How to Win Bids on StockX
StockX has changed the way people buy sneakers forever. Some people use it out of convenience, but most like it because they can find designer models that are otherwise difficult to find. Moreover, there’s something about bidding that makes the whole process more fun.
In this article, we’ll show you the best ways to win bids on StockX. We’ll also share with you the useful tips that will help you get the most out of StockX.
Define What Do You Want
It’s easy to get lost with all those offers on StockX, so it’s essential to define what you’re looking for and how much you’re willing to pay. If you find sneakers that you’ve been wanting to buy for months, it’s normal that you’ll be ready to pay more just to have them. However, if you’re shopping casually, it may be worth taking some time to wait for the best offer.
On the other hand, some people buy shoes for reselling them on StockX or some other website. They’re often willing to pay somewhat higher prices because they believe they can sell them for even higher. Instead of the traditional buy low and sell high, some believe that you can make even more money buying high and selling higher.
As you can see, everything depends on what brought you to StockX, and it’s essential to define your intention before you start.
Let’s make it straightforward: The fastest way to win a bid on StockX is to meet the ask price. You can look at the current asking prices and hit the lowest one. This tactic is fine if you have money to spare and you’ve got to have the sneakers.
However, you might want to check out the existing bids first. Obviously, sellers will hit the bids that are higher than yours first. If you want them to hit your bid first, you’ll have to bid the highest.
That’s not even the most important. You also have to look at the gap between the lowest ask (seller asking price) and the highest bid (buyer bidding price). If the gap is large, you likely won’t win a bid even if you bid the highest. You might have to bid close to the lowest ask if you want to win (which is going to be much higher than the highest current bid if the gap is large).
In any event, you can always be patient and bid somewhere close to the highest bid, regardless of how far it is from the lowest ask.
Even before that, find out whether the sneakers are in your size. As you may know, StockX allows you to bid for each size separately, and the prices often vary a lot.
Here’s what you have to do:
- Click on the sneakers to see more details.
- At the top right corner, you’ll see the current highest bid.
- Click on the green button with the Place Bid sign.
- Enter the amount that you’d like to bid. Remember the advice above.
- Review your bid: You can check whether you’ve entered correctly, and you can also see the total including shipping costs.
- If you’re sure, click on Confirm.
That’s it! Now you have to wait until a seller notices your bid and is happy with it. Sometimes you won’t get an answer immediately and you may even forget that you’ve placed a bid. That’s why you also have to set a bid expiration, which can be one day to two months.
Can I Change My Bid?
You can always change your bid, provided that the seller hasn’t already accepted it. You can either increase or decrease the amount of your bid. Here’s how to do so:
- Open your StockX profile.
- Click on My Bids.
- Find the bid that you want to change.
- Click on the Edit sign.
- Enter the new bid.
Can I Cancel My Bid?
Only if it’s still pending. Once the seller has accepted your bid, you can’t cancel it. This is the reason why you have to enter your billing info before you place a bid. You have to supply a credit card or PayPal to be able to place a bid.
Of course, if the bid isn’t accepted, you won’t be charged. However, even if you forget about your bid, your payment method will be charged if it’s accepted. You will receive a notification and later on, a package in the mail with your sneakers.
StockX is kind of addictive, and it can be tempting to place new bids every day. However, you may not win any bid for a while. Don’t let it discourage you as the market changes every day. The best thing that you can do is to be patient and wait for your opportunity. You’ll soon learn more about StockX and you’ll know what to expect.
Is StockX your favorite place to sell or buy sneakers? If not, what is? Let us know in the comments below.