Buy And Sell Authentic Sneakers
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buy and sell authentic sneakers
The famous footwear manufacturer was already in a lawsuit from February with StockX over what Nike saw as trademark infringement in the non-fungible tokens StockX was selling, and has amended the suit to include the latest accusations.
As an online marketplace, StockX allows customers to shop for streetwear, handbags, and more, but it is most notable for sneakers, which it heavily markets. For many sneakerheads it's a destination and a chance to find pairs that sold out before they could buy them from the manufacturer and original retailers.
As the tension between the companies grows, some sneaker collectors such as Eren Nunerley of Houston, who said he began using StockX nearly five years ago, are not surprised that it's happening. Nunerley said the rapid growth in the market for sneakers has led to questions about the ability of StockX to enforce quality control.
At this point, you can either sell it for whatever the current highest bid is, or you can submit an asking price of your own and wait to see if anybody chooses to purchase the item. For those who are unaware, StockX only accepts sneakers that are brand new. The platform does not allow people to sell used sneakers or other items.
Initially, StockX claims approximately 10% of the sale as a transaction fee. As you sell more and more items on the platform, though, your seller level will increase and your transaction fee will diminish.
As a sneaker collector, I've been buying and selling sneakers online for a little over 10 years. Things have come a long way from sending postal money orders to people you met on forums with the hope they'll actually send you the shoes in return, or meeting up with strangers to do in-person transactions. But there are still many shady sellers, and fakes are getting even harder to point out.
Found in 2015 by Josh Luber, StockX is a self-proclaimed "stock market of things." The website makes buying things like sneakers, streetwear, watches, and designer handbags safe and secure by acting as a middleman between you and the seller. I've been using StockX for a few years now and, in my opinion, it's the most seamless way to buy or sell sneakers in the online resale market.
There are literally thousands of items to choose from on StockX. Once you find an item you're interested in, you can either buy it immediately for the current lowest asking price or submit a bid and wait for one of the many sellers with the same item to accept the offer. It's worth noting that StockX requires you to link to a payment method (PayPal or a credit/debit card) when placing bids. You'll only be charged if and when your bid is accepted. This is put in place to rid the marketplace of meaningless offers from flakers.
After your purchase is confirmed, the seller has two business days to ship your item out for professional authentication at StockX. I personally love that sellers are held accountable for timely shipping because nobody likes to wait a long time for items to arrive. Once your item arrives at StockX, it's marked with a green "verified authentic" tag and it's shipped out to you. You can track the status of your order (shipped by seller, authentication in progress, shipped to you, etc.) online.
As a buyer, you'll be able to keep track of current offers placed, pending purchases, and past purchases. Since it shows a collective amount of how much you've spent, you'll be less likely to spend your life savings on sneakers and streetwear.
Once someone purchases your item, StockX will email you a pre-paid shipping label and packing slip to include in the box. You'll have two business days to get the package sent out or StockX will charge you a small fee. Once StockX confirms that your item is authentic and in brand new condition for sneakers and streetwear or excellent pre-owned condition for watches and handbags, your funds will be released to you. StockX does take out a transaction fee starting at about 10%, but as your seller level increases, the percentage decreases. After that, StockX is responsible for delivering the package to the buyer.
The same way you can keep track of your purchases, you can also keep track of current, pending, and past sales. StockX provides you with details on your number of sales, how much revenue you've generated, and your authentication percentage.
I personally have never paid more than retail for sneakers, so I like to use StockX to get certain shoes for below retail. If there's a shoe that I want to buy and it's been sitting on shelves at retailers but is still full price, StockX usually has a lower price. While retailers tend to wait a long time in order to mark down inventory by the bunch, StockX will have a price listed that's closer to real-time market value.
Alternatively, the data works great as a seller. Let's use the last pair of sneakers I sold, the Union Los Angeles x Air Jordan 1, as an example. I sold my pair for $803 12 days after the release, but the market value peaked at $1,520 five days before the shoe released to the public. Today, more than two months after the release, the lowest asking price is currently $609. You can use data trends like this to determine when is the best time to sell your item to maximize profit.
Don't get me wrong, eBay is a treasure trove for sneakers and fashion (and really anything else you can think of), but it sometimes takes a lot more skill and patience to use. As a buyer, you have to weed out fakes, enter auctions, message sellers with questions, and much more. As a seller, you also have to spend time taking pictures, writing a description, and formatting listings, compared to making a sale with just a few clicks on StockX.
What I like best about StockX is its convenience and ability to remove human error from the buying and selling process. Since StockX holds sellers accountable for what's being sent to them and items are double checked before being sent to you, you'll never receive the wrong item, the wrong size, or a poorly packed product.
I also really appreciate how personal StockX is for users. In addition to the surface-level data on the buying and selling tabs, you can take a more granular look at all of your purchases in your portfolio and manually add other shoes you have in your collection, even if you didn't purchase them all on StockX. This makes it easy to manage the inventory of your collection, its current market value, and whether you've lost or gained money on it.
No matter what level of knowledge and enthusiasm you have for fashion, StockX is a fool-proof way to buy authentic styles in the resale market. Whether you're a seasoned sneakerhead, fashion expert, or a newcomer in need of direction, you can rest assured knowing that all transactions on StockX will be smooth.
I decided that, rather than dealing with speculating market forecasts (i.e. actually gambling), I should sell things that real people actually buy. And I was attracted to the idea of reselling as a hustle because there is no need to build a brand from the ground up.
Instead, you can piggyback on the popularity of existing brands. With this new strategy in mind, I headed for the clearance racks at local discount clothing stores and thrift shops, looking for brand name items that I could sell at a profit on eBay.
I started to develop an idea of what brands resold for, and realized that on eBay, brand new items were selling below retail prices, so to make a profit with my used inventory I would have to find a steep discount.
I had also been watching the TV show Million Dollar Listing at the time, where real estate agents made as much money selling one house as the average American would earn in a year. They did basically the same amount of work as the typical real estate agent but made ten times more simply because they were selling houses that were ten times more.
Through my research though, I found that it was nearly impossible to make money reselling name brand luxury items. In fact, they were almost universally selling for less on eBay than they were in the store, even when they were on clearance.
I saw that many pairs were selling for nearly $1000 with a lot of bidding action. After doing some research, I found that these shoes were available at retail at $350. Instantly I knew that I wanted to start selling shoes.
Even though only an estimated 4% of sneakers end up being purchased for immediate resale, the market has attracted side hustlers and entrepreneurs. At the top of the heap, some resellers are moving more than $2 million in inventory a year.
When selling shoes, it can be easy to amass a bulky collection that you have to keep somewhere. To avoid that, I focus on brand new releases or shoes that are really hot classics I know will sell quickly.
Another flipping business that might be worth exploring is simply buying clearance items locally, and reselling them for a profit on Amazon. This is known as Amazon FBA clearance arbitrage or retail arbitrage.
I dabbled in reselling shoes earlier this year and made some decent side money doing so before I called it quits due to issues with reliability and scalability. After reading this I have a couple of notes to add that may be helpful to anyone considering this.
1. Using Bots to win sneakers can/will get you banned from a lot of the more reputable websites (Supreme, Adidas, etc.). In many cases they will ban your IP, your address, and/or even your payment information. This is against the ToS for most sites. Additionally, everyone in sneaker culture hates people who use bots.
2. Paypal also takes around a 3% cut of your sales revenue to include the shipping cost. So if you sell a shoe for $100 plus $15 shipping, or anything really, on eBay you will pay eBay 10% on the $100, 3% (approximately) on $115, and another finalized cost through eBay that fluctuates. 041b061a72