“You have the option of placing an offer or selling at the highest bid price available at that time. This marketplace is live, unlike the stock market that does close at certain times, here it is 24-7, you connect with suppliers and sellers from around the world. While someone in Asia, Pacific, for example, they are transacting, here we are asleep and then there they are asleep and here we are transacting, prices move live,” said Rodrigo Mazal, director of StockX for Mexico and Latin America.
On the buyer’s side, you have to access the platform, you can search by category or vertical, for different products such as sneakers, streetwear, collectibles and electronics, etc. After finding your preferred item, you can either look at the same historical pricing information or see the current price of the pair in the specific size you’re looking for and have both. You can buy at that time if the right price is found for you, or you can propose a bid.
In just over six years, StockX has had sales in over 200 countries and territories, and in 2022 it surpassed over 12 million buyers and over 40 million exchanges.
For the products that failed to pass the 50 inspection points that are established to put their authentication seal on them due to being an imitation or a damaged product, they are destroyed so that they are not sold on the market again. In 2022, StockX has rejected nearly $100 million worth of products.