Do you have a stack of old shoes taking up space in your closet, why not turn them into a source of income? There are various ways to make money from your pre-loved sneakers, whether they're gently worn or in great condition. In this blog post, we'll explore 5 practical ideas to help you make money on your old sneakers earn some extra cash.
1. Don't mind Waiting? Sell Them On Online Marketplaces
If you live in the 21st century you should be no stranger to online marketplaces, it's probably one of the best thing that the internet have brought us. It has made buying and selling things old things around the house extremely easy and safe for the most part (I will go into this later on how to be safe when selling on these websites) .
Now eventhough there are multiple marketplaces to choose from and it can be confusing which one to choose from there are 2 from my experience that are superior to any other ones for selling old shoes: Ebay and Poshmark
If you're selling men's sneakers: Choose Ebay
Ebay is the oldest selling platform and they are currently the biggest one with the most active daily users and buyers out of any other marketplaces just after Amazon. and they have been going all in with their sneaker program in the past 2 years ( I'm writting this in August 2023) to attract sneakers buyers and seller to transact on their platforms.
From what I have observe they have been able to attract alot more male sneakers buyers than female buyers therefore selling men's sneakers on ebay will ensure your sneakers sell in the shortest amount of time with the most amount of money comapre to other marketplaces (speaking from my experience selling on Ebay for 3 years)
They also offer authentication service for certain brands and sellings if your sneaker is elegible for this service Shipping Fee will be FREE to you because the buyer will have to cover it.
Fees: For sneakers that sell over $100 the fee will be 8% and under that the fee will be 12.55%
If you are selling Women's or Kid's Sneakers and want an easy selling process: Choose Poshmark
Poshmark is a free app and website that makes it easy to list and sell your used sneakers fast. Out of all the marketplaces that I have used and trust me, I have used pretty much all the online marketplaces out there, Poshmark definitely has the easiest listing process as well as the shipping process once your sneakers have sold.
The reason I recommend selling women's and kid's sneakers on here is because most of Poshmark users are female with abouts 64% of its users are female so there will be alot of mom's, girl's, even grandama's looking for affordable shoes for their kids, grandkids or themselves. I have sold plenty of women's sneakers on here within only a week so I can tell you that it definitely works as long as you take good photos and have a good price
Fee: Fee to Poshmark once the sale is made — $2.95 on sales under $15 and 20% on sales over $15. Once the buyer receives your package, Poshmark will credit your account within three days unless there’s a problem.
Yes, I know what you're thinking why is the fee so high! most other platforms only charge 10%-15% and even though I don't work for Poshmark and can't tell you why this is the case I can tell you that eventhough it's high they make it super easy for you as the seller to sell the item compare to other platforms
2. Need Instant Cash? Sell them to Your Local Second-Hand Shops
Eventhough selling on online marketplaces will ensure you get the most money for your sneakers since you're selling it directly an individual. Selling your sneakers to local second-shop or resale shops might be a better option if you're looking for instant cash and quick sale.
How these places work is they will offer you a certain amount for your sneakers that they can buy off of you right at the moment and they will put them in the store and resell them for a profit , and because they have to make a profit they will usually not offer you a best price for it compare to if you sell it yourself
But the pros to this is that if you have a pile of sneakers that is just taking up space in your closet that you're not wearing anyways, this is a great way to get rid of your old sneakers and get some cash for it instead of just throw it away or donate it.
In addition, you do not have to do the hassle of the listing process when selling it yourself like taking pictures, packing and shipping and deal with the customer service.
You just simply bring you sneakers to the store and they will examine the condition, brands and give you a price for it right then and there.
3. Cosign It With Online or Local Consignment Shops If You Have a Higher Value Sneakers
If you're not familiar with consignment, it's basically when you give a shop or person your items and their job is to find a buyer for it and once they sold the item for you they will give you a portion of the sale amount and this amount is usually will be discussed before hand.
In this case when you consign your sneakers to a shop they will have their own policy of what the split going to be, For example, if the split is 50/50 then it mean once your item sold for $100 you will get $50 and they will get $50 and usually they will cut a check for you on it the following month.
Consigning your item is a middle ground in terms of what you can get for it and the effore you put in between selling it your self and selling it to a second hand store because you don't have to put much work in selling it yourself but you still get a decent amount of money for the item.
The downside with consigning is that most local consigning shop will only take in high value or luxury items in certain conditions so if you have just a regular pair of nike sneakers they will most likely not take it but if your have a pair of Jordan that is in excellent condition that is worth $150 then the chances of them taking it is much higher. Although recently their have been some online consigning stores that is taking consignment on lower value items like Thredup
4. Partner Up With A Reseller They Will Help You Sell Your Sneakers with Flyp
Flyp is a new start up that connect individuals with a reseller so the reseller could use their knowledge and expertise to help you sell your item on different marketplaces without you having to do it yourself. Here is how it works according to their website
1. Take photos of your clothes, shoes, and handbags to create a "Lot"
2. Get matched with a Pro Seller and review their price estimates and commission.
3. Partner with your Pro and send them your lot using Flyp's shipping label. You're always covered by the Flyp Protection Policy
4. Your Pro will receive your items and do all the selling work for you. You will get paid as soon as your Pro receives the funds for each individual sale.
The pros to this is that you won't have to go through all the hassle of listing and shipping the item yourselves which will save alot of time and effort on your end.
The cons is similar to the consignment option where you will not be able to get the most money for you items since you have to spit a sales amount with your reseller
5. If Your Sneaker are Too Worn or Are Unbranded - Sell It To A Sneaker Recycling Company
A sneaker recycling company plays a pivotal role in promoting sustainable fashion and reducing environmental impact. These companies specialize in collecting, processing, and repurposing old and worn-out sneakers to divert them from landfills. They use technologies to break down sneakers into their constituent materials, These materials are then recycled and transformed into new products or used for various purposes, such as sports surfaces or insulation materials.
To sell your old shoes to these recycling companies, you typically need to follow a process.
First, you visit their website or and fill out a form. Once the form is received by them, you can either ship the sneakers to them (shipping is usually FREE) or drop them off at designated locations
Once they receive your sneakers they will pay you out or not at all depends on your sneakers condition and brands.
By doing this you are helping saving the environment by help reducing the amount of shoes ends up in the landfill. It' a great way to get rid of alot of sneakers at once and still get some cash for it
the cons to this though is that is pretty unpredictable how much you will get paid out for since you won't know until they receive your sneakers.
Here are a list of some Sneaker Recycling Companies
6. Bonus: Sell Your Gently Worn Sneakers To Us
We will pay you for your gently worn sneakers. Our purpose is to give as many shoes a second chance as possible by putting it into the hands of people who want or need them. So yes we are technically a resale company. Decide to sell your shoes to us we will clean the shoes up and make sure it's in the best condition as it can be to be worn by a another person and we will sell them in various different way with an affordable price so that people that want that particular shoes but do not how the budget for a brand new pair can still afford to get it for a fraction of the price thanks to you!
You will get the most money for your old sneakers. We try to offer you the best price we can for your old sneakers and we will let you know what we can pay you after you fill out our form and you can decide if you want to sell it to us or not
If you do accept our offer, we will send you a FREE shipping label and all you have to do is bag or box it up and ship it to us
Once we receive it we will pay you out within 24-48 hours