Won a limited edition sneaker?
After reading the first part of the blog post, you couldn't help but sign up for some Raffles right away. To benefit from the artificial scarcity, you have to win the Raffle, of course. Mostly, though, it ends with an L, which is an abbreviation for lost. Since often only a few people can get the shoes, many traditionally collect a fat L on the release day of the shoe. If, on the other hand, you are lucky and win the right to buy the shoe, you can call that a W, which is an abbreviation for Win.
By the way, you can always find out which stores are offering Raffles in our release calendar. If you click on the shoe, you'll find an overview of all the Raffles and you can also register directly (if there are any).
But now let's move on to the lucky case where you win the limited edition shoe. Unfortunately, you don't want to wear it yourself, but sell it on: You now have several options! There are some marketplaces where shoes are traded with the highest bid and the lowest offer. Similar to shares on the stock exchange. The best-known marketplace originally comes from the USA and is called StockX.
Once you have received the shoe, you can offer it on Stockx, for example, and achieve the market price there according to supply and demand. Some US rappers have already invested in this billion-dollar sneaker business. Which shoes are in the hype at the moment also changes somewhat over time. Kanye West's Yeezy Boosts were in high demand for a long time, while Nike Air Jordans are currently dominating the market again.
There are other options as well
You can also use other platforms. In Europe, for example, there is also KLEKT, which offers the same service and an uncomplicated sale. You have to offer the shoes there, similar to StockX, and wait until a buyer buys them at your price. To make sure you choose the right price, you can use the existing offers as a guide. If you want to sell the shoe quickly, it's best to undercut the current bid.
With such platforms, there are always fees that reduce the profit margin somewhat. If you don't want that, you still have the option of selling your shoes on Ebay or locally in your area. So there are many options, depending on how much effort you want to put in, you can decide where to sell your sneakers. However, we think it's nice if you just wear the shoes yourself!
I'll introduce you to one or two valuable sneakers in the Sneaker Reselling Guide Part 2. To give you a feeling, we'll start with a popular Jordan from last year and then show you a pretty limited release.
There are also models that are actually popular regardless of any market movements. For example, the Nike Air Max have a very large fan base and are therefore sold more often at high prices.
Jordan 1 Midnight Navy
At the end of 2020, for example, this chic Jordan1 Midnight Navy came on the market. The shoe cost €160 at Nike and other retailers. If you were lucky enough to get it, you can sell the shoe today for between 250-350€, depending on the size. We'll discuss which sizes are good next time. At StockX you can have a look at the prices for the shoe in detail.
Nike SB Dunk CHUNKY DUNKY
This time I have chosen a very expensive shoe as an example. The Nike SB Dunk Low x Ben Jerrys cost 100€ if you got it in retail. The prices for the shoe in the resell are currently around 1,200€ or more at StockX. Such shoes are especially interesting for collectors and actually much too bad to just make a profit with them. Nevertheless, I wanted to show you that crazy prices are paid and that you can earn good money with them.