For changing the way sneakerheads buy shoes
What if limited-edition sneakers traded like stocks? That’s the idea behind StockX, which describes itself as first online consumer- stock-market of things. Sneakerhead Josh Luber first founded Campless. com, a site offering stats on sneaker sales, due to frustrations over the lack of transparency in the secondary sneaker market conducted on eBay and other niche websites. In other words, buyers often don’t know if they’re getting ripped off and sellers don’t know if they’re offering too sweet a deal. With a system rooted in the principles of financial trading, the StockX exchange offers participants a way to find historical price and volume metrics, real-time bids and offers (asks), time-stamped trades and additional analytics on every sneaker model presented on the marketplace. With prices moving higher or lower based on bids and asks, the goal is to set a “fair price” for both sellers and buyers at that moment in time — just like the stock market.
Launched in February 2016, StockX also seeks to minimize issues around counterfeits, product quality or even surprise shipping charges and delays that can come with auction purchases. All sales are anonymous and StockX serves as the middleman between buyer and seller to authenticate the sale and ship the item to the buyer.
StockX eventually wants to explore women’s handbags, watches, comic books, baseball cards, coins and secondary sales of other items featuring a similar high-resale-value and supply-and- demand dynamic.
SGB Magazine Fall Innovators Issue celebrates the ideas changing the way we run, hike or play the game. For the full story please click here.
Photo courtesy StockX