Get to Know StockX: The Online Marketplace for Sneakers and Other Rare Fashion Finds

The sneaker market has grown exponentially in recent years. The athletic shoe industry now generates billions of dollars in revenue each year, and that’s both good and bad news for enthusiasts. Sneaker aficionados have an almost unlimited range of options to choose from, but the lure of easy profits has attracted a large number of scammers and counterfeiters to the industry. Buying and selling exclusive sneakers can be fraught with risk, but we know one company is adding transparency and peace of mind to the process. That company is StockX.

What Is StockX?

Founded in 2015, StockX is a Detroit-based company that takes the stress out of buying and selling exclusive sneakers. It's best known as an online sneaker marketplace, but the site also offers electronic products like smartphones and video game consoles and luxury items like handbags and watches. StockX has grown rapidly, and it now has offices and verification centers in the United States, the Netherlands and the United Kingdom.

StockX sets itself apart from other online marketplaces in two key ways. It offers buyers and sellers market insights to add transparency to the sales process, and it verifies that all items are genuine and as described before they are shipped. If you buy a pair of sneakers from StockX, you can be confident that they will be authentic.

StockX’s transparent sales process has attracted the attention of both celebrities and industry giants alike. Eminem collaborated with the site to raffle his collection of Air Jordan sneakers after Hurricane Harvey, and Nike released its first retro LeBron James sneakers on the site. Wu Tang Clan and the celebrity jeweler Ben Baller have also collaborated with StockX.

StockX's transparent pricing and thorough verification procedures have been a big hit with both buyers and sellers, and they have made StockX one of the fastest-growing companies in the U.S. Its $1 billion market valuation earned StockX unicorn status in 2019, and that number is now almost $4 billion. The company employs more than 1,000 people, and more than 10 million buyers have used the site.

How StockX Works: The Buying and Selling Process

The StockX buying and selling process is fairly straightforward. Sellers list their items on the site, and they send them to a StockX verification center when they are sold. If the items are genuine and as described, they are shipped to the buyer.

The StockX Buying Process

Buyers have two options when they see an item on StockX that interests them. They can either click “Buy Now” to pay the seller’s asking price, or they can make an offer by placing a bid. Buyers who place bids are informed about competing bids, and they are notified when their bids are about to expire.

Deciding how much to offer for a pair of exclusive sneakers can be daunting for buyers. To make things easier for them, StockX provides data that adds transparency to the sales process. Buyers can see historical prices to find out how much sneakers have sold for in the past, and they can also check time-stamped trades, real-time bids and volume metrics.

When a seller accepts an offer or a buyer chooses to pay the asking price, the item must be sent to StockX for verification. StockX has 13 verification centers in the United States and around the world, and they are all staffed by experts who know how to spot counterfeit goods. StockX's authentication experts have rejected more than 14 million items, so buyers can rest assured that the verification standards are high.

StockX’s authentication team verifies that items are genuine and brand new, and they also check the item’s packaging and accessories. If sneakers are sold without laces or their original box, buyers are informed. Some of the latest counterfeit products are very high quality, so it takes a trained eye to spot them.

Benefits for Shoppers

StockX’s transparent pricing model and rigorous verification procedures allow buyers to purchase exclusive sneakers with confidence. They can check market data to make sure they are getting a fair deal, and they know that any item they buy on the site is brand new and genuine.

The StockX Selling Process

StockX is an attractive platform for sellers because it gives them the opportunity to reach millions of potential buyers. Most sellers do a site search before listing an item to find out what similar products are selling for, and they don't have to take photographs of their goods. High-quality stock images provided by sneaker manufacturers are used on StockX, and buyers can order with confidence because all items sold on the site are brand new.

Sellers don't have to go through an approval process when they set up StockX accounts. All they need to do is complete an online form and choose a preferred payment method. The options include credit and debit cards and digital wallets like PayPal, Apple Pay, and Google Pay.

When sellers list an item on StockX, they can either set an “Ask” price or a “Sell Now” price, and they should choose their prices with care. If multiple examples of the same item are listed on the site, buyers are directed to the item with the lowest ask price. Ask prices can be valid for up to 60 days, and sellers receive notifications when they are about to expire.

Sellers who want to wrap up deals quickly choose the "sell now" option. When they select this option, their item is automatically sold to the buyer who makes the highest bid even if their bid is lower than the site's lowest ask price. Once a deal has been agreed with a buyer, the seller sends the item to a StockX verification center for authentication.

Fees and Costs

StockX categorizes sellers according to how many items they have sold on the site. Sellers remain at Level 1 until they have sold 12 items on the site, and they pay a 9.0% transaction fee. The transaction fee drops to 8.5% for Level 2 sellers who have sold between 13 and 39 items on the site, and it falls to 8.0% for Level 3 sellers who have sold between 40 and 199 items. Level 4 and 5 sellers receive the biggest breaks. Sellers must sell 200 items to reach Level 4 and 800 items to reach Level 5. The Level 4 transaction fee is 7.5%, and Level 5 sellers pay a 7.0% transaction fee.

Buyers also pay a processing fee when they purchase items on the site. StockX bases the fee on factors like the buyer’s location, the seller’s location and supply and demand, and it's disclosed before any money changes hands. Buyers are also responsible for paying federal, state, and local taxes and import duties.

StockX bases shipping costs on the type, size, and price of the item. StockX’s carrier partners determine shipping costs, and they are disclosed to buyers before they buy an item or place a bid.

Reasons We Love StockX

We love StockX because the site’s transparent pricing and strict authentication procedures provide both buyers and sellers with peace of mind. 

Some of the other benefits include:

• ✔ Guaranteed authenticity: Items purchased on StockX are subjected to a comprehensive verification procedure, which means StockX buyers never receive counterfeit goods.
• ✔ Pricing transparency: Buyers know that they are getting a good deal on StockX because they can check metrics like historical prices, supply and demand, time-stamped trades, and real-time bids.
• ✔ Security: Buyers don't have to worry about fake sellers who set up shady meetings when purchasing items on StockX.
• ✔ Huge selection: StockX offers a huge selection of exclusive sneakers, electronic items, and luxury goods, so buyers have plenty of options.

Things to Consider Before Shopping

StockX offers buyers and sellers many benefits, but there are a few minor downsides. StockX charges higher buyer and seller processing fees than platforms like Facebook Marketplace, and all sales are final, meaning buyers cannot return items. 

In addition, StockX takes longer to ship than some other online platforms.

StockX vs. Other Resale Platforms

Many online platforms have revised their policies to make them competitive with StockX. GOAT has a strong authentication program and allows sellers to list used sneakers, but seller fees, based on feedback ratings, can be as high as 50%. Sneaker authentication is now offered by eBay, but the site is geared to handle seller-to-buyer transactions. Grailed is a popular online fashion marketplace, but the selection of sneakers and other items is limited.

FAQs: StockX

Is StockX legit?

Yes, it's definitely legitimate. StockX is a thriving company that generates annual revenues of more than $500 million and has been valued at almost $4 billion.

What is StockX's return policy?

All StockX transactions are final, which means buyers can't return items for any reason.

How long does StockX take to ship?

Shipping times and rates are set by StockX’s carrier partners. Some buyers complain about long delays, but StockX ships most items within three business days.