It’s no secret that reselling has become one
of the hottest ways to make money. For some, this is a side hustle that brings
a little extra cash in every month, while for others, it’s a full-time job.
Between sneakers, vintage clothing, and collectibles, you can pretty much find
every item under the sun available for resell (including reselling hotels–hello,
Hoken!).
But it wasn’t always this way. In fact, reselling didn’t begin until the middle of the 20th century, when hobbyists began taking an interest in trade cards. The history of the evolution of reselling is quite an interesting one. That’s why we’re breaking it down to show you how we got to where we are today and what we see for the future.
The Evolution of Reselling
Trading Cards
When you think of
trading cards, you probably think of baseball or Pokémon. But these cards date
all the way back to the 1600s. Trading cards were first created in the form of
“visiting cards” during the 17th century in Europe, primarily as a
way to announce one’s arrival at a social gathering. These cards were decorated
with art, coats of arms, and other designs. As printing technology improved,
the cards began to feature portraits of notable figures and other popular
designs.
However, the popularity of card didn’t really
start picking up until the 1800s The use of trading cards as a means of
advertising started in the mid-1800s with the inclusion of cards in packs of
cigarettes. These early cards often featured actresses, sports stars, and other
popular figures. By the early 1900s, sports cards had become more popular and
were being produced by various companies.
During World War I and World War II, the
production of trading cards slowed down significantly as resources were diverted
towards the war effort. However, the late 1940s saw a resurgence in the
production of cards, particularly in the sports industry. Companies such as
Topps and Bowman began producing baseball cards, which quickly became one of
the most popular collectibles in the world.
In addition to sports cards, trading cards
featuring popular characters from comics, movies, and video games have also
become popular in recent years. The rise of online marketplaces has made it
easier than ever for collectors to buy and sell cards from all over the world.
Despite occasional market slowdowns, the
popularity of trading cards continues to endure. Fans of all ages continue to
collect cards featuring their favorite sports stars, characters, and other
popular figures. With new designs and collections being released regularly, the
world of trading cards remains as vibrant and exciting as ever.
The Rise of eBay
eBay is arguably still the biggest reselling platform out there. With everything from new clothes and the hottest tech to vintage clothing and antiques, it’s no surprise that the site is beloved by many. And because it was the first of its kind–founded in 1995–it quickly became a household name.
The internet was a game-changer for resellers,
and eBay gave people from all over the world the ability to expand their
markets exponentially and enable resale at a much larger scale. In June 1996
(less than a year after being created), there was already $7.2 million worth of
goods sold. By the second half of 1997, a millionth item was sold. Needless to
say, the site picked up steam extremely quickly. Now the company is worth over
$22 billion.
In addition to being a popular platform for reselling items, eBay has also become a hub for small businesses and entrepreneurs to sell their products. Many individuals have started their own successful businesses on eBay, using it as a launching pad for their reselling ventures.
Over the years, eBay has faced competition
from other reselling platforms such as Amazon and Etsy, but it remains a
dominant player in the industry. The site has also expanded its offerings
beyond just physical goods, now allowing for the sale of services and digital
products as well.
Despite its continued success, eBay has not
been without controversy. In recent years, the site has faced criticism for its
handling of counterfeit items and fraudulent sellers. However, the company has
taken steps to address these issues and maintain the trust of its users.
Camping for iPhones
Now that there are
over 1.5 billion active iPhone users worldwide, it’s not hard to see why
camping out for iPhones became so popular when the phone first came out. It’s
safe to say that Apple could’ve never guessed that their phones would create
such a buzz, and keeping up with the initial demand was pretty much impossible.
But it didn’t matter to them because people proved that they were doing
whatever needed to be done to get their hands on one of the hottest pieces of
technology.
When the iPhone first came out in 2007, people
were camping out for days in front of Apple stores, just to be one of the first
to get their hands on one. The hype surrounding the iPhone release was so big
that it was covered by major news outlets worldwide. Apple’s launch of the
iPhone was a major milestone in the history of smartphones. It changed the way
people thought about mobile phones and revolutionized the tech industry.
As demand for the iPhone grew, so did the
number of resellers trying to profit from the craze. Scalpers would purchase as
many iPhones as they could and then resell them for a higher price to those who
were unable to get one. This led to a rise in the number of people trying to
buy iPhones, even if they didn’t need one for personal use. This trend of
reselling hot-ticket items continues to this day and has extended to other
products such as sneakers and limited-edition merchandise.
Resellers began seeing this as an arbitrage
opportunity. If they could get their hands on multiple phones, why not sell
them to those who weren’t so lucky? Although Apple has since increased the
supply to match the demand, this era shifted the way people got their hands on
inventory to resell–which we now see with sneakers, but we’ll get to that in a
second.
Pawn Stars and Storage Wars
People are often influenced by the media, so
when Pawn Stars (first aired in 2009) and Storage Wars (first aired in 2010)
began, it’s no surprise that people became obsessed with the ideas of flipping
and reselling. Both shows showcase sales that, oftentimes seem like a dud,
bring resellers hundreds, if not thousands, of dollars. This idea of the
element of surprise tied in with large profits brought in millions of viewers
and put reselling front and center in mainstream culture.
The popularity of these shows inspired a wave
of new resellers to try their hand at flipping items for profit. They saw it as
an easy way to make money, but many quickly found out that it wasn’t as simple
as it looked on TV. While there are definitely valuable items out there waiting
to be discovered, it takes a lot of knowledge and research to be successful in
the reselling game. It’s not just about finding something that looks cool, but
knowing its true value and finding the right buyer for it. Nonetheless, the
influence of these shows can still be seen today with the rise of social media
reselling influencers and the continued popularity of reselling platforms like
eBay and Poshmark.
Sneakers
If you’ve ever tried purchasing a pair of
exclusive sneakers, you may be familiar with just how hard it can be to snag a
pair. Thanks to Michael Jordan and the creation of Air Jordans, we’ve now seen
multiple big-name brands create limited-edition lines. And if you’re not on the
site hours before they go live, chances are you won’t get a pair. The resellers
will probably get there first.
The significant surge in interest between 2010
and 2020 created a world where “drops” are culturally accepted–even sought
after. The first come, first serve market has only made the sneakers that much
more appealing to many, creating a worldwide sneaker market valued at almost
$100 billion. What began on eBay has quickly spread to sites like Grailed,
StockX, and KLEKT. The combination of fashion and profits spread, with
resellers picking up vintage clothing on top of the footwear. And with more and
more gen-z’s and millennials opting for pre-worn clothing, it doesn’t seem like
this trend is going anywhere.
The demand for limited edition sneakers has
given rise to a sneakerhead culture, where enthusiasts collect, trade, and
showcase their exclusive collections. This subculture has brought forth many
sneaker events, conventions, and even documentaries that shed light on the
sneaker world. The sneaker industry has become so popular that it has attracted
collaborations with popular artists, musicians, and even other brands. The collaboration
has resulted in some of the most iconic and valuable sneakers in the market.
With new drops and collaborations happening frequently, the sneaker industry
continues to grow, with more people getting into the reselling game. However,
the exclusivity and high prices of limited-edition sneakers have led to
controversy, with some accusing the industry of being elitist and exclusionary.
Hotels
We’ve seen trading cards, auction platforms,
and reselling everything from tech to clothing. So what’s next in the reselling
world? Hotels. Thanks to sites like Hoken, you can now merge experiences with
profitability. And the best part? You don’t have to worry about holding
inventory, shipping costs, or verification concerns. Book a hotel at a low
price (especially in big cities during large events) and sell it for a bigger
profit if you can no longer attend or you just want a little extra cash.
The concept of reselling hotel reservations isn’t entirely new, as people have been doing it on their own through online forums and classified ads for years. However, Hoken offers a more organized and secure platform for buyers and sellers.
These platforms allow people to recoup their losses when they need to cancel a non-refundable hotel reservation by selling it to someone else. It’s a win-win situation for both parties as the seller gets some money back, and the buyer gets a great hotel room.
With the rise of these types of platforms, it’s clear that the reselling industry is continually evolving and adapting to meet new demands. As technology continues to advance, we can expect to see even more innovative ways to resell products and services in the future.
Ready To Start Reselling?
Looking to make a little extra income or make
the most out of that vacation you can no longer take? You don’t need to spend
hours finding sneakers or trading cards. Instead, focus on the future of
reselling–hotels. And with Hoken, it requires very little effort to get started
anytime you want. Let us help you buy and sell your hotel rooms by signing up
today!