If you’re anything like myself, you’re probably wary of spending so much money online for a pair of sneakers.
In this article, i’ll give my honest review of the StockX, so you can sleep easy waiting for your new gear to arrive. :)
Buying and Selling in the Stock Market
When you buy a stock on the primary market, you pay a pre-established price.
When you buy a stock on the secondary market, the price is determined by supply and demand.
But do you know how stocks are traded on the secondary market?
The Marketplace – That’s Where StockX comes in
What is a marketplace?
To put it simply…
…a marketplace is a place where things are bought and sold.
The stock market represents a place where buyers and sellers come together to transact.
But buyers won’t buy for any price.
Likewise, sellers won’t sell for any price.
You may be wondering:
How do buyers and sellers come to terms on a deal?
The Bid and the Ask
Buyers and sellers use BID and ASK prices to strike a deal.
- The bid price represents the highest price someone will pay for a stock.
- The asking price represents the lowest price someone will sell the stock for.
To make this quick…
…when the bid price and ask price meet, the transaction occurs.
But there are many different bid and ask prices in the market.
Thus, once the transaction occurs, you are left with the other bid and ask prices.
These prices occur because different people want to buy and sell at different prices.
However, if your bid price differs from the sellers ask price, you can:
- Raise your bid price
- Wait for the seller to drop his ask price
- Find another seller
If none of these things occur…
…a deal will not take place.
This may sound complex simply for buying and selling shoes. But I believe that adds to the legitimacy of StockX.
STOCKPILE - The #1 brokerage for beginners
The “last price”
In the secondary market, there are no set prices.
This can make coming up with a “fair” prices rather difficult.
When you hear someone say:
“Amazon stock is trading at $1,600.”
That doesn’t mean you could hop online and purchase Amazon for that price.
The price Amazon is trading at refers to the last price it traded (or sold) at.
People are generally paying around $1,600 for one share of Amazon.
Feel free to bid higher or lower…
…but $1,600 is the “sweet spot” for shares of Amazon on that given day.
- Buyers and sellers are brought together to transact
- Transactions occur at mutually agreed upon prices
- The last price paid can be a guide for what you will pay
Now i’s a bit more clear, right?
So simple, in fact, that entrepreneurs have been wondering:
“Why can’t this model apply to everyday products?”
StockX: Wall Street meets Air Jordan
Just like in the stock market where companies issue a finite amount of shares…
…sneaker companies produce limited quantities of desirable products.
But what if you weren’t able to get in on the initial public offering?
You move on to the secondary market – otherwise known as the stock market.
Stock market for sneakers
StockX is where Wall Street meets Air Jordan (and many other brands).
The startup has created a platform that functions exactly like a stock market.
StockX is a live marketplace for buying and selling anything from…
- limited edition sneakers
So, you missed the “IPO” for your Black Cement IIIs.
Fortunately, these kicks can be yours…
…for the right price. Click here to browse their store
Historical Data (the “late price”)
StockX provides sales history of different products.
You can see what specific items have sold for…
…and decide what to buy or sell for.
In the stock market, you wouldn’t bid $2,000 for a share of Amazon that sold 5 minutes earlier for $1,600.
The same concept applies to anything – including sneakers!
The Buyer (the Bid)
As a buyer…
…how can you be sure you’re getting the best deal on the secondary market?
You have two options:
- Make a Bid that any seller can accept
- No drama – just enter the price you will pay the damn thing!
- Your bid can remain active for 1, 3, 7, 14, or 30 days.
- If you can’t find a seller – raise your bid, get out, or keep on waitin’.
- This is the best option for saving money. You can actually buy things a lot cheaper this way. Click here to place your bids.
- Purchase immediately at the lowest Ask
- Alternatively, you can be connected to the seller with the best deal.
- You get the best deal possible at that moment in time.
- Again you can also find deals directly.
You have successfully avoided scouring the internet for days, weeks, or even months in search of the best deal.
The Seller (the Ask)
As a seller…
…someone has to make you an offer that you can’t refuse.
The price is up to you!
Create an Ask that buyers will pay for
- No drama – just enter the price you will take for your stuff!
- Your ask can remain active for 1, 3, 7, 14, or 30 days.
- If you can’t find a buyer – lower your ask, get out, or keep on waitin’.
Sell immediately to the highest Bid
- Need money now? You can sell to the highest bidder.
- Make the most money possible at that moment in time.
Now that you have paid a fair price, how do you know what you’re getting is legit?
Imagine trying to buy shares of Amazon, but instead of Amazon, you discover…
…that you were sold shares of a near-bankrupt company with a deceptively similar name.
That doesn’t happen in the stock market!
Why should it happen anywhere else?
To ensure that you aren’t getting screwed…
…sellers have to ship their items direct to StockX.
The company’s team of experts authenticates your purchases before giving the seller your hard-earned cash.
The StockX team looks at every single product they receive from sellers.
And these guys are industry experts.
Why does this matter?
Take a pair of rare black-and-red Air Jordans from 1995, for example…
…the rarity of such shoes can fetch $500 on StockX.
Even if you are not a self-proclaimed “sneakerhead” that is serious cash to drop.
The company answers two very important questions:
- Is it authentic?
- Is it brand-new (otherwise known as “dead stock”)?
StockX uses 25 to 30 indicators to distinguish legit items from knock-offs.
If the item is fake or used – guess what?
You get your money back and the seller gets their fake or used (or both) crap back.
Just like the stock market…
…you getting what you pay for – no surprises.
Similarly to broker fees, StockX charges seller fees of 9.5%.
The more you sell, the lower this fee goes.
Your stock broker doesn’t do his job for free, right?
StockX Review Takeaway
This is a fantastic concept…
…and it has been right in front of us for decades.
Stocks are so easy to buy and sell – why can’t everything else work the same way?
Hint: It can!
StockX has found a way to simplify buying items on the secondary market.
Here the biggest benefits to the stock market format:
It’s the real deal
You need to know what you’re buying is legit.
When items are scarce, expensive, and selling on a secondary market…
…buying with confidence is paramount.
Other marketplaces do not offer the same assurance that what you are buying is the real deal.
It’s the best deal
With the bid and ask pricing model, you will always strike a fair deal.
- You can “set it and forget it” which will trigger a transaction as soon as the price reaches your desired level (if it does).
- You can buy or sell immediately with the most favorable bid/ask price.
Plus, historical pricing data enables you to see what others have paid for the same item.
No guess work. You know the deal you are getting ahead of time. So click here to start browsing for some awesome gear
It’s the timeliest deal
You are saving plenty of time.
Because the world is full of shady characters.
You don’t need to worry about buying fake securities (the SEC has you covered).
However, you do need to worry about buying fakes for anything worth counterfeiting.
This means you would need to sift through countless websites, reviews, and prices to avoid getting ripped off.
In my opinion, this is the biggest value that StockX offers its users.
You can avoid buyer’s remorse by:
- Getting an authentic product
- Paying a fair price (or getting a fair price) based on the market
With StockX, you are going to get what you pay for.
As the way we do business continues to evolve…
…it is important not to overlook tried-and-true methods of doing business.
The stock market would not work without…
Investors must trust that they are receiving accurate information for decision-making purposes.
Buyers should have access to secondary markets that are as reliable as the stock market.
Why deal with companies that give you anything less?
StockX is an example of a startup that is getting it right.
P.S. I Hope this StockX review did put you at ease. They are the real deal and often offer deep discounts to other online stores. Click here to check them out.