What started out as a niche market for collectors and obsessives has blossomed into a booming billion-dollar industry that literally spans the globe. Sneaker reselling is big business! And it’s not going away anytime soon.
If you’ve been thinking about flipping kicks for cash, we’ve got some tips from the pros on how to get the maximum value possible for selling your sneaks. Here’s what you need to know.1. Do Your Homework
Becoming a sneakerhead means you gotta know your shoes. Learn everything you can about the community before you jump in and start reselling.
Follow top resellers on Insta, join FB groups, hangout on Reddit. Learn the brands, know every major designer and silhouette. Basically immerse yourself in sneaker culture so you know what the hell you’re talking about, otherwise people won’t take you seriously.
So many people who are new to reselling don’t pay tribute to the history and the classics. Trust us, knowing the OGs will give you a real edge and allow you to rise more quickly in the resale marketplace.
“After spending hours of research and using the little money that I had saved, I bought my first pair of shoes to resell. It was the quickest and easiest money I had ever made. I had finally found a product that met all of my criteria: high ticket items with good margins that sold quickly. Sneakers checked those boxes very nicely.” - JV Ortiz, SixFigureSneakerhead.com -
Don’t start copping sneakers until you’ve got a plan. Are you angling to be a collector or a reseller? What brand(s) do you want to focus on? And, most importantly, how are you going to get your hands on them?
If you really want to stand a chance in the game, you gotta have sneaker friends. Your community can point you to early access links, leaks, hacks, and even backdoored pairs.
In other words, don’t be lazy. Do your homework! It’ll pay off in the end.2. Have The Tools and Capital To Cop
Regardless of your ultimate endgame, you need to have capital to start with. Copping sneakers will cost you money, there’s no way around it. Be sure you start out with enough cash to buy at least a couple of pairs.
Then you got to figure out how to score those highly-coveted releases with the highest potential resale value. Getting your hands on heat can be tricky, especially when you’re just starting out.
Be sure you know when and where your coveted sneaks are dropping so you can be there early to buy. Most retailers, whether brick-and-mortar or online, now sell the limited-edition kicks through a raffle system. Be sure your name (and the names of some helpful friends) are in the running.
If you don’t like the roll of the dice approach, you can try and stack the odds in your favor by investing in a slightly controversial, albeit helpful, sneaker bot. They’re out there for a price, all it takes is a quick Google search to find them.3. Stay On Top Of New Releases
This could be the most important tip of all. It’s absolutely critical you stay on top of release dates and do your research before any sneaker drop.
You need to know what’s coming when, and how you plan to get your hands on a pair when they do.
Lucky for you there are TONS of sneaker release apps, Facebook groups, YouTube channels and more to help you stay one step ahead of the game.
Be sure to keep an eye on all the comments as well. Whatever the sneakerhead community is buzzing about will give you great insight into what silhouettes, colorways, and collabs you should be buying for resale.
Before you buy a sneaker to resell, you need to make sure it’ll have value on the secondary market. Lots of shoes fetch less than retail when you actually go to resell them, which can leave you feeling pretty burned. But a select few will let you double, or even triple your investment.
What determines the resale price of a shoe? Two factors: Rarity and Hype.
And any kicks worth investing in must possess both these qualities to really be worth something. One alone isn’t enough.
If a shoe is hyped but not rare, anyone can get their hands on a pair so you won’t make much money when you resell. If a shoe is rare but not hyped, they may be hard to find, but who cares? They won’t be worth more than the original retail price anyways.
It’s only when a pair of sneakers is both rare and hyped that you’ve found the sweet spot.
To get the most money for your shoes it’s best to keep them ‘deadstock’, meaning they haven’t been tried on, re-laced or tampered with since leaving the factory. And this should go without saying, but be sure to keep them in their original box.
You should also regularly monitor the current value of sneaker brands in online marketplaces such as StockX or eBay. When you go to price your sneakers in a live marketplace, you don’t want to be ‘that guy’ who messes up the resale game by over or underpricing their kicks.5. Choose The Best Resale Site
Now that you know what and why you want to buy, it’s time to flip! Where you resell your sneakers will have a huge impact on how much cash actually goes into your pocket.
Big-time flippers with large followings often use Instagram, eBay, or Facebook groups to sell stock directly to their peeps. But if you don’t have a solid rep yet, this probably isn’t the place for you.
Resale apps like GOAT or StockX are usually where people start out in the sneaker reselling game. The only trouble is, sites like these charge fees and commissions that can take a huge bite out of your profits.
Now there’s a third choice. A brand new way to sell sneakers online.
One where you get to keep 100% of the sale, everytime. No more commissions, no more fees. We’re talking about MyMarkit.
MyMarkit charges a membership fee based on the number of transactions you do each month. Once you’re a member, you can sell your kicks without loss. Every dollar earned goes right back into your bank account.
Or maybe you spy a pair of sneakers you’ve been searching for in our marketplace and decide to add them to your collection . That’s okay too. With MyMarkit, you get around markups by trading value for value. So you can shop for the first time, without loss.
Your Markit, Our Markit, MyMarkit.