Locations: Based in Detroit, online
Selling process: StockX is based on a bid/ask process. You can list your sneakers for however much you want, and potential buyers can choose to accept your price or not. Buyers can also list their own prices, and if that amount is acceptable to a seller, they can choose to sell their shoes for that amount. Once a deal is agreed upon, StockX will email a shipping label to send the sneakers to them to be verified. The service typically gives you two business days to ship your sneakers, or else there will be a fee taken out of your price. The platform has just introduced the new StockX Listing program that allows users to buy and sell used sneakers (as well as other goods) for the first time.
Fee: Seller fees currently start at 9 percent, but the rates decrease the more pairs you sell. Fees will drop to 8.5 percent after 12 sales or $1,500 in volume, 8 percent after 40 sales or $5,000, 7.5 percent after 200 sales or $25,000, and finally down to 7 percent after 800 sales or $100,000. The payment processing is 3 percent.
Payment process: Payment is put in your StockX Wallet once the shoes are shipped and verified. The funds can then be sent to a bank account, PayPal, debit card, or Venmo.
Pros: The more you use the service, the better. Your rates go down the more sneakers you sell, and eventually you won’t have to wait for someone to buy your shoes to get paid; meaning that if there is a bid for the sneakers you own and you’re OK with that price, you’ll have the money within a few days. You can also make educated guesses on how much you want to list your sneakers for, because StockX has a database of how much recent pairs sells for in their respective sizes.
Cons: The nature of StockX’s bid/ask structure allows listings to easily undercut each other, essentially creating a more buyer friendly experience. While that’s great if you’re looking to score a deal on a new pair of sneakers, it can minimize profits for sellers.
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