Goat Can Store Your Inventory
Goat offers what they call Goat Storage.; This is where resellers can send their inventory for Goat to hold until they are sold.; This ensures that customers receive the sneakers faster while giving you more space for inventory.
Ideally, this should only be used once you have enough inventory and sales to warrant it.; You dont want Goat to be the exclusive platform where you sell your sneakers. Your goal should be to build your own brand so that you can sell directly through your own platform.
What Shoes To Buy
One of the most common questions I get is how do I know which shoes to buy? Which brands and models will be profitable?
To get an idea of what is hot in streetwear, follow sneaker and fashion publishers like Hypebeast or High Snobiety.
Immerse yourself in your local sneaker communities by attending a sneaker convention and getting an idea of what people are wearing and what people are talking about.
Learn about the Jordan brand. Begin to follow Instagram accounts that have to do with sneakers and sneaker news, so youll automatically be doing research every time youre killing time on the gram. Combine all of the above with checking aftermarket prices on sites like eBay and calculating your estimated profit.
Nicks Notes: In the advanced search, you can check the box just to see completed listings to see how much items are actually selling for.
I suggest starting small with one or two pairs so you dont have a huge risk.
When To Sell On Stockx Vs Goat
Now that we have talked about the pros and cons of selling on StockX, you should be able to conclude when to sell there.; A good time to sell on StockX is when you are looking to make quick lunch money or if you are willing to hold until the value increases more.; Every once in a while you may get lucky and score a hype sneaker that will quickly sell and provide a great profit margin.
- Takes longer to setup seller account
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Reselling Shoes: How I Make $10000 A Month Flipping Sneakers
This post may contain affiliate links. Please read my disclosure for more info.
This contribution comes from JV Ortiz, who found side hustle success in the world of buying and selling sneakers. Hes been at this business for two years and actually quit his job to pursue this venture full-time.
JV lives in Brooklyn, New York and when hes not out hunting for shoe deals you can find him running, surfing, and working on self development.
At his site, SixFigureSneakerhead.com, hes written a 100-page guide on how to break into the sneaker flipping game. You can use code;SIDEHUSTLENATION to take 40% off.;
Take it away, JV!
How Do You Manage Inventory
The short answer is I dont I try and sell each pair as quickly as I buy them!
When selling shoes, it can be easy to amass a bulky collection that you have to keep somewhere. To avoid that, I focus on brand new releases or shoes that are really hot classics I know will sell quickly.
This strategy translated into less headache and hassle storing and tracking the inventory, and also let me turn my cash over to reinvest in the next flip faster.
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Here Is How Fast Yeezys Sell Out
Its frustrating when you get excited to buy the new Yeezys that are coming out only to realize that they have already sold out.; I tried buying a pair myself on release day and was surprised how fast they sold out. I noticed this on a few Yeezy releases, so I wondered how fast do Yeezys sell out?
After failing to purchase Yeezys on release day I have learned that Yeezys will typically sell out online in under a minute after release.; However, this isnt always the case. There are a few determining factors when asking how fast Yeezys will sell out. Because not all Yeezys will sell out under a minute.
Where To Find Used Shoes
First, look in your own home! The average person has 12 pairs of shoes in their closet, most people have more. Once you find out how much your gently used shoes sell for on eBay, you will be motivated to list them! Next check thrift stores, garage sales, estate sales, consignment stores, and church rummage sales. Make sure to check the soles for excessive wear or holes.
Check the collar of the shoe, the part that goes around the ankle, for holes and wear. If selling shoes that a senior citizen would wear, make sure the sole is not worn down or slippery. You wouldn’t want your buyer to slip and fall and get hurt. To see the eBay market value of anything, follow these steps:
Remember to always check completed listings when doing price research on eBay. An active listing is not a good comp because anyone can ask whatever they want for an item, but that does not mean they will get the selling price. Sold listings show the history of sales, what actually buyers really paid.
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You Can Sell Used Sneakers
In my opinion, selling used sneakers is the best way of getting started with sneaker reselling.; It is just so much easier to get started than trying to cop hype releases. Dont get me wrong, there is definitely money to be made with selling hype sneakers.; However, when you sell used sneakers you dont have to fight so much competition or have to speculate much what the resale value is going to be.
There is Less Competition Selling Used Sneakers
Not only that, but there is a lot less competition with selling used sneakers.; A lot of resellers are not dependent upon income from their sneakers. Most of the hype sneaker resellers are teenagers or young adults looking to make some extra cash on the side.; However, if you are looking to become a full-time sneaker reseller, then selling used sneakers is where its at.
Its a Sellers Market
The used sneaker resale market is a sellers market.; There are a few reasons for this. One reason is that sellers have the power to set the going price.; This is in comparison to where customers drive the resale price like on StockX.
Selling Shoes And Sneakers On Ebay
Shoes are a resale;item many sellers overlook. They may think that no one would buy used shoes anywhere, much less online without even trying them on. Or, sellers may not be able to get past the ick factor of used shoes. Let’s face it, someone’s foot has been in that shoe, and they have walked in places that might have been unsanitary. Well, if this is your mindset, you may want to rethink your position on shoes. They are easy to find, easy to sell, very simple to ship, and can be quite profitable.;
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Whats The Best Way To Resell Your Sneakers A Definitive Guide
Big money can be made if you land the right sneaker or sell a ton of pairs. But whats the best way to flip your inventory?
There are many ways to resell your shoes. You can flip them hand-to-hand to people you know, drop them off at big consignment retailers such as Flight Club or Stadium Goods, list them on eBay, or sell them through websites such as StockX and apps like GOAT.
But you need to be mindful of a lot when youre reselling your shoes. What are the fees? How long will it take to sell the sneakers or get paid? How will you get paid? How much effort do you need to put in on your end? Will anyone save you if you get scammed?
To break it down, here is a roundup;of the most popular sites, stores, and ways to resell your shoes. We want you to be informed, so weve taken the who, what, where, when, and whys into consideration and presented it here so you can make up your own mind. Here are the pros and cons:
Where Do You Buy These Shoes To Resell
I like to buy older models either through eBay or Facebook groups and sneaker conventions.
For new shoes, youll go directly to the brands website and either press your luck right on the release time or you can utilize a sneaker bot to greatly increase your chances of securing a pair at retail price.
There are also authorized retailers that stock desired shoes, like FootLocker or Eastbay, but its best to go with lesser-known sites like Mr. Porter and END to increase your odds of getting the shoes at retail.
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There Is More Competition On Stockx
Earlier, I mentioned that the pro of selling on StockX is that you have a much bigger pool of customers.; However, with more sales bring more competition among other resellers. Subsequently, higher competition means smaller profit margins for everyone.
Typically after two days after a hype release, you will see the resell prices gradually or even sharply driven lower.; This is frustrating but it is an open market. That is what happens on the open market.
The Importance Of A Globally Local Perspective
Despite big-scale plans for growth, Goat intends to retain a curated perspective. When you think of other marketplaces, it’s a bit of everything. Discovery is difficult because there’s a ton of products. But we’re a marketplace that’s providing a very retail-like experience, Sugano says.
Investment will go into new authentication facilities in Japan, China and Singapore to better serve a growing consumer base in Asia and provide faster delivery. These growing markets will also be nurtured with curated content. We have a point of view, says Lu. We carefully merchandise products to tell stories. We create local content that inspires and host annual community-driven events that engage.
Goat built a team in Shanghai in 2019 to deliver content and design assets that resonate in China, Sugano says. We are using a similar playbook as we look at additional markets in Asia Pacific. really key to our strategy.
The companys biannual magazine, Greatest, features talent from across the world to inspire a diverse range of users to aspire to be their greatest. The concept reflects the investor/entrepreneur mindset that drives Gen Z to resale. Cover stars have included Fear of Gods Jerry Lorenzo and Chinese singer-rapper Lexie Liu.
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Can You Sell On Goat Without A Box
Payment process: Once the sneakers are verified, the money will be credited to your GOAT account, which you can use to buy sneakers or you can cash out. Once youre verified, you can sell new or used sneakers with or without a box. They also launched a program where they clean your sneakers for you.
Applying The 10x Rule
Thinking back again to the successful commodity traders, I recognized the obvious fact that the reason that these traders became millionaires is because they were trading in large quantities of money.
I had also been watching the TV show Million Dollar Listing at the time, where real estate agents made as much money selling one house as the average American would earn in a year. They did basically the same amount of work as the typical real estate agent but made ten times more simply because they were selling houses that were ten times more.
I was selling $50-$100 items and making about $10 per sale and $50 per week, so I thought, why dont I sell items that are priced at $500-$1000 and make $100 per sale and $500 per week?
A similar amount of work for 10x the results.
I had saved some money and was ready to start flipping more expensive items but wasnt really sure where to start, so I searched for higher ticket items to sell. I knew luxury items were expensive, so I researched high end designer items and expensive watches.
Through my research though, I found that it was nearly impossible to make money reselling name brand luxury items. In fact, they were almost universally selling for less on eBay than they were in the store, even when they were on clearance.
Every now and then, I would find a luxury item on deep clearance at the mall and see on eBay that I could make a profit, but that the margin would be too thin and the sale too slow to justify the upfront investment.
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Shoes Purchased Are Not Promised
Paid for a pair of sneakers that were confirmed by seller. Seller never sent the shoes after I received a confirmation that the shoes were on their way through UPS. Seller basically reneged on the deal and now the shoes cost way more and the Goat says they’ll refund me. Now they expect me to pay more on a new bid when I’m already paying a premium on the shoe, instead of them paying the difference on the new order after confirming that the original shoes were in transit. Why should I miss out after they confirmed the shoe was coming. If they had a better system I could’ve possibly bought the sneaker from another seller the same price or lower. I already have purchased other sneakers and want to buy more but this left a sour taste. Poor customer service because in a store if something you bought was damaged or misplaced you would get the same item at the price you bought it, might I add, a discount. I’ll edit this review if it turns out that they did the right thing and honor my initial purchase.
The Kind Of Shoes That Are The Best Sellers
Contrary to popular belief, the best;sellers are not the fancy high heel high fashion stilettos shown in magazines or on internet ads, or athletic shoes endorsed by the latest sports celebrity. The most consistent sellers are practical shoes. Also known as ugly shoes.;
Why? Because the largest generation of humans, Baby Boomers, are aging and either already have, or are starting to have foot problems. This has created a demand for comfort or orthotic shoes. More and more Boomers are diagnosed with Diabetes every day, which affects circulation and can cause neuropathy in feet, and this sometimes calls for special shoes.;
Furthermore, comfort and orthotic shoes are not cheap. Some sell for over $200 retail. Couple that with senior citizens on a fixed income and relying on Medicare , Boomers look to eBay to find what they need for comfort and function, rather than paying full retail.;Some of the most profitable brands to sell include:
- SAS Tripad Sandals
While resellers can flip virtually any shoe for a profit, the key to a successful shoe reselling business is knowing what brands, styles, and colors are trending. As the Baby Boomer generation continues to age and experience foot problems, comfort and orthotic shoes will grow in demand in the resale market.
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Wheres The Best Place To Resell Shoes
Ive done;most of my reselling on eBay, but it seems like apps like GOAT and StockX are picking up so Im selling on those more now as well.
Still, I love the feeling of doing in-person deals either through Craigslist, sneaker conventions, or Facebook/Twitter groups.
Obviously, selling in person requires extra precautions, but if you use common sense and deal with good people through networking, youll get the best prices from in person on the buying side because online sellers are paying for shipping and fees to the platform that theyre selling on.
The Middleman Feature Is Great For Security But What Makes The Website Like A Stock Market
For every item listed, StockX has tons of usable information like release date, retail price, how many units have sold, previous sale prices, and more. The data can help you as a buyer to better assess the market so you’ll never overpay. And if you’re savvy, you’ll learn to use data on previous releases to predict the value on future releases.
I personally have never paid more than retail for sneakers, so I like to use StockX to get certain shoes for below retail. If there’s a shoe that I want to buy and it’s been sitting on shelves at retailers but is still full price, StockX usually has a lower price. While retailers tend to wait a long time in order to mark down inventory by the bunch, StockX will have a price listed that’s closer to real-time market value.
Alternatively, the data works great as a seller. Let’s use the last pair of sneakers I sold, the Union Los Angeles x Air Jordan 1, as an example. I sold my pair for $803 12 days after the release, but the market value peaked at $1,520 five days before the shoe released to the public. Today, more than two months after the release, the lowest asking price is currently $609. You can use data trends like this to determine when is the best time to sell your item to maximize profit.
For consumers who are willing to pay resale prices, the data helps them get the best prices. At $609, that’s still a lot more than the $190 retail price, but it beats eBay where there are pairs currently listed for up to $1,900.
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