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Whether you're a fan of reselling or not, there's no doubt that it plays a major role in the sneaker game. A $6 billion USD industry, this is forecasted to grow by a whopping 25% by the year 2025. It's no wonder then that secondary sneaker marketplaces such as StockX are on the rise. In fact, according to a report by The NPD Group, a staggering 29% of all footwear bought online is done through this platform in 2019.
So why exactly is it so popular at the moment? What's the reason that 60% of Gen Z males buy their favourite sneakers and streetwear pieces from this site? And most importantly, is StockX even legit? Let's find out.
As mentioned before, StockX is a secondary marketplace where you can buy and sell sneakers. Established in Detroit, Michigan in 2015 as "The Stock Market Of Things", it was founded by Dan Gilbert, Josh Luber, Greg Schwartz, and Chris Kaufman. Almost 10 years later, the reselling platform now has around 1,400 employees across 197 countries and territories. They've also ventured off into selling luxury handbags, watches, and electronics as well.
StockX is the world's first stock market for things. Whether it's streetwear or sneakers or collectibles, if you want something in your personal collection then all you need to do is make an offer that any seller can accept or purchase immediately at the lowest asking price. As soon as your payment goes through, the seller will be instructed to ship directly to StockX where they will authenticate the item before being delivered directly to your doorstep, safely packaged with a green StockX-branded tag that guarantees your purchase has been put through the most stringent of legit checks.
If you want to sell on StockX, all you need to do is list the items for sale or sell immediately at the highest bid. When someone buys it, ship it over to StockX within two business days where they'll authenticate it. When it passes the test then it'll be shipped to the buyer, and if for whatever reason it fails, it'll head straight back to you.
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You might be wondering, how exactly does the StockX authentication process work? With six authentication centres around the world each piece goes through rigorous, multi-step verification procedure to ensure what you're buying is 100% legit. Firstly, StockX only allow deadstock items on their marketplace, meaning that every item bought or sold must be brand new and never worn and should come with all original accessories such as laces or hangtags. Next stop, the material construction is analysed extensively with checklists of 100+ data points, and this is repeated for the packaging as well.
While it's easy for fake factories to try and replicate sneaker technologies, StockX use machine learning to aid their authenticators in catching every minor detail. Of course, it wouldn't be fully boxfresh without every single accessory and additional add-ons in place. These must be included before the product is sent out to you. StockX themselves stated that this process ensures a 99.95% accuracy rate, however this is a claim which has been disputed by Nike which led StockX to change their promise from offering "authentic" sneakers to offering "verified" sneakers.
Despite this however, StockX still have some of the most thorough and researched processes for authenticating sneakers and ensuring you aren't purchasing a pair of fakes.
StockX has a very strict process for making sure the goods you receive are legit. They have a two stage authentication and verification process to weed out any possible fakes, reps and dupes. They would not knowingly ship out a pair of fake shoes and have some of the most experienced legit checkers on their team to help ensure the best experience for their users.
In general, StockX try to complete all ordered within 7 to 12 days, not including holidays and weekends. However, some factors which could delay this are how quickly the seller can send the item to one of their authentication centres and the verification process itself. Legit checkers may also take a few extra days on a particular item if they want to be 100% sure. This will be placed under additional tests and checks to ensure that what you get is definitely genuine.
Unfortunately once a sale has happened, your ask or bid can't be cancelled. The reason for this is to stop people from buying and selling things without maintaining their side of the deal. This builds a marketplace that is real, active, and dependable.
If there is a special circumstance of why you can't fulfil your purchase or sale, you can contact StockX directly and explain to them. There are occasions when they may put a halt to a transaction, though it's worth noting that this is very rare.
So, is StockX legit? The short answer is yes - it's a legit business who have supplied authentic sneakers to thousands of happy customers! With over 1,400 employees, 13 authentication centres, operating in almost 200 countries, StockX is definitely the real deal. So if you're on the hunt for that sneaker grail, a luxury watch, or even a sought-after collectible, it's definitely a reliable option to check out.
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