Whether you like it or not, the secondary market is a significant part of the shoe industry. Indeed, the sneaker reselling market produced an estimated $2 billion in North America in 2019 and is expected to reach $30 billion globally by 2030.
StockX is one startup that is reshaping the secondary sneaker market. StockX, founded by Dan Gilbert in 2015, is a peer-to-peer marketplace where users can buy and sell new shoes, streetwear, and a variety of other highly sought-after commodities and collectibles.
Is StockX Legit?
StockX is, in fact, legitimate. The Detroit-based company employs more than 1,000 people and works in more than 200 countries.
It is backed by a number of renowned business executives and celebrities, including private equity firm Battery Ventures, multi-platinum artist Eminem, and American fashion model Karlie Kloss.
StockX has evolved into one of the largest and most reputable markets for sought items over the last five years.
As of December 31, 2020, the company announced that it had completed 7.5 million transactions and generated gross merchandise value of more than $1.8 billion (GMV).
The company raised $275 million in its most recent series E fundraising, valuing the company at $3.8 billion.
Beyond its outstanding resume, what distinguishes StockX is its exclusive in-person authentication procedure.
All things sold on the platform are subjected to a rigorous authentication and quality control process to ensure they are identical to what a consumer would receive from the retailer.
StockX has a 3.4-star rating on Trustpilot.
How does StockX Work?
StockX is a bid-ask market. The seller establishes the asking price. Buyers place their bids. A seller or a buyer can accept a bid or an ask and voilà – the item is sold. As soon as a transaction occurs, the buyer’s credit card is charged.
To address the validity of products sold on StockX, let’s look at how the process works. After an order is placed on StockX, the seller is provided with a pre-paid shipping label, and the product is dispatched directly to StockX, which acts as the transaction’s middleman.
StockX then validates the product’s legitimacy and condition before packing and mailing it to the buyer.
If an item fails authentication, the seller may be fined, and StockX will endeavor to fulfill the order. If the buyer’s order cannot be fulfilled, it is canceled.
Apart from the standard bid-ask methodology, StockX also offers one-off product launches such as DropX and IPOs.
One of their largest DropX’s to date occurred in December for a hundred Jordan 6 PE Oregon Ducks.
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How does the StockX Authentication Process Work?
You may be curious how the StockX authentication procedure works in detail. With six authentication centers located throughout the world, each piece undergoes a rigorous, multi-step verification process to verify that what you’re purchasing is legitimate.
To begin, StockX allows only deadstock items on their marketplace, which means that each item purchased or sold must be brand new and unworn.
Following that, the material construction is thoroughly analyzed using checklists containing over 100 data points, and this is performed for the packaging as well.
While it is possible for counterfeit factories to attempt to duplicate sneaker technologies, StockX uses machine learning to assist their authenticators in catching even the smallest detail.
Naturally, it would not be completely boxfresh without each and every accessory and add-on in place. These must be included prior to sending the product to you.
This procedure gives a rate of accuracy of 99.95 percent. Additionally, if StockX does receive a forgery, they have a thorough database that is updated daily and serves to keep their crew informed and current.
How Long does StockX take to Ship?
StockX states that it strives to fulfill all orders within 7-12 business days (not including weekends or holidays).
Shipping and delivery timelines are subject to change based on how quickly the seller sends the item to StockX for authentication following the purchase.
The customer will receive tracking information for their shipping once the item has successfully passed the multi-step verification process.
Due to the ongoing coronavirus (COVID-19) pandemic, delivery delays are possible.
Where does StockX ship to?
StockX ships to over 200 countries and can deliver practically anywhere on the planet.
What can I buy on StockX?
Users can purchase and sell the newest sneakers, streetwear, gadgets, art, collectibles, trading cards, and accessories on StockX, as well as soon-to-be-released NFTs.
Sneakers and streetwear are the platform’s two most popular product categories, with labels such as Jordan, Nike, Yeezy, and Supreme leading the way.
Recently, StockX has begun to gain traction in the electronics market, anticipating the release of the PS5 and Xbox in 2020.
By the end of 2021, StockX’s product pages for the PS5 Disk and PS5 Digital US plug editions indicate that the brand had sold approximately 200k PlayStation 5 consoles at an average selling price of $725!
Is StockX Legit for Supreme?
Yes! When you purchase a Supreme item from StockX, you can be certain you’re getting an authentic piece, regardless of whether it’s a box logo tee or outerwear. StockX authenticates each Supreme item they receive due to the brand’s popularity and the high volume of counterfeits, so you can shop with confidence.
Is StockX Legit for Louis Vuitton?
Louis Vuitton is one of the most counterfeited brands in the world, which is why StockX authenticates each piece they receive to ensure you receive a genuine and authentic item.
How to sell on StockX?
If you’re interested in selling on StockX, just establish an account and post your item(s) for sale by submitting an offer or accepting the current highest bid price.
Once a bidder accepts your ask or you accept the highest bid, your item has been sold. StockX will provide you with a pre-paid postage label for the purpose of delivering your item to StockX for verification.
After the item has been verified, StockX will pay you via PayPal. If the item does not pass verification, StockX returns it to you and you may be charged a penalty fee.
How much does StockX take?
StockX’s seller fee structure was been changed. Seller fees range from 10% to 8%, depending on the amount of money or the number of products a seller sells on a quarterly basis.
The graphic below details the seller levels and how to reduce seller fees on StockX by selling more.
Along with the seller fees, StockX charges a 3% processing fee on each transaction. As an example, if you are a Level 1 Seller on StockX, your total costs would be 13% of the sale amount.
How to buy on StockX?
Purchasing on StockX is simple: Simply place a bid on an item or immediately purchase it for the buy it now price.
It is critical to remember that bids are valid for 30 days and that if your bid is approved, your credit card will be debited instantly. Maintain a record of your active bids on your account’s “purchasing” tab.
Once your bid is accepted or you accept a seller’s offer, the seller will immediately ship the item to StockX for verification.
StockX then verifies the item’s authenticity. If the item passes authentication, you will be provided with a tracking number and it will arrive within 7-10 business days.
How much is it to buy on StockX?
In a nutshell, it depends. StockX is a real-time marketplace where the market determines the price of a product. Items range in price from $15 to $25.
As on April 22nd, 2021, StockX will charge a 3% buyer fee on all orders placed on the platform. The site charges a minimum buyer fee of $4.95 and a maximum buyer cost of $29.95. Internationally, fees may increase or decrease in accordance with currency exchange rates.
How to cancel a StockX order?
Regrettably, once your Ask or Bid has been accepted on StockX’s platform, it cannot be canceled.
According to StockX, this guideline was implemented to protect the marketplace’s integrity. If you believe you are unable to fulfill your bid or ask due to an extenuating condition, you may contact StockX and explain your situation to their support team.
How to delete StockX Account
The simplest approach to delete your StockX account is to send an email requesting account termination. Following are the steps:
Send an email to [email protected]
Request the deactivation of your account
Where is StockX Located?
StockX is headquartered in Detroit, Michigan at 1046 Woodward Avenue, Detroit, Michigan 48226. StockX is a multinational corporation with operations in Australia, Japan, India, the Netherlands, the United Kingdom, and Hong Kong.
Given the size of the reselling market, there are other alternatives to StockX. GOAT, eBay, Stadium Goods, Flight Club, and Grailed are just a few of StockX’s major competitors.
Does StockX.com have Good Customer Service?
StockX has a 4.1-star rating from 1,272 customers, indicating that the majority of customers are generally satisfied with their purchases.
Consumers who are satisfied with StockX regularly express their gratitude for quick delivery, a positive experience, and immaculate condition.
How to Track Orders on StockX.com
To check the status of your order and monitor its delivery, visit stockx.com/buying. Additionally, you can subscribe to UPS and DHL service alerts to stay informed about COVID-19 shipping delays.
Does StockX.com have promotional codes or discount codes?
Yes, StockX offers a variety of promotional codes for their most popular products. You can save up to $300 on your initial StockX watch purchase or $50 on your initial StockX handbag purchase.
Does StockX.com have a refund policy?
StockX does not give returns, exchanges, or swaps due to the anonymous nature of our live market – including if you ordered the incorrect size. The good news is that you can always resale your item with them if you decide you no longer desire it.
StockX.com Methods of Payment
As a global marketplace, StockX offers buyers a variety of payment alternatives based on their region and purchase type. Visa, MasterCard, American Express, JCB, UnionPay, and Discover are all accepted.
Additionally, major credit card providers’ debit and gift cards are accepted.
The Pros and Cons of StockX.com
For as many positive features as StockX’s platform gives merchants, there are also some issues that sellers dislike. As a result, many resellers utilize StockX solely for its analytical data, preferring to sell on other platforms
StockX promotes a free market, which means that customers set the price of footwear. Many resellers are displeased with the fact that customers can bid below the average market value, thereby lowering the worth of a shoe on the site.
Each online resale platform charges a fee to sellers to use their platform. That is unsurprising, as it is how they earn money.
StockX’s fees, on the other hand, are greater than others. StockX charges sellers a 9.5 percent commission, which may decrease as you sell more footwear.
Additionally, StockX has increased shipping prices and added a payment processing fee throughout the years. Increased fees equate to less money in your pocket following a transaction.
New users frequently become puzzled upon their first visit to StockX, since instead of seeing a single price as they would in almost any other business, they see three different prices that can vary significantly in value.
Best alternatives to StockX.com
Through its ups and downs, StockX is an excellent alternative for resellers hoping to benefit from shoe flipping. Having said that, these folks are by no means the only way to sell shoes.
There are other more online resale marketplaces that are also fantastic possibilities.
What other options are available to you as a reseller? The following are some of StockX’s primary competitors, as well as additional resale websites and applications that you can use:
- Stadium Goods (recently purchased by FarFetch)
- Facebook Marketplace
How does selling on StockX.com work?
Our real-time marketplace operates similarly to a stock exchange, allowing you to purchase and sell the most sought-after things at their genuine market value.
Is Stockx A Reliable Source For Sneakers?
StockX is a 100% legitimate company
Is Stockx Legit For Xbox Series X?
While we do not encourage doing so, StockX is a respectable eBay-style site that will allow you to get a new Xbox if you are ready to pay at least $650.
Is Stockx Legit For Graphics Cards?
Everything purchased on StockX is genuine and brand new. There are no preorders available. All products on StockX must be sent within 2-3 days of purchase.
Is Stockx Legit For Pokemon Cards?
Almost every Pokémon card you receive on StockX is authentic.
Does Stockx Sell Fakes?
StockX did not disclose the number of fakes discovered by its staff of authenticators, but Einhorn stated that StockX now sees “much fewer fakes than we did previously, which is a direct result of our stringent authentication process. “There are a variety of reasons why a sneaker may not match our authentication threshold,” Einhorn explains.
Where is StockX located?
StockX now operates international offices in London, the United Kingdom, and Eindhoven, the Netherlands.
StockX is a legal marketplace for sneakers, streetwear, electronics, and collectibles. Nonetheless, it is not a conventional e-commerce platform, and users should do due diligence prior to dealing on the platform.
Due to StockX’s no-return policy, it is critical to verify that the SKU or style code corresponds to the goods you are interested in purchasing or selling.