If you're tired of investing in stocks and cryptocurrency and watching your money slowly disappear it's time to invest in something different: sneakers. That's right sneakers. Within this article, we'll go over all the ins and out's of investing in sneakers to turn a small investment into some major profits. We'll also cover the pros and cons of investing in the sneaker market and how to get over any potential con you might run into.
How to get started:
The sneaker resale marketplace is estimated to reach $25-$40 billion dollars by 2030. This means the sneakers you start investing in today have a huge chance to pay out anywhere from 2-10 times your initial investment. Now, the first question you might ask is how do I get started. We suggest following Instagram pages such as Yankeekicks to give you the insider scoop on what is upcoming and what is currently popular in the market. Sneakers such as Nike Dunks and Nike SB Dunk's back in 2012 only cost about $75-$100 and are now currently selling in the $1000 (depending on the sneakers). In our online marketplace, we have certain collections we have selected that we see to double or triple your money in time.
Pros & Cons:
As with any investment, there will always be pros and cons when you invest. The biggest pro you'll find with sneaker investing is the return on your sneakers within time. These returns tend to be much higher the more you wait. Some people also become full-time resellers opting for reselling sneakers and making less profit per shoe but selling higher volume. The ease of finding sneakers (low-hype) is often available at malls or local online shops. Once you start the investment journey your love for shoes might take over! The market tends to be highly competitive but there are always walk-arounds if you use the best-selling platforms such as our consignment system. Grabbing the latest releases (most talked about) may also be difficult but this should not stop you from buying them at a slightly higher resale price in order to invest or hold them to sell at a later time.
How to resell your shoes:
Once you start buying sneakers to sell the next question that comes up is often "Where can I sell my sneakers to get the best return?". We suggest using the Yankeekicks consignment platform as we tend to have much higher traffic of sneaker collectors ranging from celebrities to everyday tourists visiting Miami Beach. It is always important to have your sneakers authenticated before you purchase any sneaker and sell them through a service that authenticates your sneakers to give buyers ease of mind.
What sneakers should I get started with?
Check out our Investing Collection here! Yankeekicks himself hand-picked the sneakers found in the collection to help you get started with investing. These sneakers are predicted to go up in price in the next couple of years and could yield huge returns.
