For those that purchased my paid blog regarding the 50 pairs of Vapormax OFF White that I hoarded 5 months ago, I figured it’ll be a good idea to do a quick recap to see how this deal worked out in terms of profit and loss after time. If you have purchased the blog you would know exactly where and how I got them and how much I paid so I won’t reveal it here for the sake of those that paid to ward off those that are looking to leech off the free info. But for those that haven’t purchased the blog and are reading this…for the record…this was purchased entirely WITHOUT A PLUG…I simply bought this on the open market at resell price. What does this mean? This means you could have also purchased them before I got the opportunity to do so, but it just so happened I was at the right place at the right time. If you would like to purchase the blog to prep yourself for the below info…the link is here:
Hindsight is 20/20…yes I definitely agree… but when you’re in the situation 5 months ago trying to rationalize whether or not I should “invest” in 50 pairs of the same shoe at resell prices…it’s not always easy. Had it been 50 pairs at retail it would have been a no brainer, but at resell you always run the risk of being stuck with pairs that could either go nowhere in re-sell price or even lose money. Regardless, going strictly by the motto of scared money don’t make money of course I made the leap. Why I was so hesitant to purchase was mainly due to the fact that size 7.5 US and under made up about 20 pairs of the entire 50 pair lot. My business focus is mainly men’s shoes and selling anything under a size 8 is definitely not my niche and I was worried that these pairs in smaller sizes would be heavy deadweight. As expected I held these pairs for almost 4 months offering them on the website AND offering them as gift card member prizes, but none of the smaller sizes moved because most people wanted size 8.5 and up. Then one random day I stumbled across StockX from a selling aspect after buying a few pairs of Parra Spiridons. I noticed a huge price anomaly in which smaller sizes from 6-7.5 were going for a premium price… I was like…Damn! Maybe I should give this a try and the rest was history. As much as I don’t want to admit that I used a competitor platform to sell, but I can’t deny the fact that it gave me access to a lot more buyers that I couldn’t get to…especially in sizes I can’t move.
So how did I do from a profit standpoint? At first I was selling them for $649 by just simply matching the highest bid, but then I realized there aren’t that many pairs out there for a low price so I started experimenting with the ask price, making bids match me and surprisingly pairs started selling. I had a pair of size 6 US go for as high as $740. Of course selling on StockX would mean incurring a 9% fee, but at the end of the day I was still profiting. So far I’ve sold about 12 pairs on StockX and pocketed about $2,100 in profit. I’ve made about $960 from 8 pairs from just straight re-selling on my own network. Right now the average trending price is about $600 and with 30 pairs left in the vault that still needs to be sold, I’m projected to make about $5,360 in profit assuming I sold at $600 a pop the remaining 30 pairs. When I refer to profit, that means net profit which means I already deducted all costs of shipping and payment transaction fees.
So how good was this deal? The total profit is expected at $8,420 CAD ($3,060 in realized and $5,360 in unrealized). The total cost of buying all 50 pairs was approximately $26K. If my math is correct, that’s about a 32% return in 5 months. If we were to annualize this number to put returns in perspective of comparing apples to apples with all financial products out there, that’s approximately 76.8% annualized. So is that a good return…? Well I mean a 10% annual return on the stock market is considered REALLY good, so I think 7 times that is not bad, right? Of course, I had to put in more work than just clicking a button to buy or sell shares, but I think this was hell of a deal.
What did I learn? I learned A LOT from doing this deal. I learned that this world is a f*CKing BIG place with many buyers out there that I don’t have access to. More importantly I learned to continue to take good calculated risk even though it puts me out of my comfort zone. The best work is done when you are out of your comfort zone because it forces you to learn and adapt quicker than ever compared to what I’m already good at doing. It wasn’t easy dropping $26k on 50 pairs of shoes not knowing where it would end up, but if I’m not willing to take the risk and prosper….someone more hungry out there is more willing to do so. The best part was I bought these without a PLUG…I simply just randomly bought a few pairs (*see $6.50 blog for details) and was simply asked by the seller whether or not I wanted to take an additional 50 pairs with it…LOL. The beauty is ANYONE can do it…Yes, you could say I got a bit lucky by being in the right place at the right time…but I always believe…If you want to be lucky, you got to first put yourself in the position TO BE Lucky FIRST. What I mean by that is even if someone offered you 50 pairs today at the price I was offered and you didn’t have $26k lying around, you simply can’t capitalize on the opportunity. Now on to the next deal…. 😊