Read on TwitterIt’s hard taking an L every time a new sneaker drops
You wake up early for what feels like a lottery
And you never get that pair you really want
But you see resellers get every pair they want
And they make racks
How?
THREAD BELOW
Why sneaker reselling?
It’s an industry that has experienced huge growth over the years
StockX, which is the eBay of reselling, is worth an estimated $3.8bn
Sneaker reselling itself was worth about $6bn in 2019 and is predicted to grow to $30bn by 2025
Huge opportunity
It’s an industry that has experienced huge growth over the years
StockX, which is the eBay of reselling, is worth an estimated $3.8bn
Sneaker reselling itself was worth about $6bn in 2019 and is predicted to grow to $30bn by 2025
Huge opportunity
Here’s some acronyms you NEED to know:
BNDS (brand new dead stock) - pair hasn’t been worn and usually hasn’t been laced
PADS (passes as dead stock) - may have been worn but good as new
BST - buy, sell, trade
WTB - want to buy
WTS - want to sell
BNDS (brand new dead stock) - pair hasn’t been worn and usually hasn’t been laced
PADS (passes as dead stock) - may have been worn but good as new
BST - buy, sell, trade
WTB - want to buy
WTS - want to sell
Less common phrases, but important to know:
Steal - a very good price to buy for
Low balling - a bad offer from a buyer
On hand - already own the pair(s) you want to resell, so no sourcing required
Backdooring - getting sneakers before they’re released to the public
Steal - a very good price to buy for
Low balling - a bad offer from a buyer
On hand - already own the pair(s) you want to resell, so no sourcing required
Backdooring - getting sneakers before they’re released to the public
Sneakers are a perfect example of supply and demand
I’ll speak about supply first
You can’t resell sneakers that have unlimited supply, because people can buy them from stores for retail
Retail means the price a store sells them for
Target sneakers with limited supply
I’ll speak about supply first
You can’t resell sneakers that have unlimited supply, because people can buy them from stores for retail
Retail means the price a store sells them for
Target sneakers with limited supply
Let’s say 1000 pairs were released
You have a supply of 1000 pairs that are new (DS - dead stock)
But supply continues to fall as people buy them for personal use and they’re no longer DS
Of the 1000, let’s say 200 are worn
You now only have 800 DS pairs
You have a supply of 1000 pairs that are new (DS - dead stock)
But supply continues to fall as people buy them for personal use and they’re no longer DS
Of the 1000, let’s say 200 are worn
You now only have 800 DS pairs
Less supply available means price (usually) goes up
But on the topic of supply, you have to be careful about restocks
This brings more supply back to the market
I use these 6 apps to keep track of the latest sneaker news
There will be more talk of StockX later
But on the topic of supply, you have to be careful about restocks
This brings more supply back to the market
I use these 6 apps to keep track of the latest sneaker news
There will be more talk of StockX later
Demand is, well, how much demand there is for the sneaker
(Okay, that’s simplifying)
Demand is harder to predict, because taste and fashion always change
My bread and butter are Jordan’s (especially Jordan 1), Nike Dunks, Yeezy and any special collaborations
(Okay, that’s simplifying)
Demand is harder to predict, because taste and fashion always change
My bread and butter are Jordan’s (especially Jordan 1), Nike Dunks, Yeezy and any special collaborations
Demand can be as simple as it’s a nice colorway, so people will buy it
Dunks, Jordan 1 and Yeezys are fashionable now
It could be because a new release looks like a previous and more expensive release
Travis Scott Jordan 1 and Jordan 1 Mocha is a great example of this
Dunks, Jordan 1 and Yeezys are fashionable now
It could be because a new release looks like a previous and more expensive release
Travis Scott Jordan 1 and Jordan 1 Mocha is a great example of this
You can’t just pluck your resell prices out of thin air: this is where StockX plays a part
You can use StockX to check the price
You can see Bids (price people want to pay) and Asks (price people want to sell)
You can also see a graph of the price of the sneaker over time
You can use StockX to check the price
You can see Bids (price people want to pay) and Asks (price people want to sell)
You can also see a graph of the price of the sneaker over time
You can also use StockX to make predictions about where you think price will go
Let’s say there was a new Nike x Off White Dunk releasing
I could check the price of a previous release, compare the supply and perhaps the colorway and make predictions off that
Let’s say there was a new Nike x Off White Dunk releasing
I could check the price of a previous release, compare the supply and perhaps the colorway and make predictions off that
Getting pairs: this is the part most people care about
Do I get most of my pairs through raffles? No
Do I get most of my pairs in store? No
Do I get most of my pairs through backdooring? No
I get most of my pairs from ... resellers
But combine all methods for best results
Do I get most of my pairs through raffles? No
Do I get most of my pairs in store? No
Do I get most of my pairs through backdooring? No
I get most of my pairs from ... resellers
But combine all methods for best results
I’ll start with raffles
These are a lottery and with odds of a lottery, simple
Can bots and cook groups help your chances with these? Yes
Are they necessary? Absolutely not
I don’t use either
Best bet is to get friends and family to enter too, but raffles aren’t effective
These are a lottery and with odds of a lottery, simple
Can bots and cook groups help your chances with these? Yes
Are they necessary? Absolutely not
I don’t use either
Best bet is to get friends and family to enter too, but raffles aren’t effective
In store is what you should aim for
This gets max profits because you pay retail and I’ve always sold for profit this way
Use the apps from the previous tweet to find out when and where pairs are dropping
Take friends, as you’re usually limited to one pair per person
This gets max profits because you pay retail and I’ve always sold for profit this way
Use the apps from the previous tweet to find out when and where pairs are dropping
Take friends, as you’re usually limited to one pair per person
Another method I use is paying people I know to queue for me
Some days, I’m just too lazy
Don’t pay too much, because that’ll eat into your profits
In store buying also ties in with backdooring
This is when a store will sell you the pair before they sell to the public
Some days, I’m just too lazy
Don’t pay too much, because that’ll eat into your profits
In store buying also ties in with backdooring
This is when a store will sell you the pair before they sell to the public
Target the sneaker stores, but a special trick is independent streetwear stores
It’s cheesy, but wear your best sneakers and give staff the idea you love sneakers
You don’t have to, but it helps when you buy something
I then always ask “is there a contact list for drops?”
It’s cheesy, but wear your best sneakers and give staff the idea you love sneakers
You don’t have to, but it helps when you buy something
I then always ask “is there a contact list for drops?”
You may have to pay for these exclusive lists, which is often worth it, or you can get it for free
I get messages whenever there’s new drops in store and get pairs reserved for me
It’s bad, but many independent stores rig raffles in favour of their friends, so be nice to them
I get messages whenever there’s new drops in store and get pairs reserved for me
It’s bad, but many independent stores rig raffles in favour of their friends, so be nice to them
Your network is your net worth rings true in sneaker selling
As I said, most of my pairs come from resellers
But you have to get out there and build a rep
And it needs to be a good rep
For UK people, The Basement is a good Facebook group to start in
Create social media pages
As I said, most of my pairs come from resellers
But you have to get out there and build a rep
And it needs to be a good rep
For UK people, The Basement is a good Facebook group to start in
Create social media pages
99% of my sales are through WhatsApp
Start selling on Facebook groups and ask around to see if there’s any reseller groups on WhatsApp you can join
Sneaker reselling is very much a community like any other, so make friends and people will bring you in
Start selling on Facebook groups and ask around to see if there’s any reseller groups on WhatsApp you can join
Sneaker reselling is very much a community like any other, so make friends and people will bring you in
When you’re in these BST groups, you’ll see people putting WTB and WTS
Always use StockX as a reference as to how much you should pay or how much you should sell
StockX is convenient for reselling, but chops into your money more
It can be a good place for you to start though
Always use StockX as a reference as to how much you should pay or how much you should sell
StockX is convenient for reselling, but chops into your money more
It can be a good place for you to start though
Never ever ever ever sell fakes
This is sneaker reselling suicide
You will get banned from groups and people will not buy from you and you’ll struggle to start again
It takes experience to spot a fake
You can use the CheckCheck app for now and watch YouTube tutorials
This is sneaker reselling suicide
You will get banned from groups and people will not buy from you and you’ll struggle to start again
It takes experience to spot a fake
You can use the CheckCheck app for now and watch YouTube tutorials
I’m in the UAE and I’m aware that sneaker reselling is different here than the UK
I’d recommend posting pairs that you’re selling rather than meeting in person
Use PayPal when buying from people you don’t know so you’re protected if they’re fakes
I’d recommend posting pairs that you’re selling rather than meeting in person
Use PayPal when buying from people you don’t know so you’re protected if they’re fakes
Bonus: there’s a lot of arbitrage that exists in sneaker selling when international
In the UAE, there are no Supreme stores
I can make big money bringing Supreme over here
I have a supplier in the Philippines where retail is much cheaper
UK people wear Air Max, UAE don’t
In the UAE, there are no Supreme stores
I can make big money bringing Supreme over here
I have a supplier in the Philippines where retail is much cheaper
UK people wear Air Max, UAE don’t
Point is, as you grow, you may notice trends that exist in other countries that don’t exist where you are
This comes down to the networking part again: make friends with many people and those living in other countries
It opens up price opportunities to take advantage of
This comes down to the networking part again: make friends with many people and those living in other countries
It opens up price opportunities to take advantage of
The best way to get good at all of this is to start
No amount of Twitter threads will give you the same experience as just doing it and learning trends for yourself and networking with others
Start small and begin with buying pairs for retail: it’s almost risk-free
No amount of Twitter threads will give you the same experience as just doing it and learning trends for yourself and networking with others
Start small and begin with buying pairs for retail: it’s almost risk-free
It’s cliche but you should genuinely be interested in sneakers, not just money
You will spend a lot of time researching and keeping up with news so you need to enjoy what you’re doing
It’s difficult to cover everything in this thread, so feel free to ask me questions
You will spend a lot of time researching and keeping up with news so you need to enjoy what you’re doing
It’s difficult to cover everything in this thread, so feel free to ask me questions
