How Does The Goat System Work
On a GOAT marketplace, vendors such as individual resellers, shops, and boutiques advertise their products for sale while consumers browse the listings.
Sellers can advertise any shoe on the platform, but they must first send their resale items to GOAT for validation.
The product is mailed to the buyer after it has been validated. If the sneakers are discovered to be fraudulent or not as stated, GOAT will also not ship the item and issue a full refund to purchasers.
GOATs retail products have been pre-verified and are supplied directly through their authorized retailer and boutique suppliers.
Shoes labeled Instant Ship on GOATs marketplace have also been pre-verified and thus are ready to be dispatched from the GOAT facility to purchasers.
Is It Safe To Buy Used Shoes On Goat
Launched in 2015, GOAT is one of the most popular and trusted platforms for buying and selling sneakers today. In a Business insider report, GOAT is ranked as the worlds largest marketplace for high-end sneakers, valued at $250 million.
However, before you make your purchase, below are some of the frequently asked questions regarding this sneaker platform that you might need to know.
Does Goat Sell Fake Used Shoes
If Goat is indeed selling fake shoes, then it needs to stop doing so and refund the money to its customers who have been scammed.
According to a recent report, Goat, a popular online marketplace for used sneakers, has been selling fake shoes. The report, which was published by Business Insider, claims that Goat has been knowingly selling fake shoes to its customers, and that the company has been doing so for years.The report claims that Goat has been sourcing its fake shoes from a number of different places, including China.
Goat has allegedly been purchasing fake shoes from Chinese factories and then selling them to its customers as authentic used shoes. The report also claims that Goat has been selling shoes that it knows are fake to customers who are unaware of the scam.Goat has denied the allegations, claiming that it does not source its shoes from China or anywhere else.
The company has also claimed that it does not knowingly sell fake shoes to its customers. However, the Business Insider report paints a different picture, and it is hard to ignore the evidence that Goat has been selling fake shoes to its customers.If the allegations are true, then Goat is committing fraud and deceiving its customers.
If Goat is indeed selling fake shoes, then it needs to stop doing so and refund the money to its customers who have been scammed.
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Will I Receive A 1099
A seller may receive a 1099-K when certain sales and transaction thresholds through third-party settlement organizations are met. If you are not based in the United States, do not cash out in USD, or do not meet the threshold requirements set forth below, you may not receive a 1099-K.
Our third-party settlement organizations will mail out a 1099-K to you if your gross total reportable transactions exceed $600 USD for the calendar year. Please note this threshold is a change from prior years.
Effective January 1, 2022, new IRS regulations have significantly changed the reporting thresholds for third-party settlement organizations associated with Form 1099-K from $20,000 USD gross payments and 200 transactions in a calendar year to a threshold of $600 USD in aggregate payments with no minimum transaction requirement.
Features Of The Goat App
Image source: businessinsider.com
The GOAT app has a plethora of functions and is relatively easy to use. For example, youll see categories with photographs first on the Discover page, and if you like what you see, you can click on the category to view more images.
There is a Shop All button beside each category if you want to go through more options. Brands, color tones, and styles are all available for purchase.
You will get dynamic images of the products, similar to viewing sneakers shown on a spinning counter.
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How Does Goat Verify Shoes
Goat helps buyers and sellers using deep learning to verify shoe authenticity with a ship to verify model. When a shoe is bought the seller sends it to Goat for verification. Once they are authenticated, the company releases the funds to the seller and the product gets shipped to the buyer.
They use a good deal of various heuristics and data points to verify whether or not the shoe is authentic. Goat sees the most sneakers in the world, making them a leader in data collection around sneakers. Its pretty easy for them to tell the difference between a real and a fake.
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My Items Just Sold What Do I Do Next
If you are in Mainland China, please see Shipping for Mainland China Sellers below.
If you are in Hong Kong SAR, please see Hong Kong SAR Drop-Off below.
Congrats! First confirm the order, then tap Generate Label. Well then send you a prepaid, pre-addressed shipping label. Each shipping label has a tracking number connected to the order for us as well as for the buyer to track.
Remember, items must be shipped in the same condition in which they were originally listed. If the condition changes due to damage or wear, you may cancel your order in the app under the Sell tab.
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How To Sell Your Yeezy: Complete Yeezy Resell Guide
This is a complete guide on how to sell your Yeezy and where to sell it. Whether you are selling because you dont want your Yeezy anymore or you bought one purely for reselling purpose, this guide will help you out. Lets get going
How to Prepare Yeezy for Sale
How Much to Sell Yeezy?
Theres no clear cut answer to this question as it depends on many variables but here are some tips that should help you pricing your Yeezy:- Check the original prize of the Yeezy, add shipping costs, the cut of a third party selling platform and a tidy profit to gauge the real value of the Yeezy.- Make sure you are not asking too much as you might be left sitting on the Yeezy.- Do not lowball it too much because people might assume you are selling a fake.- You can ask a higher prize if you are selling Yeezys that are no longer available, exclusive or its really hyped.- Reduce the price slightly if the Yeezy has been worn some or it has some imperfections.- When using an auction site, choose the rock bottom price that you can deal with to make a fast sale.- Accept different forms of payment and choose a platform that converts currency if you hope to sell internationally.- Be ready to negotiate on the price you set because most people cant resist negotiation even when buying a limited-edition product. If you dont want to negotiate, mention that clearly in the advertisement/description, and stick to your word.
Where do you sell Yeezy?
8 Other Tips for Selling Yeezy
- Popular Yeezy Articles
Sneaker Culture Now More Than Shoes
The sneaker world has evolved since it went mainstream three years ago, says YouTuber and sneakerhead Richie Le, who has made weekly videos on sneaker culture and fashion since 2016 and now has 1.1 million subscribers. Initially, sneakers were perceived as another commodity like baseball cards that had become easier to trade via platforms such as Goat and StockX.
Now, sneakerheads are focusing more on how to style their grails to show an understanding of the culture. Theres sneakerheads that buy shoes just to buy shoes, Le says, And then there’s a lot of guys that are like, I’m not that, so let me differentiate myself by letting you know I’m in the culture, I can hoop, I know how to style my sneakers.
Goat is aiming to serve this style-conscious sneakerhead. We think about bringing the greatest products together from the past, present and future. The idea is that you can buy the latest season and you can also find that archival Raf piece that you missed in 2003, all on one platform, Sugano says. Goat is also investing heavily in augmented reality to enable consumers to try on sneakers from their mobile devices and think about how to style them, wherever they are in the world.
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Is Goat Legit For Sellers How To Sell On Goat
Looking to clean out your closet and make some extra cash? GOAT is the perfect place to do it! You might be wondering how their shoe listing process works, but selling on GOAT is easy and only takes a few minutes:
There’s also a GOAT app which is a great way to buy and sell on the go.
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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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.
How Does Goat Work
GOAT is an online marketplace that connects buyers and sellers of high-end sneakers, apparel, and accessories. The platform also offers a resale market for items that are not available on the primary market, where buyers can browse the site and purchase items directly from sellers.
When you find an item you’re interested in, you can contact the seller to ask questions or make an offer. Once you’ve reached an agreement, you can purchase the item and have it shipped to your door.
Learn more about reselling sneakers in our complete guide here.
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What Happens If My Items Are Found To Be Fake
If you send items to us that we deem inauthentic or unsellable in our sole and reasonable discretion, the buyer will be refunded the full amount they paid for the items and you will have the option to have the items sent back to you or disposed of by us. If you choose to have the items sent back to you, we will send you an invoice for the shipping costs back to you. If you do not respond within 14 days of receiving notice that your items are inauthentic or unsellable or if you do not pay the shipping invoice within 14 days of receipt, we will dispose of the items in our reasonable discretion.
For Mainland China sellers: At this time, if you send items to us that we deem inauthentic or unsellable at our sole and reasonable discretion, we will dispose of the items and you will not have the option to have the items sent back to you.
Inside Goats Plans To Merge Sneaker Resale And Retail
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The booming sneaker resale market is no longer just about flipping Jordans and Dunks. Sneaker resale marketplace Goat is thinking much bigger off the back of doubling its valuation last month to $3.7 billion, following a $195 million Series F funding round.
The ambitious aim is to develop Goat into the leading e-commerce destination for young, cool consumers to shop retail and resale at once across luxury, streetwear and sneakers.
Goat hit $2 billion in gross merchandise value over the last 12 months as consumers flocked to buy and sell authenticated sneakers and clothing as a hobby or side-hustle during the pandemic. The platform now has 30 million members and 600,000 sellers across the world.
The figures keep on escalating. The global sneaker resale market alone could be worth $30 billion by 2030 according to Cowen, and multiple platforms want a piece of the pie. Ebay partnered with SneakerCon in 2020 to step up its sneaker authentication services. Goats main competitor, StockX, which also operates on a third-party authenticator model and was recently valued at $3.8 billion, hit $1.8 billion in GMV in 2020.
The Goat app has the look and feel of a luxury retail site, with added features like AR try-on.
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Writing An Accurate & Personal Description
Youve hooked them in with your title, theyve scrolled through the photos, and now theyre reading your description.
Youre unlikely to be the only one selling your particular sneakers, so you have to stand out. Think of the copy as what a salesperson might say in a store thats how you want to come across.
Firstly, the details you have to include:
- Brand, color and model. Use the exact colorway description if you can e.g. University Red, Safari etc. because this will enable accurate searches.
- Sizing in US/EU/UK, because buyers could be from anywhere.
- Condition e.g. New with tags , New without tags , Like New, Worn Once, Hardly worn, Used in good condition, Used with signs of wear. If there are specific marks, call these out e.g. Small stain on toe, please see photos for more.
- With original box
- Materials: nubuck suede, leather, mesh etc.
If you can find your sneaker listed by the brand or retailer, it can be time efficient to copy parts of the official description, especially when it comes to materials and colors.
Secondly, these are the details which will personalise your description:
- Why youre selling them: too big/small, closet clear-out, dont wear enough.
- Who they would work for: To add bright colors to your rotation.
- Outfit suggestions: These look great with sweats for a cosy look.
Add in anything else you think is relevant after all, youre selling yourself as much as the sneakers.
A post shared by Grant Tucker on Mar 18, 2019 at 5:10pm PDT
Who This Course Is For:
- Anyone looking to make money selling shoes online
- 4.1 Instructor Rating
Hi all! I am Miles Longstreth, and online entrepreneur, 6 figure reseller, and instructor here on Udemy.
I have done over $500,000 online over the years including profiting over 6 figures during my time in college.
I hope you enjoy my courses that have over 400 students enrolled and have countless flawless reviews!
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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:
What Method Does The Goat Use To Verify Items
GOAT partners with high-end boutiques and shops and its resellers, all of whom have demonstrated their quality and are incredibly reputable.
GOAT follows all of these procedures to sell only authentic products and be the most trusted and reliable platform for its products globally.
This level of trust is achievable only through careful authentication of the legitimacy of the products sold on the app.
Combining a personal assessment of the product with what the company refers to as machine learning technology validates the products offered for purchase.
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