If you’ve started reading this, you must be interested in sneakers and how to make money off of them. Well, you’ve come to the right place! In the next 5 minutes you will learn the basics of sneakernomics and how you can start turning a passion into a hobby through this blog post.
If you know anything about sneakers, you’ll know that THEY CAN BE EXPENSIVE. I’m not only talking about $100-$200 expensive. I’m also talking about $5,000-$10,000 expensive. But for some reason, sneaker lovers seem to validate their reasoning on spending thousands of dollars on, well, rubber.
Why?
Well like most markets, the sneaker market works on supply and demand. Sneaker lovers aren’t spending thousands on your average shoe. No no no. What they are buying for that amount of money is some of the rarest, hard to get shoes. The price of these shoes are dependent on multiple factors with supply and demand being the major two. Some other factors that affect the price are the following (in no specific order):
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Color
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Streetwear trends
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Brand
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Collaborations
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Quality
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Model
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Mens or womans sizing
What is also important to understand are the different price definitions. In the sneaker world (Or any reselling market) there is retail and resale. Retail refers to what the shoe costs coming out of an authroized store. For example, the retail price on the shoe shown below is $175 USD. This price is fixed and rarely deviates within models. The resale price, on the other hand, is highly variable on the factors mentioned above. Using the same example below, this shoe has a major collaboration with famous rapper, Travis Scott, has very nice everyday colours, very low in supply, very high, very good quality, and is a highly desirable model. Currently, the resale value on this shoe is around $2,750 USD.
Yep, you read that correct. Almost three thousand dollars!
So you might be thinking something along the lines of this: You walk into an authorized store selling Jordans, you see these bad boys on the shelf and you snag 5 pairs for $175 for a total of $875 (Not including tax) and you sell them all for market price for a total of $13,750.
That’s a profit of $12,875!!
Okay okay okay, let’s not get ahead of ourselves. It’s not that easy….
First of all, the reason it has such a high resale price is because of the fact that they are hard to get. An average joe can’t simply walk into a Jordan store and purchase these for retail 3 years after the release date. No sir. In fact, people had to wait MULTIPLE HOURS in line to get a chance to purchase these. On top of that, there was a limit of one pair per person. Oh and purchasing it online? Good luck! Nowadays there are people with bots that can go through the whole checkout process faster than any human fingers making the sneaker sell out in the matter of seconds. Okay okay okay, there are still online raffles that you can enter. But…. you have similar chances winning the lottery!
Sooooooo you might be discouraged. Although don’t be! There are so many opportunities in the sneaker market that can make you that $12,875 profit. The aspect of the shoe being hard to get is what makes it exciting.
And this is the perfect introduction to our blog… Sneakernomics will have many posts for you to learn how to get into the market and make a profit. We will teach you the basics, give you reccomendations, and direct you in the right area to start your sneaker empire!
All you need to do is subscribe (It’s free!)
We will see you in the next post ;).
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