The hottest sneakers can be hard to come by, especially with so many limited editions and custom runs.
When it comes to the sneaker resale market, how does certain footwear manage to hold its resale value?
Check out some insight regarding the sneaker market and what makes this a unique niche that can earn you some serious cash.
A collab (or collaboration) is when artists, performers, designers, or brands combine their talents to create a unique product. When it comes to sneakers, these items are typically extremely limited in number, which only increases their resale value.
Certain collabs will get you more cash than others, so pay close attention to the buzz. One example of one of the highest resale for a collab is Kanye West’s high tops that he collaborated on with the famous design house Louis Vuitton. Currently, these kicks are going for around $29,200 on the resale market.
Keep an eye out for different collaborations and check out the hype. The more intense the buzz is, the more likely they’ll have a higher resale value when the brand runs out and people can’t get their hands on them any longer.
Another good example of a popular collab is the one between Pharrell, Adidas, and Chanel which had a limited run of 500. These sneaks are currently selling for around $13,500 per pair on the sneaker resale market.
Sneaker Resale Market: Deadstock
The term “deadstock” refers to a product that is no longer being made. This can apply to everything from toys and vintage clothing to rare sneakers.
If you score a pair of deadstock Nikes, for example, you stand to make a pretty penny when you list them for sale. The word deadstock might seem like a negative connotation, but it can be positive in the sneaker market. Look for items that are brand-new but no longer being made, and you’ll probably make a decent profit.
When you’re listing sneakers for sale, make sure that they include the original box and the tag whenever possible. The more you have to include with the shoes, the more valuable they’ll be to buyers.
Buying Low, Selling High
The sneaker market is a lot like the stock market. You can buy something at a decent or low price, then hang onto it and wait until it increases in value.
Look for discounts on new sneakers that have special features or a rare, limited release. A good example is the popular YEEZY Adidas collaboration with Kanye West. The price for these shoes fluctuates, so if you can get them at a good price, there’s a very good chance they’ll sell for more later.
Watch the market like you’d watch your stocks, and look for a new product that comes at a discount. If you’re willing to put in the investment and hang onto them for a while, you stand to make a good deal of profit later at resale.
Keep an eye out for great deals on auction sites, local marketplace listings, and even at retailers that are going out of business. When you do your homework, you can find some amazing deals on new sneakers that will guarantee a decent return.
Keep in mind that not every pair of sneakers you buy will provide you with a profit. Make sure you do your homework and really research the current value as well as the demand so you know you’re getting a good deal.
Certain sneakers are a hit, while others might flop. As a reseller, it’s up to you to learn which ones are worth the investment and which ones might not be a profitable venture for you to pursue.
Simple Supply and Demand
Just like anything else you buy and sell, sneaker resale depends on supply and demand. The popular Kanye West YEEZY shoes from Adidas were a hot item, but then the supply went up, and demand decreased, forcing the resale value down.
If you’re looking to buy sneakers for resale, items that are limited edition are one of the best bets. Once these sneakers are no longer produced, it’s more difficult for people to find them and buy them. This increases the demand, which in turn increases the resale value on the secondary sneaker market.
Of course, the condition of the sneakers you sell also plays a role in their resale value. Stick to brand-new, unworn shoes whenever you can unless you happen to get lucky and find a pair that were once worn by a famous athlete or star. Even then, you’ll need to show some proof of authenticity before you can sell them.
Selling pre-owned sneakers can be profitable, but you’ll really need to learn the market before you dive in. Not everyone wants a pair of shoes that have been worn before, so it’s crucial to make sure you’re only selling hot items that have value behind them.
In reality, most of the sneaker market comes down to buzz and hype. The Nike MAG ‘Back to the Future’ shoes are a perfect example, as these were reselling for tens of thousands of dollars at one point.
Make Your Money with Sneakers
Once you get to know and understand the sneaker resale market, you can find some amazing gems that will be worth the investment. Remember to look for rare and limited editions, popular collabs, and shoes that most average buyers simply can’t find for the best profit.
If you’re looking for some amazing deals on sneakers or want to learn more about resale, contact us today!