How to find the best shoes
To invest in sneakers, you first need to find shoes to sell. Shoes aren’t hard to find, but shoes that might sell for a profit are harder to come by.
You can purchase new shoes in retail stores or online. Some companies have even created mobile apps to manage releases of new shoes. Nike created the SNKRS app, which allows you to get information on upcoming releases and set up notifications when a sneaker sale drops. You can then purchase shoes directly through the mobile app.
Unfortunately, buying sneakers through these mobile apps involves a lot of luck. The competition to purchase them first is fierce and often leaves many buyers empty-handed. Shoe retailers also utilize raffles and social media contests to determine who gets a chance to buy exclusive sneaker releases. Again, there’s luck involved to land a spot in line to purchase exclusive sneakers. You can buy sneakers at secondary sneaker resale websites, but you’ll pay a premium, cutting into potential profits.
The good news is these aren’t the only places to look for sneakers to resell. Stores like TJ Maxx, Marshalls, and retail outlet stores often carry quality shoes at discounted prices. Also, check the clearance racks at department stores, shoe stores, and other retail locations. Thrift stores could be another option for finding hidden gems since people looking to turn old stuff into extra cash might not realize exactly what they own.
An easier way to invest in sneakers
There is another way to invest in sneakers without spending time buying and selling online. Otis is an alternative asset investment company that allows individuals to invest in cultural items like collectibles, art, and sneakers.1
Sneakers may seem out of place in the investing world, but Otis isn’t dealing with shoes you would find at your local sporting goods store. One of its current assets is the “Shattered Backboard” AJ1 worn by Michael Jordan during an exhibition game in Italy in 1985. During the game, Michael Jordan shattered the backboard while making a dunk. The shoes still have a piece of the backboard glass embedded into the sole. This particular pair of sneakers are the most expensive shoes ever sold on the public market.