How to Resell Sneakers: The Ultimate Guide
Sneakers aren’t just for sneakerheads anymore. Whereas 10 or 15 years ago you would need encyclopedic knowledge to progress through the collector game, today it’s easier than ever to get your hands on high-demand kicks that sell for even higher prices. Which is why it’s no surprise that the resale of sneakers, once a niche market for workout obsessives, has become a cottage industry in its own right.
The rise of market apps like StockX and GOAT, along with the proliferation of social media sites where you’re just a DM away from turning a rare pair of sneakers into cash, means more people are selling their shoes. than ever before. The global sneaker resale market has been valued at over $1 billion, while the right pair of kicks can cost £5,000 (or more) in UK-based sneaker havens like Crepe City.
There is a big pile of money at your feet, but how do you take the first step to claim it? Don’t worry, we – along with some of the industry’s leading players – have you covered.
How do you start reselling sneakers?
Not with your trusty Chuck Taylors, unfortunately. Or even your Balenciaga Triple S. If you want to get a feel for the sneaker resale world, you need to be aware of the limited releases – that’s when the big sneaker companies only release a certain number of their latest and hottest sneakers (think the
Collectors know the biggest sneaker trends, join mailing lists, download apps and line up at sneaker stores. Those who manage to afford a pair will keep them to wear, sell them immediately, or keep them in mint condition, often with the intention of reselling them later when their value has increased exponentially.
People who immediately resell in-demand models will often do so for a 200-300% markup – they’ll buy them for £150-£200 and resell them for £400 or more. But there are also the stockists who hold on to — or, if they’re lucky, stumble upon — an older limited release (think ’90s Air Jordans in classic colorways, or the original
In this case, there are fewer unworn pairs, which means that the resale price only increases. Simple economy. These used shoes will sell for more than used cars.
If this all sounds absurd to you, here’s some good news: you don’t have to be a sneaker fanatic to succeed in the game. “Shoes are now considered a commodity,” says Crepe City founder Ron Raichura. “You have people who were ticket dealers to buy shoes, because the market is so big.”
And while going all out may earn you the ire of the sneakerhead community, a little research will definitely help you ingratiate yourself with the people you buy and sell to. “You have to do a little research. Know what you are buying and where you should sell it.
The StockX online marketplace is a good place to start – their “market watch” feature will allow you to track, like a stock exchange, which shoes are worth your precious time and money. “You can see the demand that already exists for these products ahead of their release,” says Derek Morrison, European director at StockX. “If people are buying pairs early for way beyond retail, it’s pretty obvious there’s going to be money to be made with this shoe.”
For the most savvy collectors, reselling sneakers is a career in itself – and it pays off well. “You can make a living reselling sneakers,” says Jasmin Miller, spokesperson for sneaker reselling app GOAT. “In 2017, our top sellers each sold over $2 million worth of sneakers. By the end of 2018, these same top sellers had each sold over $10 million worth of sneakers in total. There’s a huge market looking to buy sneakers, and it’s only growing.
Sneaker reselling tips from the pros
Now that Google has turned every thrift store seller into a sneaker enthusiast, you’re highly unlikely to find a pair of vintage Air Jordans at your local charity shop. This means that for the novice reseller, new releases are your best bet.
“Every two weeks there’s a pair of shoes that saves you between £30 and £50,” says Morrison. “Or you can buy several pairs, sit on them for a few months, and they’re probably worth even more.” If you want to win real money, however, you will have to put in the effort.
“There are at least a handful of shoes throughout the year that will immediately cost 5-10 times the shoe’s retail value, and many more that will go for a 3-5 times markup. These are usually the ones where you have to participate in raffles or camp out for the weekend. If you get your hands on it, it’s like winning a lottery ticket.
Sam Kersh, aka @sneakersocialite, is one of Instagram’s OG sneaker stockists, with over 150,000 followers. His advice is therefore worth listening to. “You can find rare sneakers in all sorts of ways: general releases, stockists, industry suppliers, and friend events,” he says. As for how he makes a living, it’s about using the tools you already have: “I mainly use Instagram, eBay and Facebook groups to sell stocks,” he says.
If your follower count is lacking, reselling apps like StockX and GOAT will make it easy to get your product out there (as long as it’s something people want to buy). “It’s about keeping an eye on the market and knowing what’s desirable,” says Morrison. “For example, I know there are shoes from nine years ago that Kaws made with
As for when to sell your most prized pairs, it might be worth holding on – limited releases from top sneaker brands tend to become more profitable with age, thanks to the scarcity of unworn pairs on the market. Because of this, you can even take the gamble and buy sneakers at their immediate resale value, with the goal of “flipping” them around again a year or so later.
“Sometimes the best deal is once they’ve already sold out,” says Morrison. “There are shoes from last year that are worth 150% more than their resale value on StockX the day after they are released.”
The best sneaker resale sites
The aesthetically pleasing online marketplace runs a tight ship, where all sneakers sold through the platform are authenticated through machine learning and human expertise. goat.com
GOAT rivals are distinguished by an analytical approach to the buying and selling game, with constantly updated market values and loss or gain on items. stockx.com
The loyal brand runs a heavily populated (and heavily regulated) Facebook group for buyers and sellers, as well as regular resale events – check online for the next event. crepe-city.co.uk/
The Community Market for men’s clothing enthusiasts isn’t all about sneakers, which means you can spend your hard-earned cash on second-hand items.
Another reliable marketplace app, put together by the footwear impresarios behind UK retailer The Sole Supplier. For beginners, that means they know a thing or two about trainers. thesoleexchange.co.uk
If all of the above seems like a bit too much effort, Kick Game will analyze and rate your shoes for you in exchange for 20% of the profit. kickgame.co.uk
The best shoes for sale right now
Nike Air MAG Back to the future
Anyone in the sneaker community will tell you these are the most coveted kicks. “Only 89 pairs were made,” says Miller. “That rarity and nostalgia comes at a higher price. One pair sold on GOAT for $45,000. Sold for: £20,000 to £40,000
Nike Dunk SB Paris
“They’re obscure,” Raichura says of the second most expensive shoes on our list. “There were only 202 pairs in existence, so it’s pretty much impossible to find a brand new pair in your size these days.” Sold for: £10,000 to £20,000
Adidas Human Race NMD Pharrell x Chanel
The collaboration was made exclusively for Colette, a Parisian boutique described by some as “the hippest boutique in the world.” “It closed about a year and a half ago,” says Morrison. Now the price makes a little more sense. Sold for: £6,000 to £10,000
Nike Yeezy Red October
Kanye’s latest collaboration with
Nike Jordan 1 Retro High Off White
“Anything Off-White and Virgil Abloh is a safe bet right now,” says Derek, designer of the day for everyone from Justin Bieber to A$AP Rocky. “Every pair he’s released in the past 12 months has absolutely blown out.” Selling price: £1,700-£2,000
Nike Jordan 1 Retro High Travis Scott
The biggest new shoe of 2019, the limited release started when Travis Scott performed at the Grammys and sold out instantly. “Resale value before release is already at £1,600, so if you’re able to cope with retail, you’ll make a serious profit,” says Kersh. Sold for: £1,600+
Nike aerial fear of god
One of Morrison’s current favourites: “You have people doing collabs on existing iconic silhouettes, but this one is interesting because
Nike Sean Wotherspoon Air Max 1/97
“The price seems to be increasing week by week,” Raichura says. “Last summer they were selling for £400, now they’re selling for over £800. I think it’s because everyone was expecting to have a re-release this month, which doesn’t happen. is not produced. Sold for: £600-£900
You Can Read Also :