Sneaker FAQs: Common Questions
You can find numerous reasons to get involved in reselling sneakers, from being an enthusiastic collector to earning extra income. It's not an easy industry to navigate, and negative aspects often cause people to drop out before making a profit. This article will cover the common questions and objections most resellers encounter so you can decide if you want to pursue this business line.
Why Do People Pay So Much for Old Sneakers?
Who would have thought that a used or old pair of sneakers would be seen as a collector's item? But they do. If you're looking to build your collection, you'll want to add a few interesting pieces with a great backstory. Used sneakers are a way to save money when you first start collecting. You can find deals by buying from other collectors who want to unload a pair they've had for years.
Another reason to purchase old sneakers is that new pairs from the past are hard to find. Certain Jordan and Air Max retros also last longer if they're occasionally worn. It's not uncommon for shoes to break down and crumble with age, so knowing it's been worn recently and held up under that wear is a good sign.
"They don’t make ‘em like they used to" may be a phrase you’ve heard before, but almost certainly not applied to sneaker collecting and resale. For the moment, we’re not talking about the actual manufacturing of the sneakers, we mean the hype behind the releases. In the past, releases seem to have had a lot more hype; whereas recently we’re seeing an approach that indicates more quantity over quality.
What Are Some of the Signs to Look Out For When Buying Sneakers?
Any shoe you purchase from a collector should be the real deal. Here are a few things those new to the sneaker game should look for so they aren't taken advantage of by unscrupulous collectors.
Check your sources and know who you deal with, especially when purchasing through social media. The seller's page should be fully functional with normal activity. The profile is likely fake when you see one obscure picture with two or three likes. If you make a purchase from an unfamiliar website, use Paypal or a credit card for the buyer protection they offer.
Research is just one of several steps in an important part of the process. Don't just take advice from random people or friends. Take the time to become an expert. View online tutorials to learn more about the industry. Visit sneaker shops and talk to the employees who have extensive knowledge of limited releases and know what you should look for when you start collecting.
When your sneakers are delivered, examine the packaging closely. The packaging and tags are telltale signs of inauthenticity when fakes are made. Use the internet to compare the CPU code, fonts, item stickers, and other packaging elements. If they don't match up, the shoe is fake.
Take a whiff of the shoes. That's right, smell them. If the odor is pungent, it’s likely that cheap, toxic, inauthentic materials were used to make the replica sneakers. Keep these tips in mind as you look for sneakers to add to your collection.
Where Can People Go to Check Sneaker Authenticity?
One of the most painful experiences a sneakerhead faces is finding out they bought fakes on the secondary market. Authentication services have been implemented to help collectors verify that the products they've bought are legitimate. Here are a few of the best.
- CheckCheck: This paid service provides two-step authentication that uses uploaded photos to find inconsistencies in the sneaker. They're open 24/7 and have a typical turnaround time of thirty minutes.
- Legit Check App by Ch: The app teaches you how to spot fakes by providing a checklist of things to look for. If you are still unsure whether the shoe is real after using the checklist, you can pay to have the product checked.
- Legitmark: They have two levels of authentication services, concierge and standard. Upload your pics, and the team will review the product. A specialized tag is sent for the shoe when you use the concierge service to prove the shoe's legitimacy.
Should I Start Collecting Sneakers?
Getting involved in the trade is a personal choice that depends on your motivation. If you just have a love for sneakers and view them as art, you can put together an amazing collection if you are diligent about the hunt. Put together a list of sneakers that have caught your eye, and as you search for them, you'll find others to include in your growing collection.
For those looking to flip limited releases for profit, it all starts by building a collection. Enter raffles to have the chance to buy the sneakers at the retail price before the secondary market raises the costs.
How Much Can I Earn Reselling Sneakers?
The average profit is $80 to $100 for each pair of starters. Profits vary based on what is released in any given season. Sometimes, nothing especially great is released. In this case, resellers often buy large quantities to sell in bulk. Bulk selling often means that while making a marginal profit per pair, the high quantity of sales is the primary variable driving revenue and increased profit.
In a hype season, you can work your way up to making a $500 profit for a pair of popular sneakers. In a season with less renowned releases, you may need to resell a lot more pairs for considerably less money in order to achieve $500 in profit.
Is the Sneaker Market Stable?
Now is a great time to get into the resale game. The market is strong as many sellers are currently offloading sneakers. The global sneaker market is currently $6 Billion and expected to reach $30 Billion by 2030. There's plenty of money going around and available for newbies to earn a profit.
Overcoming Common Objections
When you're in sales, customers will make objections as they try to get you to lower your prices. Set a fair price; don't compromise your product by underselling it. Here are two of the biggest objections and tips on how to handle them.
1 - It's Too Expensive
When someone says the sneakers are too expensive, it's important to explore further and ask for context. Find out what they're comparing it to and have a conversation explaining the sneaker's value. Communicate the history of the shoe and a story as to why it's so valuable. People often understand that quality costs, and as long as you explain why it's so expensive; they might be willing to go over their budget for the shoes.
2 - Someone Else Has Them Listed at a Cheaper Price
Before you list your price, research the cost and find out how much other collectors charge. That way, you'll be prepared for many of the false claims scammers will make as they try to get you to part with the sneakers for less than they're worth. Emphasize the return on investment and focus on selling the value. You’ll get less resistance when they can see the value in financial terms.
Stay Informed and Have Fun Selling Sneakers
Although it can feel like a full-time job with the amount of time you spend conducting research and talking to other collectors, reselling sneakers is also fun. You'll come across those rare finds at great prices that will make the hunt worth the effort. Read blogs on legitimate sneaker websites and talk with other sneakerheads in forums and on platforms designed for resellers. There's a wealth of information to be gained that you can't learn unless you get out there, learn the lingo and talk to reputable salespeople.
Q: How do I start collecting sneakers?
A: Enter raffles and follow legitimate collectors online to nab sales. Keep up to date on basic release schedules and common practices for online purchases.
Q: How much do sneaker resellers make?
A: Amounts vary. There are plenty of variables to consider: How many are you selling? What silhouettes, collabs, and special editions do you have in stock? Different factors affecting sneakers (hype, collabs, social media, etc). It’s also important to note that a sneaker can lose you money as well, so take your research seriously.
Q: What is Sneaker Con?
A: It's a global premier sneaker show where vendors sell some of the most sought-after models.