Is Selling On Stockx Worth It
If youre serious about selling sneakers and apparel, and you know you have products that can appeal to sneakerheads and collectors, go fo it. Buyers have complete trust thanks to the authentication process, and it has good profit potential. While the seller fees may detract, there is definitely earning potential long-term.
How Does Stockx Work
The main thing to remember is that StockX essentially works as a middleman. They verify the authenticity of a product before it is sent to the buyer.
This is good because it saves buyers from seeing fake goods, and it works out for sellers too. Sellers gain access to a great resale market for sneakers based on trust.
Buying and selling on StockX is simple. For sellers, you will create a listing for your product. Similar to auction sites like eBay, you can either list a product for sale or set up an asking price for bidding. Buyers can browse through listings, enter bids or directly purchase sneakers and other collectibles.
Once a product is sold, youll ship the product to StockX to complete an authentication process before its sent to the buyer.
Scaling Up The Sneaker Flipping Operation
I kept reselling pairs in that range until I had enough money saved to buy a pair of shoes for $900. After a few anxious days of waiting, I was able to flip them at $1200 for a profit of about $200. I also began to learn how to secure these $1000 shoes at retail for insane profit margins of over $500 per shoe.
I started as an absolute outsider and 4 months in I cleared $10,000 for the month.
Once you know what youre doing and you take the time to build your reputation and stay on top with sneaker news, the consistency and ease of selling aftermarket sneakers amazes me to this day.
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Authenticity Guaranteed By Stockx
StockX guarantees the authenticity of every item offered on the marketplace. They offer almost 100 % money-back guarantees and a free investigation service to address any questions about authenticity.
If an item is discovered to be fraudulent, theyll cooperate with you to replace or refund the item. Plus, when you get dissatisfied with the product after consulting their team of specialists, you may return it for a full refund.
StockXs 100 % natural authenticity guarantee serves as a safeguard against forgeries and knockoffs.
How To Sell Shoes On Stockx
Shoes and sneakers go out of fashion quite fast. This urges us to sell the ones we have in order to get new ones. If you sell your shoes online, you know the tedious process that you have to go through for that.
One of the simpler ways to sell your shoes is to sell it on StockX. It makes selling easy and fast, with proper authentication. Today we will talk about StockX, and how you can sell off your used shoes there.
Sneaker collecting has grown very popular in the last few years. With that, so increased buying and selling shoes online. It was important for the industry to come up with a platform exclusive to shoe lovers. A platform that would let them have the access to checking out shoes, and then proceed to buy or sell them.
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Can You Sell Used Shoes On Stockx Can You Legally Resell Shoes
StockX is an online marketplace for selling sneakers, where the sellers can sell, and customers can buy the necessary sneakers. This tent allows consumers to check all the information about their desired shoes and the values required by the other sellers on the same products. And the Sellers can check if their given products on StockX are sold or still there. So this is undoubtedly a fantastic platform.
People often asked me, can you sell used shoes on StockX?
StockX only allows selling new and almost new shoes. So if you want to sell used shoes multiple times, then StockX wont allow you to sell them on their platform.
Bonus: How To Sell Pokemon Cards On Stockx
Before you sell on StockX make sure your Pokemon Card is PSA graded. The better the grade the better the resale value. You can get your Pokemon card graded from PSAcard.com.
How to sell on StockX:
- To sell your trading card, simply search for the essential qualities of the card, and the StockX database will build a product page for the card you want to sell.
- Remember that all cards must be graded, either PSA or BGS, and the slabs must be in good condition with no cracks or major scratches.
- When you decide on a card you want to sell, you can either set your Ask price to let buyers know how much youre prepared to sell it for, or you may accept the highest Bid that a buyer has made.
- You will receive a shipping label with each sale confirmation to send your trading card to StockX. Check out Trading Card Shipping Guide for additional details on how to send your card to StockX.
- Your payout will be in action after your trading card has been certified as genuine, and the trading card will be on its way to the buyer!
- Remove your card from your PSA before mailing if it is registered with PSA inventory.
If youre interested in reselling sneakers to make profits, you should check out our Hypemaster Playbookwhere It will teach you all the tips and tricks youll require to get into the reselling business.
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The Cons Of Reselling Shoes
As a hustler, you need to be aware of the potential problems you will be facing with every venture you undertake. And as profitable as reselling shoes can be, it also has another side of the coin that you need to know before diving deep into the sneaker business.
Below are some of the more pressing issues:
Cons to Consider when Reselling Sneakers
After The Virtual Sale
When the sell has been made, the transaction must take place, both monetarily and materialistically. This step will be the same regardless of you agreed to the highest offered bid or got a response to your asking price. StockX will send you an email next. It will contain the pre-paid shipping label and the packing slip which you have to include in the box before shipping it for delivery.
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Everything You Need To Know About Stockx The Biggest Sneaker Site In The World
In five short years, its gone from a niche bookmark on a sneakerheads browser to being one of the most influential businesses in fashion. StockX is the place you go to find the worlds most lusted after-sneakers and a whole lot more besides. It has exclusive drops to end all exclusive drops, and its grown so much that when hackers recently targeted the site, a reported 6.8m users may have been affected.
But how did it get that big in the first place? How does a second-hand sneaker shop get valued at $1 billion? To answer that question, you have to travel back to 2015.
Back then, a sneakerhead who wanted to offload a particularly coveted pair of trainers had limited options. The platforms for selling second-hand goods were outdated, unhelpful and, most importantly, easy for scammers to manipulate. Sneaker pricing expert Josh Luber found himself frustrated with the lack of ease and transparency in the resale industry, as did venture capitalist Dan Gilbert, whod been watching his son pawn shoes on eBay with middling success.
The pair saw an opportunity to apply stock market mechanics to the resale market. Alongside businessman Greg Schwartz, they came up with StockX.
If something has a limited supply, whether theres 10 or 10,000 of that thing, the market should dictate its value and its price, Morrison says. Thats where StockX comes in.
Stockx Provides Detailed Market Information
Stockx is most notably known for providing detailed market information about the sneaker resale market. As the name implies, it incorporates principles used in a stock market. The information includes graphs that show the increase and decrease in sneaker prices. Along with that, you can see the number of sales made, average sale size, volatility and much more.
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Where And How To Buy And Sell Shoes
Now that you have the shoes, you must find the best channels where you can sell them to turn in a profit.
You can start by creating an account on a consignment shop like StockX to resell the shoes there. Both sites serve as middlemen between buyer and seller. Therefore, you deal directly with either website to sell your shoes. Send them the sneakers when youve chosen the highest bid, and they will take care of the rest.
Sites like StockX are convenient ways to sell your shoes and ensures buyers that they wont be duped by fake sneakers.
On the flipside, you dont get the personal touch from consignment stores that go with seller-to-buyer transactions. However, if youre not much of a salesman or a people person, then this shouldnt be a problem.
If you want the traditional way of reselling shoes, you can always go the way of Facebook Groups, Craigslist, and eBay. These sites allow you to put your personal touch on your pairs product page.
As a best practice, you need to be descriptive and detailed as possible about the sneakers. Leave no stone unturned and make sure that you are honest in your description. Assuming that youre a new seller, itll take time before buyers warm up to you. Therefore, you need to keep working on gaining the trust of buyers and continue marching forward.
Only The Best From Stockx
Since StockX only allows deadstock shoes on their website, theres no need for additional description of the shoe condition. All that matters is that sellers understand what deadstock means for StockX. If the shoes youre trying to sell have been worn before, StockX isnt the best marketplace for them. But if you have a pair of shoes bought in an official outlet, you can browse the site and see if they have these on their limited edition B-grade collection.
Have you ever bought or sold sneakers from StockX? Let us know in the comments section below.
Disclaimer: Some pages on this site may include an affiliate link. This does not effect our editorial in any way.
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A Review Of Buying Shoes On Stockxcom
New users come onto StockX and are often initially confused, because instead of just seeing one price like youd see in just about every other store, there are 3 different prices that sometimes vary widely in values.
Here are the 3 different prices that youll see above a shoe on StockX, and what each of them mean:
This is the last sale that happened for the pair of shoes youre looking at. Next to this number, youll see if the price has gone up or down compared to the previous sale.
This number shows you a number thats often below market value. Its the price that a prospective buyer put out there for sellers to let them know that theyll buy shoes immediately at this price.
After putting out a bid or Buy request, the buyer is bound to fulfill their promise to immediately purchase the shoe at the price.
StockX shows the lowest price on the market and its size.
Often slightly above or at market value, the Sell or Ask is how much the seller is hoping to get for their kicks. Theyre bound by this number to sell immediately at this pricepoint.
StockX will show the highest number out there along with the size that goes along with it.
Facts You Need To Know About Stockx The Billion Dollar Resale Platform
The resale market is one of the fastest growing segments of retail. One of the reasons it has grown so fast is that platforms like StockX make it easy for consumers to put up their coveted merchandise for sale in a secure and transparent manner.
Resale is not a new concept, in the past people sold their sneakers on eBay and still do and before that through their own personal networks. But when StockX launched in 2016 it made reselling goods even easier. So easy that many people have transitioned buying and selling sneakers as a hobby into their own full-time business.
Traditional retailers are not sitting back watching this market grow. Last year Foot Locker invested $100 million in resale platform GOAT, its largest investment ever. StockX is seen as the leader of the pack and here are some of the reasons why.
1. StockX is the first sneaker resale platform to reach unicorn status with a $1 billion valuation. It achieved this in less than three years and now it sells over a billion dollars worth of merchandise annually. Part of StockXs success is due to the popularity of streetwear and StockXs creation of a trusted resale marketplace where goods are authenticated reducing the risk of counterfeit products or fraudulent payment.
3. StockX is backed by a number of heavy weight investors including GV and Marc Benioff, Founder and CEO of Salesforce.
4. With over 25,000 shoes on its platform, StockX is the largest resale marketplace for sneakers in the world.
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Alternatively Ignore The Hype
If youre looking to buy rare and desirable shoes on StockX, get in line outside of the unaffordable recent releases, some of the most covetable styles on the platform reach truly astounding prices. Youve got the Yeezy Red Octobers, which go for several thousand pounds, Morrison says. The Chanel x Pharrell collaboration shoes go for between £5,000 and £10,000. The Nike SB Paris Dunks go for £10,000. And the Nike Air MAG self-lacing shoes from Back To The Future? They can go for £30,000.
If those numbers make you break out in a cold sweat, dont worry a buyer who doesnt care about hype can actually see a lot of success on StockX. Theres benefit in waiting until something goes cold, Morrison explains. I go through the website looking for old or interesting pairs that people arent thinking about, but that I know that Id love to wear and didnt get back then. Ive gotten so many great deals on truly iconic shoes, because theyve gone under-the-radar.
There Is More Competition On Stockx
Earlier, I mentioned that the pro of selling on StockX is that you have a much bigger pool of customers. However, with more sales bring more competition among other resellers. Subsequently, higher competition means smaller profit margins for everyone.
Typically after two days after a hype release, you will see the resell prices gradually or even sharply driven lower. This is frustrating but it is an open market. That is what happens on the open market.
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Both Provide Free Shipping
In return for requiring your sneakers to be shipped to them for authentication, they provide free shipping. This also means that they assume all shipping liability to the customer. So you still get paid even if the customer receives a damaged box.
In fact, you get paid as soon as they verify the authenticity of your sneakers. Of course, you do have to make sure that you package them well enough to be delivered.
Goat Provides Faster Shipping
Sneakerheads want their sneakers as fast as possible. The problem is that hype sneakers cannot be found at local retail stores. This means they must wait for sneakers to be delivered from online platforms like Goat and StockX.
Now both platforms promote a 6 to 10 business day delivery timeframe. However, Goat provides an Instant Ship option. This is where Goat will send the sneakers that are in their storage directly to the customer. The delivery time can be 3 to 5 business days. A lot of sneakerheads are willing a little more extra to receive their sneakers faster.
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Modifying A Shoes Condition On Stockx
If youre looking to sell a pair of shoes at home, StockX is a terrific place to start. The company is adamant about inspecting and authenticating each pair they get.
Consequently, this means that dealers must inspect shoes before sending them. Additionally, because StockX allows only deadstock sneakers, your assessment of the shoes condition must be 100% correct.
If youre selling them through StockX, they must be flawless. Well discuss what it implies in detail in this article and what to anticipate if you violate the StockX guidelines.
What Are Stockx Deadstock Sneakers
StockX refers to the shoes they buy and sell as deadstock sneakers. And that means theye brand-new, never worn, and usually less than five years old. They do accept older sneakers as well, but theye examined differently. StockX verifies everything about the product, the color, condition, and looks for any signs of wear and tear.
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The Middleman Feature Is Great For Security But What Makes The Website Like A Stock Market
For every item listed, StockX has tons of usable information like release date, retail price, how many units have sold, previous sale prices, and more. The data can help you as a buyer to better assess the market so you’ll never overpay. And if you’re savvy, you’ll learn to use data on previous releases to predict the value on future releases.
I personally have never paid more than retail for sneakers, so I like to use StockX to get certain shoes for below retail. If there’s a shoe that I want to buy and it’s been sitting on shelves at retailers but is still full price, StockX usually has a lower price. While retailers tend to wait a long time in order to mark down inventory by the bunch, StockX will have a price listed that’s closer to real-time market value.
Alternatively, the data works great as a seller. Let’s use the last pair of sneakers I sold, the Union Los Angeles x Air Jordan 1, as an example. I sold my pair for $803 12 days after the release, but the market value peaked at $1,520 five days before the shoe released to the public. Today, more than two months after the release, the lowest asking price is currently $609. You can use data trends like this to determine when is the best time to sell your item to maximize profit.
For consumers who are willing to pay resale prices, the data helps them get the best prices. At $609, that’s still a lot more than the $190 retail price, but it beats eBay where there are pairs currently listed for up to $1,900.