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This is specifically true when it comes to shoes, and many people find themselves slowly building a sneaker collection over time. One of the most prominent sneaker resale sites that you can take advantage of his StockX, but not everybody knows how it works.
Not quite sure how to begin? We’ve got all the info you need to know.
Let’s dive in!
So, How Exactly Does It Work?
It’s not uncommon for many people to be skeptical when buying and selling sneakers online. This is particularly true when it comes to high-value items, as the fear of getting a fake piece could easily deter someone from making a purchase.
But, StockX has a system in place that strives to make each transaction as safe as possible. Let’s take a look at what you can expect as both a buyer and a seller.
As a Buyer
Initially, the purchase process on StockX is relatively straightforward. You can browse through their online catalog until you find a sneaker that you’re interested in.
In most cases, you’ll be presented with something called the ‘lowest ask’ for each available size of the sneaker. This amount is what you can expect to pay if you wish to buy the shoe immediately.
But, you have the option of putting in a bid instead in order to save a bit of cash. It’s up to the seller whether or not they accept your bid, and you may also find yourself outbid by other buyers.
So, you’ll want to keep this in mind if you’re looking to purchase a sneaker that is limited in stock. Otherwise, you might find yourself unable to get the item at all.
After your purchase has been confirmed, the seller must then ship the sneaker to the official StockX facility within two business days. This is so that the StockX team can verify the authenticity of the sneaker and ensure that you don’t end up with a counterfeit product.
Once the item has been verified, it is marked with a signature green verification tag and then sent to your shipping address. At this point in the process, you’ll be able to track the location of the item before it arrives.
It’s worth noting, though, that you can also view the status of your order before it’s en route to you. For example, you’ll be able to see that the seller has shipped the item to the StockX facility, whether or not the item has been verified yet, etc.
As a Seller
If you have authentic sneakers that you’d like to get rid of, StockX is the place to do it. And, it’s as easy as searching the item on the platform’s catalog and then selecting the size that you have available to sell.
At this point, you can either sell it for whatever the current highest bid is, or you can submit an asking price of your own and wait to see if anybody chooses to purchase the item. For those who are unaware, StockX only accepts sneakers that are brand new. The platform does not allow people to sell used sneakers or other items.
After your item has been purchased by the buyer, you’ll receive an email from StockX with a prepaid shipping label. You’ll also receive a packing slip that you’ll need to include in the box you shipped your sneakers in.
As previously mentioned, you have two business days to ship the item to the official StockX facility. If you aren’t able to meet this deadline, you’ll be charged a small fee for the inconvenience.
After StockX has determined that your item is authentic, they will then release the funds to your account and the transaction will be complete
Initially, StockX claims approximately 10% of the sale as a transaction fee. As you sell more and more items on the platform, though, your seller level will increase and your transaction fee will diminish.
After you receive your money, you’re no longer involved in the sales since StockX is responsible for handling the item’s shipping arrangements.
So, Is It Worth It?
If your goal is to purchase new, authentic sneakers online, then yes— StockX is a great resource to take advantage of.
If you’d like to sell authentic items, though, you could make a bit more money by using other platforms instead. Or, you can sell the sneakers to somebody you know in real life and avoid the hassle of dealing with a transaction fee, verification time, etc. entirely.
But, StockX does offer sellers a quick and reliable way to ensure that buyers get exactly what they’re looking for and that the sellers get paid appropriately. Put simply, it’s virtually impossible for either party to get scammed on StockX due to the safeguards that the platform has in place.
So, if making as much money as you can as a seller isn’t a priority, it’s also worth checking out.
Using StockX Can Seem Complicated
But the above information will make using StockX far smoother and help get you complete your transactions as quickly and as safely as possible.
Want to learn more about what we have to offer? Feel free to reach out to me today and see how we can help.