How does bidding work on stockx

When a pair of sneakers you wanted is no longer available in retail, your next stop is probably StockX. StockX is a huge marketplace for items like high-end sneakers, streetwear, collectibles, and accessories.

StockX is one of the safest apps to buy, discover, and sell authentic sneakers. As a sneakerhead, I always use StockX not only to buy the sneakers I could not purchase in an online raffle system but also to discover the new price of the brand-new sneakers that are released this season. To do so, I, the buyer, look at the price suggested by the seller, the person who owns the shoes, and decide whether the price meets my economic criteria. We can use the concept we learned in class to analyze what type of auction is for StockX. Or a second-price auction? Is it an ascending bid or a descending bid? StockX, like other auction systems, uses the notion of bidding.

How does bidding work on stockx

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But if you love hunting for the best price, spending some time and effort might pay off.

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When you buy through our links, Business Insider may earn an affiliate commission. Learn more. As a sneaker collector, I've been buying and selling sneakers online for a little over 10 years. Things have come a long way from sending postal money orders to people you met on forums with the hope they'll actually send you the shoes in return, or meeting up with strangers to do in-person transactions. But there are still many shady sellers, and fakes are getting even harder to point out. Although I've never gotten the short end of the stick while navigating the murky waters of the online resale market, not everyone is so lucky. Now, with the help of a new startup called StockX , resale transactions are a lot safer — and in some instances, more affordable. Found in by Josh Luber, StockX is a self-proclaimed "stock market of things.

How does bidding work on stockx

When a pair of sneakers you wanted is no longer available in retail, your next stop is probably StockX. StockX is a huge marketplace for items like high-end sneakers, streetwear, collectibles, and accessories. You can buy from other StockX users directly, or you can place a bid and see if they accept it. These are your two options for buying items on StockX. StockX will automatically charge you, and the seller on the other side of StockX will start packaging your shoes or anything else you might have bought. However, if you want to wait a little while for a better price, you have the option to bid on any item.

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The price will probably change if you use the size that is not your default. Or a second-price auction? StockX is a huge marketplace for items like high-end sneakers, streetwear, collectibles, and accessories. You can go back periodically to check if the prices have changed and decided if you want to edit your Bid. Let us know in the comments section below. Scroll down a bit and choose the duration of your Bid as well. To do so, I, the buyer, look at the price suggested by the seller, the person who owns the shoes, and decide whether the price meets my economic criteria. The secret behind this strategy is a dominant strategy from the first price auction we learned in class. It is a slightly different situation for StockX. However, certain sellers put their sneakers on the market asking for an insane amount of cash, which is where we buyers use bidding. Except in special cases and if StockX approves. But what makes StockX different from any other website where you can buy sneakers and high-value accessories on? However, the usual case is that once the rare sneaker is purchased, the other sellers of the same sneaker will raise their lowest ask because they realize the rising demand for their own sneakers. StockX will automatically charge you, and the seller on the other side of StockX will start packaging your shoes or anything else you might have bought. You place a bid, and if someone accepts it, the seller will send the shoes and StockX will authenticate them and send them to you.

Searching for a limited edition Nike , adidas , or Jordan Brand trainer? A digital intersection where bidding meets shopping, the Detroit-based platform offers not just a chance to buy, but also an opportunity to engage with the market dynamics of supply and demand. For those not familiar with the mechanics, the process might seem daunting.

This might help you formulate the Bid. Now, is it an ascending or descending bid? The secret behind this strategy is a dominant strategy from the first price auction we learned in class. Indeed, the users can buy the sneakers by purchasing the product at its lowest ask, the lowest price the StockX seller is willing to sell for. Mail will not be published required. You can buy from other StockX users directly, or you can place a bid and see if they accept it. You will see your Purchase History as well as all the live bids you have at the moment. But if you love hunting for the best price, spending some time and effort might pay off. As a sneakerhead, I always use StockX not only to buy the sneakers I could not purchase in an online raffle system but also to discover the new price of the brand-new sneakers that are released this season. Scroll back up and check the Lowest Ask for the price as well. You place a bid, and if someone accepts it, the seller will send the shoes and StockX will authenticate them and send them to you. Due to its popularity, StockX has been one of the most popular resell markets around the world. Entries Comments.