Sneakers are big business these days; it’s a red-hot category
for many major retailers and resale platforms. So it should be no surprise that
there is fierce competition to be the go-to destination for the most serious of
collectors the hardcore sneakerheads. In a recent article, we briefly looked into the world of
the sneakerhead subculture and how collecting and selling limited run and rare
sneakers can be a highly profitable business. Recently, established online
platforms like eBay and Poshmark, who have enjoyed a virtual lock on the
secondary collector marketplace, are now facing some real competition in the
form of a new tech upstart whose sole focus is sneakers.
Stock X is the sneaker centric newcomer that operates much like
a stock market. Buyers can bid, and sellers can ask for a specific price, and
when the two prices meet on a particular item, the transaction happens
automatically. Now the appeal for the collector is that the seller first ships
the item to Stock X for authentication and then ships to the buyer once the
purchase passes inspection a very valuable selling point for the dedicated
collector.
Just how serious of a threat
is this new platform to the likes of eBay? Serious enough that they have made
some drastic changes to their seller fees, making it a lot more attractive for
sneaker sellers. eBay has decided to eliminate fees for men’s or women’s
athletic sneakers that sell for $100 or higher. Now we know that not every
seller specializes in collectible sneakers and granted many sneakers may not
qualify because of the dollar threshold. Still, a large chuck will now be
fee-free, and this means more money in your pocket at the end of the day as a
seller. Any resellers specializing in either women’s or men’s shoes should now
be on the lookout for those higher dollar sneakers that frequently appear in
Foxliquidation wholesale lots. Remember that at the end of the day, a fee-free
sale means sneakers are netting you a lot more profits.