It's actually impossible to know how much you can make or lose from reselling sneakers and clothing, but what I can tell you is that you can make quite a lot of it. The primary purpose of this article is to assist those that are interested and want to join this exciting community of resellers. You will learn all the essential things that you need to know and everything that you need to secure a lot of shoes and sneakers that you can resell.
Understand Supply & Demand of the Reselling Product
Is there anything like guaranteed profit? Right now, the items that I can bet with that they will always be needed are Yeezys, items from Adidas and Supreme. However, there are some factors that you will need to take into consideration before you can be assured of the value of a Yeezy sneaker or a Supreme piece. The basic elements are supply and demand. The resale value comes into play if the demand is greater than the supply; it's as simple as that. A fan of Yeezy sneakers that is finding it difficult to find a particular one will definitely be ready to pay some extra coins for it. That’s basically how the world works.
Understanding Your Market
You will need to consistently search for items that are resalable. This is the main reason why you can’t do without social media platforms like Twitter and Reddit. There are accounts on these platforms that are mainly about announcing new items that will be popular in the market, and they also provide an idea of the resell value. There are a lot of sources, websites, and links that you can use to have a basic idea of the future value of an item. If you are looking for an online market for shoes with an excellent real-time update on price and potential popular items, you should visit StockX choose the item that you are interested in and navigate to the sales history, and you will be able to buy the item or ignore it for something else.
Understanding Market Value of the Product
To have a better price overview of the product that you want to buy from StockX, you can also visit eBay’s sold listings and search for the product before you purchase it. The advantage is that you will have a perfect idea of the market value of the product before you drop your hard-earned coins. Also, you can look out for the current pre-order prices, this will give you knowledge of how much people will be paying for the product, and you will be able to know if you will be making any profit and how much you will be making from the product.
Profit From Reselling Sneakers Online
Most of the people selling clothing items in the US will be familiar with this, this is the main reason why I will try to get started every topic on making sure you understand what you are getting it, especially for people that are just starting and then take you through everything to become successful in this competitive business.
Don't get me wrong, just like I stated earlier. I'm not saying you will start making 100k per month after reading this article. However, what I can assure you is that you will find every necessary tool to be successful if you pay attention to the rules, and you are consistent. To make it simpler, let's start with some calculations, so you know that I'm not joking here. Let's assume that we get up to five Supreme clothing items in a year and putting the price around $300 to $500. Now putting the retail value around $200, and you were able to get around 5 of these at a retail price during the drop. This means that;
If you think about, that's not really bad, and that's just an estimate. Do not forget that this calculation does not include other items that will be released during the year that can still give you more profit, for example, Nike, Yeezy, Adidas, and some other ones. It's basically impossible for a month to go by without a reselling window. The point is to be able to identify the items that will actually give you the highest profit, and that is one of the key lessons that you need to learn as quickly as possible with more items that you can obtain and sell successfully, the more profit that you make.
Don’t forget that we are talking about the least that you can make and taking that into consideration, it's quite possible to make up to 10k profit in a year and I've seen people that made up to 20k in the first year. What you have to do is to make sure that you are getting better, make sure that you are consistent, learn all the necessary tools, and you can make a fortune out of this business. Although, I'm not saying you should stop your daily job now, if you are consistent and you put in the effort, you might not need that boring job any more.
Just like I mentioned earlier, this is no magic or a get-rich-quick idea. It requires a lot of work, focus, consistency, and money. You will need to invest your time and money; the business of reselling is definitely an investment, a big one actually. If you stick to the rules, you will definitely make more profit than you can imagine. You will be able to meet new exciting people; you learn new ways of making money while making money along the way. In the end, the main purpose of the business is to make money from reselling items.
You will get to a point you will start falling in love with the trade, and the money won't really matter anymore, you will be more interested in meeting new people, making connections and helping people in the way you can. Yes, money is definitely important, but it will get to the point that you will be more concerned about the relationship that you can make and how you can help others that are interested in the reselling business.