Cashing In On Sneakers

To those of us who remember the bi-annual trips to the shoe store with our parents, buying and selling sneakers from the comfort of your own may not seem like the hot new home-business, but many people, including some still in their teens are learning buying and reselling sneakers is a quick path to cash.

Their fathers may have collected baseball cards, but the sons are now collecting sneakers. Entire web sites and blogs detail their collections, complete with pictures and announcements of sneaker release dates. For some, sneaker collecting is a passion for fashion – the desire to own the hottest, brightest, and best. They may own the same pair of sneakers in a rainbow of colors. But for others, sneakers are an investment. Stacks and stacks of never worn or barely worn retro sneakers adorn their bedrooms and closets. While his dad checks stock quotes, the son checks resale values on the internet.

Every day on online auction sites, sneaker buyers and sellers participate in tens of thousands of sneaker auctions. There’s big money to be made. A shoe that initially listed for 100 to 200 dollars can be easily be worth 5 to 10 times that if it is part of a limited production run. Sneaker buyers are looking for the shoes that no one else has and are willing to pay top dollar for the rare sneaker. For sellers willing to brave long lines on sneaker release days, this can mean big bucks.

So what does it take to be a sneaker reseller? First, you need to keep up with the ever changing stock of shoes. Sneaker buyers are fickle and will flock to the latest and greatest shoe, so as a seller you need to be right there with them, preferably one step ahead. There can be dozens of different models of a sneaker. You need to know which are the “hot” shoes and which are the “lame” shoes or else you’ll end up with worthless shoes that no one wants to buy. You need to keep track of the going rates for each sneaker so your prices are in line with what sneaker buyers are willing to pay. You need a knowledge of the online auction process, which in turn means you need to be at least a little computer literate. Lastly, it helps if you have just as much of a passion for sneakers as your buyers. Just know that, if you want to make money, you’ll have to let go of those sneakers no matter how rare they are.


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