resale sneakers are all about strategy. Some sellers choose to follow the philosophy: It’s easier to make a quick nickel than a slow dollar. In other words, they don’t wait for prices to appreciate, instead choosing to list right away. You don’t want to make your asking prices too steep and ultimately sit on sneakers until the hype dies down. StockX is a great resource for gauging sneaker resale prices. The site labels itself the stock market of the sneaker market. You’ll find average sales prices from around the web, see what premium people are paying and be able to gauge when prices are on the rise.
Step 5: Choose a Selling Platform
In the past, when it came to sneaker sales, you had one option: eBay. eBay still exists today, and it’s an option you might choose. But today, there are numerous avenues you can take for selling your shoes. You can choose a consignment shop like Flight Club, a NY and LA-based shop. Basically, you send Flight Club your shoes, they authenticate and list them online, and when they sell, they cut you a check. Sellers work with these consignment shops to set prices. Other options include bid-ask and auction sites like StockX, an eBay-like site that allows fixed-price or auction sales. With StockX, you set a price, buyers accept your asking price, and then you ship your shoes to StockX for authentication. StockX offers the benefit of anonymity. Check our best 9 places where to sell your Yeezy.
Step 6: Create Your Listing
If you’ll be using eBay, StockX or Kikify: It’s all about the listing. First, upload those premium pictures you took. Add all relevant information: Size, brand, colorway details, and offer any other pertinent information. Another important aspect: Choose a fixed-price or auction sale. With a fixed price sale, you set an asking price; buyers can’t offer below that price. With an auction, your shoes will go to the highest bidder.
- Set Reserve Prices: Some auction sites let you choose the rock-bottom price you’d be willing to take for your auction.
- More Pictures Are Better: Buying sneakers online can be nerve-wrecking. Put people at ease by offering as many questions as possible.
Start Building Your Sneaker Business Today
The Yeezy reselling market has been around as long as sneaker culture itself. And it’s here to stay. There will always be demand, and that’s good for business people. If you want to launch a Yeezy reselling business, know that it’s not easy. You have to invest a lot of time and capital into the endeavor, and you’ll eventually get burned on a release that just doesn’t have the hype you’d expected. Even so, if you have patience and drive, there’s a lot of money to make buying and selling Yeezys, Air Jordans, and other limited-run sneakers.
Stay tuned to our blog for more details about confirmed releases, tips for copping upcoming Yeezy releases and other sneaker news.
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