Is StockX Legit?
Are you’re looking to buy a fresh pair of sneakers at a discount price? Are you mad you didn’t grab that limited edition pair that’s not available in stores anymore? Then perhaps StockX is the right place for you.
But, when you check the deals available on StockX, it might seem that it’s just too good to be true. In turn, that might make you think there’s something sketchy about this reseller website. If that’s the case, read on to find out whether StockX is actually legit or not.
What Is StockX?
When StockX started back in 2015, it focused on reselling sneakers, watches, designer handbags, as well as many other kinds of streetwear. Their business model is based on facilitating public auctions between buyers and sellers, while keeping the experience secure for all parties involved.
Based in Detroit, MI, StockX employs more than 800 people at their headquarters. To take care of the item authentication process, they’ve opened several dedicated offices. One is in the Corktown neighborhood of Detroit, with two more in Moonachie, NJ and Tempe, AZ. Expanding to international markets, they currently have authentication offices in London (UK) and Eindhoven (Netherlands) as well.
Is It Legit?
With so much effort invested in the authentication of items they receive, it would be terrible for their reputation to allow sales of fake items. As proof of this, they’ve introduced specially designed authenticity tags. They attach these to every item they deliver to their buyers.
To keep things as transparent as possible, you can even check how many units of each item have been sold and for how much. This allows you to keep track of prices and know exactly if you’re overpaying for an item or not.
Since no business is 100% fail-proof, fake items may occasionally slip through the net. That’s why it’s important to report any such instance. Everything you report, goes directly into their catalogue of fake items. This way they can prevent similar items reaching their customers ever again.
Regardless of that, it’s safe to say that StockX is definitely a legit operation. And if you were unlucky enough to receive a fake, then it’s best to rely on the StockX customer service. They’ll refund you for that particular item as soon as possible.
How It Works?
Depending on whether you’re selling or buying an item, the process you go through with StockX will be different.
Buying an Item
If you’re looking to buy a specific model of sneakers, for example, you can use the StockX search to find it. Once you do, you can choose to buy it immediately at the lowest asking price currently available.
If that price is still too steep for you, you can place a bid on that item. It’s possible there’s a seller that’s willing to accept your offer even if their asking price is higher at the moment. If so, you get the item for the price you were willing to pay in the first place. Great, right?
Once you purchase an item on StockX, the seller first ships it to one of the StockX’s authentication centers. Once verified as authentic, StockX sends it to you. If it turns out the item was fake, you receive a refund, and the seller gets his fake item back. Of course, that seller will receive a negative review based on that item.
Selling an Item
When you have an extra pair of sneakers or any other type of streetwear to sell, the first step is to search for that item. Just like when you want to buy. Once you find that item in the StockX catalogue, the next step is to choose its size.
Then, you have to determine the price for your item. To do this, you can consult the sales history for that specific item as a general rule of thumb. Next, you choose whether you want to sell it immediately for the highest price currently available or set a higher price and wait.
If you have an item that you think could go up in price over time, set your asking price a bit higher and wait. After a while, you might realize your price is a bit too high. That’s when you can accept one of the bidding prices that suits you best.
Immediately after someone accepts your asking price, StockX sends you an e-mail with a shipping label and a packing slip. When you box the item, you need to put the packing slip in there as well. This is the way StockX identifies the items they receive.
Once you send the package to StockX, you have to wait until they verify the item and send it to the buyer. When that’s complete, they finally send the money using the payment method you previously chose.
One thing to note here is that StockX charges certain processing fees. For first-time sellers, these fees are around 10%. As you sell more items, you gain the benefit of reduced fees, all based on your standing as a seller.
Getting the Original
Hopefully, you’ve found this article helpful in deciding whether you should trust StockX. When purchasing your next pair of sneakers, keep in mind that StockX invests a lot of effort in verifying the authenticity of merchandise they offer. And if just so happens you get a fake, their returns policy should sort that out for you.
Have you ever purchased sneakers from StockX? Were they authentic or not? Please share your experiences in the comments section below.