Is the world of sneakers becoming the next Wall Street? Yes – it is! StockX is surely the face of reselling sneakers platforms worldwide. StockX is an online marketplace and clothing reseller, primarily of sneakers. Users can buy and sell verified rare pieces without any risk of being scammed.
Josh Luber founded StockX only four years ago in Detroit. The company is now worth one billion dollars. In 2015, the Financial Times identified this figure as the value of the entire global sneaker reselling market.
How to trade on the sneakers resell market
Many are the people that wonder how to trade sneakers. Reselling refers to the trade of sneakers and streetwear that have never been used. The business started in the U.S. approximately in the mid-2000s when sportswear brands began to launch products in limited series.
This strategy is increasingly in vogue, so much so that camp-out – that is, camping outside stores, lining up long before the opening and launch of the product on the market – is also popular in Italy. People are also willed to travel abroad to obtain the best deals and then trade sneakers at a higher price on the sneakers stock market. Only a few people buy the sneakers: the patients or the lucky ones, in case, to be able to buy you have to participate in an online lottery.
Those who get pairs can trade sneakers immediately on the spot, with a price increase of 90 euros. However, others wait and choose to resell them online at higher prices. Or via eBay or via social, through dedicated Facebook groups.
The sites that allow to trade sneakers have grown tremendously in the least years. In terms of supply (because more and more users are using them) and, of course, in terms of revenues. Each one works according to a different mechanism and, often, it is the peculiarities that make the platform particularly used. StockX, for example, emulates the stock market by showing the quote of the product in real-time and allowing the user to buy it (or sell it) in the most favourable moment. Product prices vary, of course, depending on demand: the minimum bid for the very rare Nike Dunk Sb Low Staple Nyc Pigeon is 16 thousand dollars, while for the Jordan 1 High retro Phantom just 111 dollars.