Posted by Alex Jackson on December 20, 2019
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.