StockX is a live marketplace dedicated to Jordans, Yeezys, and all other #veryrare sneakers.
Sneaker collectors are a tribe of their own — the hype-driven community thrives on countless online forums, Reddit threads, blogs and sites around the world. Now, StockX lets sneakerheads trade kicks just like bankers would on a stock market.
The live market relies on supply and demand to adjust real-time pricing. At the time of writing, the Jordan index is up 12 percent, while the Nike index is down 2.6 percent. CEO and co-founder Josh Luber first create the sneaker-pricing startup Campless, which collected data about the resale market place, analyzed it, and sent reports to customers. Now Campless has been combined with StockX to create a marketplace that lets buyers and sellers trade transparently, seeing every bid, ask, and data point from the entire process.
Users can search for a particular pair of sneakers, or browse by categories such as ‘lowest asks,’ ‘highest bids’, ‘market movers’ and more. Once a transaction has been completed, the seller sends the shoes to StockX, who will verify its authenticity before delivering it to the buyer. The site works as a middleman, so if there are any problems with the trade, users raise concerns with StockX.
The resale industry is estimated at USD 1 billion, and seeing significant growth. What other coveted commodities can have their own stock markets?