What do you do if you’ve spent your last $100 on a pair of new Jordans and now need to flip them ASAP?
If you’ve ever been in a similar situation, you know the obvious choices are Ebay, StockX, Grailed and Goat.
But if your goal is to flip quickly for maximum profit, here are four things to consider when evaluating the options.
- Know where the customers are
This may be obvious but let’s take a look at the data. Below are the top resale marketplaces for sneakers, ranked by monthly visitors. You can clearly see who dominates the sneaker resale market. These should be your first choices.
PRO TIP: For a quick sale, I will list my shoes on Ebay, Stockx, Grailed and Goat at the same time.
- Know the reseller competition on each marketplace
Each marketplace will have slightly different prices. Most of the market will follow Stockx and ebay. But It’s important to research each site separately. You need to look at current sales vs. sold listings.
I use Google shopping to research current sneaker prices. It allows me to quickly compare pricing on every platform.
I will then research Ebay and Grailed independently. On those platforms, Sellers are free to create their own sale listings and buyers can choose which seller to buy from. So prices will vary greatly. Stockx, Goat and the others use current market sales data to set prices. The buyer has no choice of what seller to buy from.
When researching current listings on any website, it’s important to be specific in your search. Always include the proper colorway and shoe size. You will often notice certain shoe sizes sell for higher prices than others.
Currently you can not view past sales on Goat, Flightclub, Kickscrew or Stadium Goods. If you haven’t noticed already, prices on each platform are generally within $10-20 of each other. So we must rely on past sales history on ebay, stockx and grailed vs current sales offerings on the remaining platforms.
How to view past sales on Ebay
How to view past sales on Stockx
How to view past sales on Grailed
- How to set the right price to sell your shoes quick
This is simply a matter of taking the research you did in the last step and setting a price.
You first need to ask yourself two questions: ”what is my minimum acceptable profit?” And “Am I looking for a quick sale or maximum profit?”. I always look to make a minimum profit of $40 per sale.
Effective pricing is all about separating yourself from the sea of resellers. I price my shoes $5-20 under what the majority of sellers are offering. On Ebay & Grailed, offering free shipping when other sellers are not or accepting offers is often enough to stand out from other sellers.
Not being in a rush to sell opens up a few more strategies to make more profit.
If I have time to wait out the market, I will price my sneakers higher than the other sellers in hopes that once they sell out I will be one of the few remaining sellers of that shoe.
If I am the only seller of a certain shoe size, I will list my shoes slightly higher since I have the power to potentially set a new market price.
Don’t be greedy & always check recent sales so you don’t set the price too high and scare off buyers. Always factor in all costs when setting your price.
- Know the fees. “If it makes dollars, it makes sense”
These platforms offer sellers many benefits like fraud protection, payment processing, sales tracking and most importantly, access to hundreds of thousands of sneaker buyers.
Their services are not free. Expect to pay a commission of 8-20% on the final sales price. Each platform has its own ever changing fee structure. Below is a list of the current fees:
|WEBSITE||FEES||FINE PRINT||SHIPPING COST|
|Ebay||12.55% + 30 cent. Or Sell sneakers $100+, Pay no fees.||LINK, LINK||Charge your own shipping fee to customers or offer free shipping.|
|Stockx||12.5% , After 3 sales = 12%, 30 sales = 11.5%, 100 sales = 11%||LINK||Free (US sellers) Prepaid shipping label provided|
|Grailed||11.9% + 30 cents||LINK, LINK||Charge your own shipping fee to customers or offer free shipping.|
|Goat||12.4% (good standing acct) can increase to 25% + 2.9% cashout||LINK||Free (US sellers) Prepaid shipping label provided|
|Flightclub||9.5% + $5 seller fee per item, 2.9% cash out||LINK||Free (US sellers) Prepaid shipping label provided|
|Kickscrew||20%||LINK||Company is based in Hong Kong. Unclear on shipping cost.|
|Stadium Goods||20%||LINK||Free (US sellers) Prepaid shipping label provided|
Always factor these fees when calculating my potential profit for each flip. Use these free fee calculators to determine potential profit on your next flip:
Bonus Tip: Always have a back up plan.
Sometimes profit margins are too small once you factor in platform fees. In those situations you must turn to the underground.
You don’t have to pay high commission fees if you sell on social media sites like facebook groups, twitter, instagram and reddit. You can also sell on local classified sites like Craigslist, letGo and offer up as well.
This is the Wild West of sneaker dealing. Buyers and sellers alike have been victim to scams, theft, and even murder. It sounds scary but if you are careful these marketplaces can be great for quick sales and higher profit margins.
|4 HACKS FROM A PRO RESELLERCHEAT SHEET|
#1.) Know where the customers are.Your customers are going to be on Ebay, Stockx, Grailed and Goat. Sign up for accounts on each. If you want to flip sneakers the lazy way, sign up for one of these consignment sites: Flightclub, Kickscrew, or Stadium Goods.
#2.) Know the reseller competition on each marketplace.
Research the past sale prices of your shoes. Research the current offers for this shoe on each platform. This is the key to pricing your shoes to sell quickly.
#3.) How to set the right price to sell your shoes quickly.
Know how much money you want to make on each flip. Be realistic. Use the data from step 3 to set your prices.
#4). Know the cost of doing business.
Before you list your shoes for sale you should have a realistic idea of profit potential. Always factor in the marketplace fees and shipping cost.