StockX vs GOAT Fees – Which is Better?
StockX and GOAT are both excellent online sneaker markets. On StockX, you can buy and sell accessories, streetwear, watches, and collectibles. GOAT only focuses on sneakers, and it is doing quite well.
StockX and GOAT are both very good, but what their differences? How do their fees compare for sellers? What about the shipping? If you want to know the answers to all of these questions, you are in the right place.
Read on for an in-depth comparison of the two sites.
StockX Basic Information
Becoming a sneaker reseller on StockX is simple and doesn’t take much time. The site is well-organized, and your work is minimal. You need to place the shoes you want to sell on the website and wait until you find a suitable buyer.
StockX completes the process of authentication for you. They even have the listings, so again, you have to do very little to get started. You don’t need to build a reputation since all the buyers and sellers are anonymous.
You’ll be able to see the bids on the shoes you’ve posted. If you want, you can sell to the highest bidder instantly. When you are putting shoes up for sale, you can set an asking price. This way, an interested buyer can buy out the product instantly without having to bid against others.
As for the prices, StockX has made things easier in that regard as well. There are listings for all the shoes available on the website, which helps both you and the buyer.
You need to ship the shoes to StockX for authentication only when the sale goes through. StockX will provide you with all the necessary information. If the company deems your product authentic, they will send it to the buyer.
Then, you will receive the money, which should be in up to three workdays. The authentication process takes some time, though, so be patient.
GOAT Basic Information
If you want to become a sneaker reseller on Goat, you’ll have to be patient. The process is not as easy as with StockX. GOAT approves all of its sellers, so you need to wait until you pass the screening. Many people want to work with GOAT, so you’ll likely have to wait a while.
When they approve of you, you can start selling on the site. First, you’ll need the SKU number for your sneakers, and second, you need to post pictures of what you’re selling. See, StockX does all of that for you, but GOAT is different.
Additionally, you need to describe your sneakers in great detail, of course, describing their condition. You must be honest if you want to succeed on GOAT.
At least GOAT has a pricing tool to help you out. Here is a piece of advice – if you want to sell your shoes faster, send them for verification first. GOAT will send you a label for shipping so you can send the sneakers fuss-free.
Authentication also lasts longer than with StockX. After your product gets verified, you can sell it on the GOAT website. There are Android and iOS GOAT apps, but they are for buyers only. You’ll have to wait longer to get paid on GOAT than on StockX.
StockX vs GOAT Fees
Finally, let’s discuss the fees. StockX has a fixed transaction fee for all sneakers, which is 9.5%. The fee decreases as you increase your reputation on the site, i.e., make more sales. With just three deals, the fee drops by 0.5%. The next 0.5% decrease is after 30 sales, and the final one is after 100 sales.
That means that the lowest transaction fee on StockX (for sneakers) is 8%. In addition to that, there is a fixed fee for payment processing, which is 3%. So, when you begin selling on StockX, you’ll have to pay 12.5% of your earnings, which is pretty steep.
Let’s see how that compares to GOAT fees. The seller fee is fixed, and it depends on your location. In the US, it is very reasonable, $5. In the UK it’s $12, in Canada, it’s $20, etc.
The fees seem very low, but that’s not all. There is also a commission fee for every sold item. The commission fee is 9.5% for sellers with a solid reputation. This number can increase by up to 25%, depending on the status of the seller. Many canceled orders and verification problems can also increase the fees.
Finally, there is a cash-out fee when you decide to collect your money from GOAT. This fee is 2.9% of the amount, which has to exceed $25.
Who’s the Winner?
It is difficult to proclaim a winner since both StockX and GOAT are excellent sites. Both are reputable, and without a doubt, the best places to buy and sell sneakers online. However, if we are only looking at the fees, StockX seems better.
They have lower fees, and it is also easier to start selling on this website, even if you haven’t built your reputation yet. You’ll have to send your products for verification too, but it won’t take as long as with GOAT.
What do you think? Who’s the winner in your book? Have you worked with StockX or GOAT in the past? Let us know in the comments below.