January 22, 2020 - Clothing, Accessories and Handbags
At fourteen years old, the young man had a collection of 200 pairs of designer sneakers that were worth around $30,000.
Two years later, they opened Sneaker Pawn USA.
Now you may be thinking if the shoes are worth that much, isn’t it better to sell them yourself?
The fact is, selling things is quite a lot of work. For one thing, when you post an advertisement online, you’re opening yourself up to bad offers and people who are just wasting your time. Even when you do find a buyer, setting up a time and place to meet can be complicated.
The advantage of a pawn shop is that people go there to buy something. So, what do you need to know so that you can make some quick cash from your second-hand sneakers?
This is the first question many people have and the answer, frustratingly, is that it depends on a few factors. You can sell your shoes to a pawn shop as long as there is a reason that people would want to buy them at an inflated price.
You wouldn’t buy a pair of shoes from a pawn shop at five times their retail value if you could pick them up from the mall and pawn shops are aware of this. However, there are specific things that they are looking for.
One thing that is important is that the shoes are in good condition. That is just one part of the equation. Besides being in good condition, they also need to be a unique design that has a high demand. Shoes that were limited at their time of release are the best option for what pawn shops want to buy.
The first tip is that you need to clean your shoes. You certainly cannot sell shoes that are smelly and worn, but even shoes that are new need to be cleaned.
When shoes and other items are stored for a long time, they can take on a musty smell. Anything off-putting like this will lead to you being offered a lower amount for your shoes.
Another tip is to research your shoes beforehand so that you know everything about them. Besides the fact that you bought them originally, so you know when they were released, you can help build up their value by showing other listings for the same pair.
The research is to find if there are celebrities or even Instagram influencers wearing your shoes because this will help increase their value.
Finally, if you can, you should bring the box when you’re trying to sell your old shoes. Having the box adds a lot of value to the product. If you don’t have it, however, at least bring the receipt from when you purchased the shoes.
The most important thing to remember when you’re looking to earn some quick cash by selling used shoes and other secondhand goods is not to get your hopes up. Remember that they may not be willing to offer you as much money as you would like.
Besides shoes, many things around the house will help you earn money quickly. Check out our archives to see some of the items we love seeing walk in the door.
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles