Sneaker reselling has been around since the very beginning of limited sneaker releases. The sneaker game is still going strong with the recent releases of the Yeezy 350 Boost V2, and other releases like Jordan and Nike. Now, with the dawn of online raffles and drops, it has arguably become easier than ever – even though many more are doing it now than five years previous. So, want to get in? Want to learn how to make money buying and selling shoes shoes? Look no further, because this is the StyleStreet sneaker reselling guide.
What, When and Where are Sneaker Releases?
Keeping track of releases is crucial, as you need to know what’s releasing, where it’s available and when it drops. For this, we recommend the following websites:
They catalog what’s releasing, the price and where to purchase. A one-stop site for everything you need to find out in order to be a successful reseller. These sites are an invaluable tool, as they are constantly updated. This means you can decide which shoes you’re going for, and keep organized – never missing a great release.
How Do I Know Which Sneakers Are Worth The Investment?
When you go to a site like SoleCollector, the number of releases is intimidating, to say the least. Multiple pairs release a day – so how do you decide what to pick up? Well, once you know more about sneakers and the resell market you will be able to just go off instinct, but not yet. Instagram accounts like @resellology and @stylestreetco post frequently about new releases, along with resell estimates. The comments on these posts are valuable too, as you can see whether people are indeed going to pick them up, and what others thoughts are.
It’s always good to make your own opinion, and that’s what will eventually allow you to do decide what to cop. A good rule of thumb is to never pick up a shoe with an estimated resell of $40 on top of retail, as you have to remember you will pay fees through selling on eBay and Grailed, the two platforms we will look at later – so $40 allows for around $30 pure profit. That may not seem like a lot, but it will slowly, but surely, grow. If you make $30 every couple of days – it all adds up.
So I’ve Chosen What Shoes To Buy – What Next?
So, you’ve decided what to buy. Now the first step is doing the right research. Find out where they are available, how much they are and what time they release. This is a good time to use the sites mentioned earlier, as they have all of this information. There will be two ways the shoes might release: through a raffle, or going live – you should be able to find this ahead of time. Be aware that with the revolution of “Sneaker Bots” it is extremely difficult to get these releases live.
Raffles are literally what the name suggests – a raffle. Many sites that stock the more hyped footwear use this tactic as some believe its fairer due to being harder to bot. But, what you need to understand is that raffles are completely random. It’s more likely for you to not get drawn – so don’t be angry if that is the case. All you have to do is enter the raffle, and wait for an email confirming your order – or saying unlucky, you didn’t win. One thing to note about raffles is that it’s worth entering on multiple sites if you have the money and the shoes have a high resale value. The more raffles you enter, the higher your chances!
This is the method some retailers use – and it takes more work from you. The best way to describe this method of releasing sneakers is to compare it to normal online shopping. It’s exactly the same – except the sneakers will most likely sell out in seconds. A good way to familiarize yourself with the checkout process of your selected retailer is to go on to youtube and search: manual cop [your retailer here]. This should show you how the checkout process works.
Another good tip is to do what’s referred to as a ‘dry run’. Basically, on your selected retailer, get familiar with the site’s checkout by adding a pair of sneakers, it doesn’t matter which, to your basket and doing a ‘fake checkout’. Basically, go to the checkout area when the sneakers are in your basket and take note of where the buttons are – and what methods of payment the site accepts. This will shave seconds off your checkout time – but that may be the difference between you actually getting the shoe – and not. But, remember to remove the shoes from the basket at the end. You don’t want to accidentally purchase them!
I’ve Got The Shoes In Hand – Now What?
Congratulations! You’ve managed to get your hands on a pair of hyped sneakers – by one method or another. Now, listing them. We are going to cover two ways of selling your shoes – Grailed and eBay. These are the two main sites that you are going to be able to sell your sneakers on – with an in-depth guide on each below. There is also the possibility of selling shoes on social media sites such as: Twitter and Instagram. However, you need to be very careful with these type of transactions, always make sure the person buying or selling you sneakers is trustworthy and has other trusted users who can vouch for them.
*When using a payment service such as Paypal, it can be difficult to make sure you don’t get scammed or burned by chargebacks. Venmo is an phone app that doesn’t allow ANY type of chargebacks, so be careful when buying sneakers through Venmo.*
Now, if you’re under 18 you need to have your parents to make an account for you – as well as a PayPal account. So, once you have your account you need to do the following. Create a listing, and fill out all the necessary boxes. Now – the important part. If you have the shoe in hand, make sure to take high quality good pictures. They need to be well lit, detailed, and show as many angles as possible. This will insure that your buyer knows they are getting a real product, it won’t hurt to throw the receipt in the picture as well.
Now – if you don’t have the shoe in hand it can be difficult to sell on eBay if you aren’t a trusted user. This is difficult because obviously you want to get the shoe listed quickly as possible, because people who didn’t cop will often just go straight to eBay – so here’s what to do. You use the pictures from whatever site you bought from, by right-clicking on the image and saving. You should receive an email from the retailer you purchased off. Use the snipping tool to get a screen grab of the email – but make sure to not include any personal information. Then, upload this image of the confirmation email (With no personal information) along with all of the stock pictures.
Now, create a title with the shoes name and size, as well as the term ‘BNWT’. This is a shorter way of saying brand new with tags. Now – pricing. We suggest looking on eBay by doing a quick search, going into ‘advanced’ and searching by sold. This should show an average price – but make sure you’re looking at the size shoe you have. Price often varies based on size, so be careful. Finally, make sure the listing is set to buy it now. This means that people don’t bid, and instead have the opportunity to purchase immediately for the price you set – with the money traveling straight to your PayPal account.
*Be aware when selling sneakers on eBay, they charge anywhere from 10%-14% depending on your account history and seller status, Paypal will also charge around 3% while accepting your money from eBay.*
If you don’t know what Grailed is, it’s effectively a marketplace specifically for fashion. The steps to create a listing are largely the same as the eBay method, including using the sites pictures if the shoe is not in hand, or your own if it is. Remember to add the order confirmation (With no personal information) to the listing. But, with Grailed, people will send you messages and offers – more often than on eBay. You will get lowballed. That is a fact. But, don’t cave in and accept a low offer because you want a quick turn around. If a shoe is at the right price – it will sell. So, check eBay for sold listings (Method above) and base your price off of that. Remember, make sure the price your checking is for the same shoe size.
*Be aware when selling sneakers on Grailed, they charge around 6% depending on your seller status, Paypal will also charge around 3% while accepting your money from Grailed.*
My Shoe Isn’t Selling – What Should I Do?
Don’t panic, however don’t just sit around.
So you’ve waited a week, and there’s been no interest. What do you do? Well, check eBay again for what the shoes are actually selling for. There is a tool on eBay that you can actually see what previous shoes have sold for, look on the left side under Show Only, and click on “Sold Listings”. If your price is above that, lower it. If it’s below, then the right buyer just hasn’t arrived yet. You need to have patience to make it reselling, and you need to realize that sometimes you just have to wait.
It is important to note that reselling prices will fluctuate, especially the first couple of days and weeks after the sneaker has released. It is also important to note that trusted sellers will receive more money for their sneakers when compared to newer sellers.
If you are that desperate to sell your shoe, services such as StockX are very quick when selling your shoe. The downside is that you will probably get less when selling on StockX because they take a good chunk in fees (similar to eBay’s 10%).
My Sneakers Sold! What now?
Congratulations! You’re sneakers sold! Be aware that services such as eBay will hold your money for weeks when you are a new seller.
Now, you need to package the shoes. We recommend this video for a comprehensive guide on how to properly package your sneakers:
This video has lots of advice and a comprehensive method on how to ships your sold shoes properly so they don’t arrive at the buyer’s house damaged.
Make sure to send the shoes as soon as possible so that you can add your shipping and tracking information.
Great! I’ve shipped off my shoes and the money is in my account – anything else?
Believe it or not, there are a couple more things. Once you have sent the shoes remember to notify the buyer you have sent the package via a message on Grailed or by the ‘Mark as shipped’ function on eBay. Then send a message to your buyer, along the lines of ‘Thank you for your purchase. The shoes have been sent, and when they arrive I would appreciate if you were to leave feedback for me’. It’s always good to remind people to leave feedback for you as they often forget, and lots of positive feedback can encourage people to buy off of you.
So you finally made a profit selling your first pair of sneakers, now what?
So, you’ve sent the shoes, the money is in your account and you have received positive feedback. Perfect. Now, it’s time to reinvest. Basically, start the whole process over again with another pair of sneakers. Now you have that much more experience the process gets easier and easier.
Thank you for reading the StyleStreet comprehensive guide to reselling sneakers! Good luck, all of us here at StyleStreet hope that your new business does extremely well!