Now, when it’s about shopping, I’d rather come out clean.
If you’re anything like what I consider myself to be (a hog of an online shopper), then you’ve probably been royally burning your hard-earned bucks on overpriced things you see on screen.
Not that this could remotely be termed as “guilty pleasure”, especially when there’s more guilt than anything pleasant about it. It’s time we admitted that we grandly paid about a $100 more for a pair of sneakers we could’ve had at a fair and reasonable price.
However, all is not lost, it seems!!
Why? Because if you’re on this page right now, then you’ve probably been looking for an honest review of StockX for quite some time!
StockX has recently taken hold of the reigns of online shopping portals because of the pricing system it offers.
Hey, I’m Christina, and I’m obsessed with shopping online. And I certainly know a thing or two about how the e-commerce world works.
So, today I’m here with the awaited review on StockX, better known as “the stock market of all things”.
StockX Reviews Jul 2021: A Brief Overview to The Real Stock Market
First thing’s first…
Before I start delving deeper into the subject, it is better to first understand how the real stock market works as you could then follow the pricing system, listing, and bidding that goes on the StockX.
So, when you buy a stock on the primary or main market, you’re required to pay a preset or already established price; whereas when you buy one on the secondary market, the cost will depend on the supply and demand ratio.
Therefore, a stock market represents any place where buyers and sellers meet on common grounds to transact and negotiate on the price of a product.
However, neither will buyers buy for any random price nor will sellers sell at a random price-tag.
So how do both parties come to terms on the final deal?
It all happens in three main steps:
- The “last price”
The “bid price” is the highest price that someone is willing to pay for the stock.
The “asking price” is the lowest price the seller would sell their stock for.
And when the bid price and asking price equalize from both sides, the transaction of buying and selling the stock occurs.
However, there’s one twist to it all: there will be several different bids and ask prices at the market. Therefore, once a particular transaction gets done with, you’d be left with the other bid and ask prices. These crop up as different people will want to buy and sell at different rates.
There are, however, 3 things you could do if the seller’s ask price differed from your bid price:
- Raise your bid price
- Wait for the seller to lower their asking price
- Search for another seller
In the absence of any of these things, a deal will not take place.
What’s the “last price”?
Now that things about the bid and ask prices are clear enough, we come to what’s known as the “last price”.
Since there are no pre-established prices in the secondary market, setting up a “fair” price could become a considerably challenging task.
Now, suppose it so happens that Revolve stock starts trading at $1,400. This won’t mean that you could get online and buy Revolve stocks at that price. This trading price refers to the last price it traded (or sold) at. People will generally pay approximately $1400 for a single share of Revolve, and you can easily bid higher or lower than this price.
But $1400 is what could be called the “sweet spot for shares” of Revolve on that given day. Thus, the last price paid could be a guide and a reference for what you might pay.
And, this is precisely what StockX is all about and how all of the deals on its portal come to take place with customers having their own bids and sellers with their ask prices meeting up with a fair deal that works for both parties.
What is StockX?
StockX is called the “the stock market of things” and for a good reason. You can buy and sell deadstock limited edition sneakers such as Adidas Yeezy, NMD or Retro Jordans, watches, luxury handbags, Supreme Streetwear and more at this “live marketplace”.
The value of trust
The real foundation that stabilizes, anchors, and feeds the stock market is the trust of the buyers and sellers it has acquired over the years.
Of course, if investors didn’t trust that they could access precise information or make legitimate and lawful trades, they wouldn’t have invested in the market, to begin with.
And one of the most glaring proofs of StockX’s reliability is that it functions exactly like the stock market that is entirely built on the trust of its customers, which could only be earned through honest service and experiences.
One of the things that got me hooked on to StockX when I bought my first pair of sneakers was its transparency and the kind of open communication it encourages between buyers and sellers. It has no hidden agendas or duplicitous intention of ripping you off and provides only the best deals for both parties that run the business.
Moreover, StockX’s verification process (more on that later) ensures that you always get the correct product.
The historical data or “late price”
StockX gives you the sales history of different products so that you get to see at what rates specific items have been sold for and decide what to buy and sell. In a stock market, surely you wouldn’t want to bid $3000 for a share of Sephora that sold for only $1500 5 minutes ago. The same goes for everything over here which includes sneakers as well.
How do you buy from StockX?
Since the site works exactly like the Stock Market, you can buy from here in two ways:
Making a bid any seller can and will accept
- Simply enter the price you want to pay.
- Your bid can remain active for a maximum of 30 days.
- If you don’t get a seller you can raise your bid, quit, or wait longer.
This is one of the best options to save money here as you can get things at unbelievably cheap prices.
Buy at once at the lowest price
- You can connect with the seller on the best deal.
- You can get the best possible deal at that given moment.
By shopping this way, you would have successfully avoided searching the internet endlessly for the best deals.
Creating the asking price for the seller
If you’re a seller, you get to decide on the asking price and then negotiate on the kind of offer that you want to cash in.
Create an asking price that buyers will pay for
- Enter the price you want for your product.
- You can remain active for max 30 days.
- If you don’t get a buyer, you can lower your ask price, quit, or keep waiting.
You can sell at once to the highest bidder
- If you need the money now, you can sell to the highest “bid” right away.
- You can easily earn the most amount possible at that given moment.
To ensure that you get nothing but the absolute authentic products, sellers are required to ship their merchandise directly to StockX. The company’s team will then authenticate your purchases before giving the seller your money.
Every single item received from sellers is subjected to rigorous screenings and strict authentication measures by industry experts.
In this regard, the company provides us with the answers to two vital questions:
- Is the product authentic?
- Is it a brand new or a “deadstock” product?
StockX uses around 25-30 indicators to tell apart authentics from duplicates or even high-end knock-offs.
If the item turns out to be a fake or an used one, you get your money back, and the seller gets their product returned to them.
StockX also rectifies any error if it’s made on the company’s part and strives to weed out piracy and counterfeit products through such process.
To sum up, the company strives to be absolutely authentic with strict verification methods executed before releasing payment to the seller.
Fees and Coupon Codes
StockX charges a seller fee of 9.5% which will depend on your rate of sales. The more you sell, the lower this fee will go. It is similar to what a stockbroker will charge you.
The company does offer coupon codes sometimes, so you better keep an eye out for it.
Since it has been hailed as a legit and valid portal by several Redditors, Youtubers and other online reviewers, the company is working hard to live up to the soaring expectations all over the United States.
How could you trust Stockx enough to try it out?
To understand what could happen when you buy or sell on such a portal, you have to go back and check 3 main things about its history:
- Referrals and testimonials
- Past performance
And with names like Eminem and Mark Wahlberg on StockX’s Investor’s List and media coverage by CNBC, Bloomberg, The Daily Show and The New York Times, not much doubt remains about its credibility.
Also, in less than 3 years in the business, StockX has successfully:
- Made over $2 million in daily sales (over $700 million annually)
- Made sales in over 140 countries
- Has beaten eBay as the #1 sneaker reseller
- Has tripled its workforce
- Hired more than 350 employees in Detroit and Tempe, AZ
My Experiences with StockX: Delivery and Quality of Products Received
Now that I have gone over how StockX works, let me finally get into some of the more personal experiences that I have had with it.
I would be lying if I said I wasn’t a bit skeptical about their authenticity and their product delivery when I first looked up the site. Their feedback sections were filled with mixed reviews, and I did hesitate before making any purchases off of it.
But I needed to buy a pair of sneakers at a lower rate than the cutthroat prices that most of the other online portals were posting.
Adidas has always been my go-to brand for all sneaker related troubles, and StockX has an abundance of sellers giving them away at a meager price.
Eventually, I took the plunge and went in for the purchase.
It took just three days (even though the site stated that it might take 6-10 working days) for the shoes to arrive at my doorsteps. The packaging was good, and my Adidas sneakers inside looked even better. It felt brand new, and after testing it out for a few days, I was convinced of its authenticity.
However, a slight hiccup did occur when I ordered a pair of Jordans for my nephew. I wanted to get him a nice set for his basketball games, but when the shoes finally arrived, the box was in tatters, water-soaked and the shoes inside completely ruined.
I later found out that StockX does have shipping problems with some of the products.
I immediately got in touch with their customer service. They were quick and prompt with their reply, and they helped me generate a full replacement in just a few days time.
Final Verdict- Legit or Not?
After stating the workings of StockX in its entirety, it goes without saying that it is a 100% legitimate company that deals with authentic goods.
It is truly a magnificent online shopping portal that offers the best possible deals for both buyers and sellers, taking strict measures to authenticate every single item.
I hope this has been a useful read for anyone looking to get an insight into the subject.
I’ll be back with more on online shopping, amazing offers and best deals soon enough!
Till next time!