If you’ve been frustrated with the stock market crash or the high price of Bitcoin, there might be another investment you should look at. Or perhaps, look down to.
Sneakers are a great investment asset and now’s the best time to start building your sneaker collection. But how do you get started? How do you find the best sneakers to build a formidable collection?
This guide is here to help you get your feet off the ground!
Here’s how to go about starting sneaker collections:
Look for the Popular Sneaker Brands
The first step is to look at the most popular sneaker brands and the popular models among them.
For example, if you’re looking at New Balance, you’ve got to buy New Balance 550 for your collection. If you want Nike sneakers, you’ve got to have a few pairs of Air Force Ones.
If you’re on a budget, start with one brand at a time. Get at least 4 different pairs within one brand before moving on to other styles for sneakers.
Do It for the Culture
Let’s say there’s a $600 pair of sneakers and another pair for just $100. You want to buy the former and ignore the latter, correct?
Well, not necessarily. When buying sneakers you have to focus on the cultural significance and not always chase the latest trends. Doing so only brings you short-term wins and no long-term success.
Focus on buying the sneakers that have made a cultural impact. For example, Converse might come out with a stylish new sneaker tomorrow. But the old-school Chuck Taylors still reign supreme.
Likewise, while Yeezy’s have their place, they’re not, so far, a replacement for Air Jordan 1’s.
Look at the sneaker models that have been worn by celebrities in the past and today. These are the ones that have longevity and are the ones you want to focus your investments on.
Keep an Eye on Release Dates
Another rule for sneaker collectors is to always keep up with release dates for new models. This is one of the best ways to get a great deal when comparing sneaker prices.
Many great sneakers are released on a limited-edition basis. As a result, you’ll need to keep abreast of upcoming releases. You want to be able to buy the sneakers ahead of time.
The main reason for this is so that you can “flip” them at a later stage. This means that you’ll wait for the supply to run out so that the demand increases.
When the demand increases, so does the price. You’ll sell the sneakers for a much higher price. You can also hold on to these sneakers for several years and then sell them if you prefer.
Selling Sneakers
Once you’ve developed a decent collection of sneakers, you’ll want to start selling a few. After all, this is why you’re investing in sneakers — to earn a great profit.
You have to first figure out where you’ll sell your sneakers. Let’s look at a few options to turn a great profit.
Direct Selling
The easiest way to sell sneakers is through your direct connections. You should reach out to your network to see if anyone’s interested in buying your sneakers.
You can get paid in cash or through an electronic payment system. You can arrange to meet your buyer in person. In this scenario, it’s best to only sell to people whom you trust. Never give a pair of sneakers on credit. You must always get paid upfront.
If you have to sell to a stranger, remember to meet them in a public place. Unfortunately, sneaker collecting can be a dangerous obsession and strangers might be willing to steal from you!
Online Marketplace
The next step is to sell your sneakers via an online marketplace. Poshmark and eBay are among the most popular options.
With these options, you’ll have to take professional photos of your sneakers. Upload them to the platform and then promote them via social media.
You’ll receive your payment in advance through a payment processor. The marketplace platform will act as an escrow and hold on to your payment.
Once your customer receives the sneakers the payment gets finalized. This is the most efficient way to sell your sneakers and reach the widest possible customer base.
With this option, however, you want to ensure you ship your sneakers properly. Make sure you get them insured and use certified mail. You want to be able to track your shipment. You also have to maintain your sneakers well. Even if they have the slightest damage, you can expect a request for a refund.
Best Practices for Starting Sneaker Collections
Now let’s have a few best practices for starting sneaker collections. Use this as a guide to help you amass the best sneaker collection you can!
You want to always keep the shoe boxes. Often, these are the easiest ways to protect sneakers from damage. When you sell sneakers, many buyers prefer to have the original shoe box along with the sneakers.
Buy professional shoe polish from the brand itself. If you wear the sneakers, these shoe polishes are the best method to keep them clean. As a bonus, you can always include free shoe polish when you sell your sneakers.
When collecting sneakers always stay on top of the trends but don’t be afraid to venture out on occasion. It might be that LeBron James releases a more popular sneaker this year. But even if most consumers ignore Nikola Jokić’s sneaker release, it might be a great investment for you.
Lastly, as you amass more sneakers you want to consider getting them insured. This helps you receive financial compensation in case of theft or loss.
Get Your Sneakers
Now you know the rules for starting sneaker collections and how you can profit from your collection.
Your first step is to look for the best and most popular sneaker brands. Research the best models among these brands and start your collection.
Make sure you focus on sneakers that have been popular for several decades. You can choose to sell your sneakers directly or via an online marketplace. Follow our best practices for best practices.
If you’d like to kick back and learn more, you can find it on our website!
