Blogging Heros
You don’t need to start the next Microsoft or Apple to be sitting on a gold mine. Turns out, standing on your two feet — or more accurately, your two sneakers is what’ll bring in the big bucks!
Sneaker collecting is one of the most popular ambitions for newer investors and if you’ve been looking to start a sneaker collection, there’s never been a better time than today.
But how do you get started with building a sneaker collection?
Here’s what you need to do:
Set Sneaker Collecting Goals
Your first step is to determine your focus for your sneaker collection. While you likely have big ambitions, you have to first take baby steps with your new kicks.
We suggest that you first pick one model of sneakers. Start accumulating as many of this single pair before moving on to other models. A great way to start is to buy as many models of the Air Jordan 5 as you can. This is one of the most popular sneakers for new and seasoned collectors.
Determine how many pairs you want to own before moving on to the next model. The goal is to collect these sneakers and then sell them at a later stage.
Now let’s look at how you would sell your sneakers to other collectors.
Making Money When Selling Sneakers
You have to start by comparing sneaker prices at different retailers. You should do this six months after you’ve bought a pair. This lets you analyze whether the prices and demand have increased or decreased.
If the profit margin is too low, hold off on selling for now. You want to only sell your sneakers if the profit is at least 25% more than what you paid for them.
So if you pay $100 for sneakers, you should sell them for no less than $125. Of course, wait as long as you can so you can make an even greater profit. Next, let’s look at the best marketplaces to sell your sneakers.
Where to Sell Sneakers
There are many online platforms for you to sell sneakers. These are the best places to focus your energy. While you can also sell directly to physical stores, the online route offers more opportunities.
You can use online marketplaces such as eBay, Mercari, or Poshmark. You can also create your own online store using a service such as Gumroad or Shopify.
When selling sneakers online, you can opt for auctioning or direct selling. You have to decide which option works best for you to make fast and profitable sales.
If you own a rare sneaker, then you want to consider going the auction route. This will help you sell it at the highest rate possible. You’ll be surprised that there are sneaker collectors willing to pay upward of $1,000 for sneakers.
If you have a sneaker that isn’t in limited edition, you want to sell it for a direct price. For example, there’s no shortage of Chuck Taylors or Air Force Ones. If you sell these sneakers, you want to sell them at a “Buy It Now” price. You want to sell as many as possible to rake up fast profits.
You should also stick to one platform. If you try out too many platforms then you’ll spread yourself thin. Only focus on the one that brings you the most success.
Research the pros and cons of each platform before you decide which one works best. Look at what your competition is doing and you’ll see which option works best.
Researching Sneakers
Now let’s go back and show you how to choose what types of sneakers you should focus on.
Obviously, you must stick to brand names such as Nike, Air Jordan, Converse, New Balance, etc. But you should also consider luxury brands such as Gucci and Louis Vuitton.
Many luxury brand companies are now branching out to produce sneakers. Among elite collectors, one can expect these to be popular and sell for high profits.
Make sure you also look at what works but only what’s worked for several generations. For example, the Adidas that Run DMC sang about in the 80s is perhaps not as popular today.
But Nelly’s ode to “Air Force Ones” is an ode to one of the most popular sneakers of all time, one that still has high demand to this day. Chuck Taylors from Converse don’t seem to be losing popularity anytime soon.
While today’s basketball heroes might be Kyrie Irving or Luka Dončić, it’s quite clear that Air Jordans are still the best basketball shoes to invest in, especially when you have a matching t-shirt from Illcurrency to go with them.
Make sure you understand the cultural significance of sneakers before you decide which ones to buy. Immerse yourself in the culture of sneaker collecting before you become a collector yourself.
How to Succeed At Sneaker Collecting
Now let’s look at the important steps you’ll take to succeed at sneaker collecting.
Make sure you invest in a variety of sneakers when you start a sneaker collection. For example, try to buy two pairs at a time and buy different pairs. Get one pair of Air Force Ones and one pair of Chuck Taylors.
Try out different colors when shopping. The All-White Air Force One is always a classic. But you can also try getting an Air Force One pair in any of the different color schemes.
Always keep the sneakers in their original shoe boxes. You should also polish your shoes at least once per month. Do this even if you’ve never worn the shoes before. This ensures they always remain in pristine quality when you need to sell them.
Now You Can Start a Sneaker Collection
Now you know how to start a sneaker collection and succeed by using sneakers as an investment asset.
Your first step is to set sneaker-collecting goals. You have to decide which sneakers you’ll focus on and how many you’ll be able to buy at a given time.
Make sure you find the best online marketplace to sell sneakers. Research the culture behind sneakers to determine which ones to invest in. Now, don’t just shoe away! There are plenty of great guides on our website.
