Sneaker Buying and Selling Insights

Sep 7, 2024

Lecture Notes on Sneaker Buying and Selling

Overview

  • The transcript depicts a conversation about buying and selling sneakers, focusing on negotiations and market value.
  • Highlights the challenges faced in pricing and the importance of understanding market trends.

Key Points

Negotiation Tactics

  • Initial Offers:

    • Seller initially offers sneakers at high prices (e.g., 550 for a pair).
    • Buyer counters with significantly lower offers, emphasizing cash deals.

  • Counter Offers:

    • Continuous back-and-forth with offers fluctuating (e.g., 420 cash, 450, then 460).
    • Importance of knowing the lowest price one is willing to accept.

  • Use of Terms:

    • Terms like "payout" and "credit" are discussed during negotiations.

Market Value Understanding

  • Pricing Reference:

    • The buyer checks the market for sneaker prices (e.g., "payout probably L, let check Market").
    • Emphasis on knowing sneaker values before negotiating.

  • Assessing Demand:

    • Specific sizes mentioned (e.g., "7 and half too that's a brick size nobody wants that size").
    • Buyer evaluates demand based on size and current market trends.

Emotional Dynamics

  • Tensions in Negotiation:

    • Frustration evident when prices don't meet expectations (e.g., "you're killing me bro").
    • Emotional responses can affect negotiation outcomes.

  • Respect in Transactions:

    • Importance of maintaining respect and professionalism during transactions, even when disagreements arise.

Transaction Examples

  • Typical Prices Discussed:

    • Various sneakers offered at prices ranging from 160 to over 550.
    • Cash offers and store credit frequently debated (e.g., "I'll do 450, sorry no just $5").

  • Final Agreements:

    • Transactions conclude with cash offers (e.g., "I'll do 875 cash").
    • Importance of clarity on payment method (cash vs. credit).

Final Thoughts

  • Market Awareness:

    • Understanding sneaker trends is crucial for successful buying and selling.
    • Negotiation requires patience, knowledge, and respect to reach fair agreements.

  • Overall Interaction:

    • The conversation highlights real-world dynamics of sneaker flipping and the integral role of negotiation in commerce.