StockX is the marketplace of things to buy authenticated deadstock sneakers, luxury handbags, watches and now streetwear, too!
In the past, sneakerheads had to buy their retro deadstock sneakers on eBay and eBay clones, taking their chances with authenticity and iffy sellers. Same is true for fans of luxury handbags, watches and other accessories. And don’t forget lovers of hot streetwear items. The craze is just as real as what sneakerheads face. Auction sites try their best to make sure there are no imitations but it’s still rampant, even, surprisingly, on non-auction sites like Amazon.
StockX was conceived to eliminate the risk and bring together buyers and sellers, playing middleman to make everyone comfortable and to keep things real. StockX bills itself as “The Stock Market of Things where you can buy and sell deadstock Adidas Yeezy, NMD or Retro Jordans, Supreme Streetwear, luxury handbags, and watches in excellent condition.” Potential buyers float what they’re willing to offer for a product. A seller of that product can accept the price. The folks at StockX then receive the product, authenticate it, release the buyer’s money to the seller and then, as the StockX site says, “You sip a daiquiri, knowing you will never get a fake.” With the addition of streetwear like Bape and Supreme, StockX is cornering the market on deadstock auctions.
We had a chat with CEO, Co-Founder and avid sneaker collector, Josh Luber (who, it should be noted, delivered the world’s first TED talk about the resell sneaker industry) to find out more on the internet’s newest luxury goods hotspot.
Tell us about the premise for StockX.
StockX was originally launched as a partnership between myself, Greg Schwartz (COO) and Dan Gilbert. Greg had experience launching previous tech companies, so brought past knowledge and experience to the table. Dan took care of the finances and myself, the sneaker expertise. I had previously founded the company Campless, which was basically a sneaker price guide or KBB for sneakers. This site worked by pulling analytics from eBay to track trends in sneaker purchases and sales. The data provided by Campless was used to develop the framework for the launch of StockX.
How is the secondary sneaker market doing in your opinion?
We value the sneaker secondary market at $6B globally. With the boom in social media, it has become easier for sneakerheads to find, trade and flip shoes from their collections. This has also made the market more mainstream, which adds to the success of brands such as Kanye West’s Yeezy lineup. With this growing market, it became harder for people to find reliable outlets to purchase and sell authentic sneakers. This is where StockX comes in. We provide a simple platform that provides full transparency on the value of goods, while guaranteeing authenticity.
Tell us about the addition of brands like Bape and Supreme.
Streetwear was the perfect next step for StockX. The streetwear and sneaker demographics are quite similar, so we already had a strong base built from our sneaker vertical. Once we were able to find brand experts to lead our authentication teams, the actual launch was easy. We currently offer Supreme, Bape, Palace and Kith.
What new brands can we expect in the near future?
We are focusing on growing our current verticals, which include streetwear, sneakers, watches and handbags. As we continue to grow, we plan to add additional authentication centers around the globe to expedite the shipping and authentication processes and fill more than 50 open positions.
What is currently the hottest StockX item/ask/sell?
Our most popular sneaker is the adidas Yeezy (Kanye’s line). The most expensive sneaker that we have seen come across our platform is the Nike Air MAG 'Back to the Future', which sold for more than $30,000. We currently have a Patek Philippe Sky Moon 5002P watch listed on the site with an ask of $850,000. That’s pretty huge.
Anything else our readers should know?
We really do see StockX as the future of e-commerce -- a transformative platform that harnesses the power of stock market mechanics to allow for efficient pricing and seamless, transparent, and anonymous transactions. We're seeing that user-focused strategy pay off in our growth -- in just two years, we've grown from 20 employees to more than 200 and we continue to hire for open positions as we build.