Brett Helling is the founder of Gigworker.com. He has been a rideshare driver since early 2012, having completed hundreds of trips for companies including Uber, Lyft, and Postmates.
Since that time, he has expanded his knowledge into the Gigworker site, as well as writing the book Gigworker: Independent Work and the State of the Gig Economy Paperback, now available on Amazon.
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With a net worth reaching $3.8 billion, StockX has made its mark in the reselling market.
Sellers can reap multiple benefits, from a low-hassle sale to a streamlined listing process.
Secure Authentication Process: StockX prioritizes the authenticity of its products from resellers. After a sale, the product is sent to a team to ensure it’s not fake before being sent to the customer.
Anonymous Seller Profile: StockX doesn’t share the buyer’s and the seller’s identity on its platform. It offers privacy protection and prevents bribery and competition among buyers and sellers.
Sneaker Information Available: The listing process is easy since the product’s info and description are already present. You also don’t need to upload any pictures because it’s all available, saving you time.
No Refunds: You don’t have to deal with refunds or chargebacks with StockX since they act as a middleman in the sales transaction.
Problems with Selling on StockX
Before considering selling on the giant platform, it’s worth looking at some problems you may encounter.
Some of these include raised selling fees and security complications.
High Selling Fees: The minimum seller fee in the U.S. market is over $12. Sellers also need to pay a transaction fee, which can reach up to 9.5% of the sale.
Free Market Value: Due to the company’s adherence to a free market, bidders have power over your product’s valuation. They can bid lower than the market price, hurting your profit margins.
High Shipping Fees: The pricey shipping fees can take a toll on your sales. The higher prices can ward off potential customers.
Security Issues: StockX experienced a data breach hacking a hair-raising 6.8 million records. The data included usernames, passwords, software versions, and trading currency.
What You’ll Need to Sell on StockX
The good news is that you don’t need much to sell on StockX. Aside from your product, all you’ll require are shipping products.
Your Item: Whatever you’re selling, whether sneakers, shoes, collectibles, or trading cards.
Shipping Box: You’ll need a well-fitting box to place your product in, even if you have a shoebox.
Packing Tape: Don’t use duct, cellophane, or masking tape.
Protective Packaging: Ensure your product is well-protected by using bubble wrap, packing peanuts, padded divider sets, packaging foam, or packing paper.
Shipping Label: The shipping provider will provide this.
Invoice: Once you make a sale, print the invoice to place it with your package.
What to Sell on StockX
StockX is prominently known as one of the best places to sell shoes, but it specializes in other items.
You can sell apparel, collectibles, trading cards, and more.
Shoes
StockX is an ideal platform for reselling shoes and sneakers. The site holds multiple brand names, such as Crocs, Nike, Yeezy, and Adidas.
Why This Product Sells Well
Around 5% of StockX sneaker and shoe buyers resell their products.
Besides that, users often buy shoes to get their hands on limited-edition options.
Sneakerheads don’t mind paying premium prices, which has led to the growth of the shoe reselling market.
It increases demand, leading to frequent sellouts. Then, it results in scarcity and price hikes.
Cultural significance also drives these shoes’ demand. Some models, especially with celebrity collaborations, are highly sought-after. Brand names like Nike and Jordan are undefeated in the sneaker market thanks to their impressive marketing campaigns.
Apparel
StockX allows you to sell luxury apparel options. You can list hoodies, t-shirts, shorts, and socks.
The platform holds notable brands like Palm Angels, Gucci, The North Face, and Off-White.
Why This Product Sells Well
Similar to shoes, the apparel on StockX is limited edition and in high demand. Collectors and brand enthusiasts would jump at the chance to buy choices, such as a Gucci and The North Face collaboration t-shirt.
Aside from the economic aspect, buyers may want to purchase these brands to exhibit a particular fashion sense.
They usually strive to achieve an image, such as a cutting-edge techie or professional businessman.
Trading Cards
StockX sells a variety of trading cards, such as basketball, football, and hockey.
The reselling site also offers old game cards like Yu-Gi-Oh! and Magic: The Gathering.
Why This Product Sells Well
The trading card market is booming.
Some sports cards, once valued at around $70 to $130 in the 90s, are now worth six figures.
These spiked valuations are driving the sports card business high.
Go to your basement and dust off your old trading card shoebox. You could hold a mini fortune there. Your buyers see these cards as tangible stocks or a blast from the past.
Collectibles are items sold for much more than their original value, usually because of their scarcity and popularity.
These investable items can be anything, like a doll, a Lego set, or even a toy car.
Why This Product Sells Well
People buy collectibles for several reasons. They may be passionate about the item.
For instance, products like the Lego Star Wars collection may appeal to you if you’re a devoted Lego fan.
In other cases, collectors might be looking to diversify their investment pool. Collectibles can appreciate, giving buyers more reason to collect them.
How to Sell on StockX: Step-By-Step Instructions
Whether starting a shoe business or liquidating your trading card assets, selling on StockX is an ideal online marketplace solution.
Step 1: Create an Account
You need to choose among four registration options to create your account. They include signing up with your:
Facebook account
Google account
Traditional email
Twitter account
Apple ID
After choosing your sign-up method, register your information, location, and payment method.
Next, verify your email address for further authentication.
Step 2: List the Product
Click on “Sell” in the top right corner of the site.
The platform will prompt you with an instructional step-by-step and a transaction penalty caution.
Click on “I understand.”
You’ll now see a search bar where you get to choose the product you want to sell.
Enter the model of your item and hit search. You’ll get the option to “buy” or “sell.”
Choose “Sell” and pick the size if selling apparel or sneakers.
You can find the price history of the product below. It can help you analyze the product’s valuation over the years.
Step 3: Price Product
You can find an option to view asking and bidding prices on the same page.
You’ll also notice a “Sales” button which displays the transaction history of the product.
These features can help you place a competitive price on your product.
After you’ve picked your value, click on “Sell.”
Step 4: Go Live
You’ll now have the choice to “Place Ask” or “Sell Now.”
In the latter’s case, the price is non-changeable. You’ll engage in the bidding process when you place an asking price.
The product will display the “Lowest Ask” and “Highest Bid” to help your decision.
Look below the pricing tabs to see the breakdown of the transaction.
It’ll show you the transaction and payment processing fee percentages and the amount taken off your price.
There’s also a shipping option below them, but it’s free on the seller’s end. The “Total Payout” is the amount you’ll receive from the sale.
You’ll find the “Ask Expiry” to place a time limit on the asking price.
After completing the information, click “I agree.” The site will prompt you with a “Success” page.
Step 5: Accept Bids
As your asking price goes live and the bids begin, you can start to accept them.
The sale is automatic if you generate an offer matching the asking price.
If you want to change the asking price, you can update it.
You can lower the amount, especially if you wish to sell your product more quickly.
Step 6: Shipping
After getting a sale, it’s time to ship your product to StockX for the authentication process.
You have two business days to send your item.
You can schedule a UPS pickup to your home or office or visit your nearest UPS store location.
How to Package Your StockX Product
Following these steps is critical to avoid any errors in the transaction.
Stick your printed invoice inside the item’s container.
Put your product in a larger box leaving about two inches on either side.
Place bubble wrap or shipping paper around the product for protection.
Secure the box with packing tape using the H-method on the top and bottom sides.
Tape the shipping label on top of the box.
Shipping Don’ts for StockX
When packing your product, don’t
Only send the shoebox
Neglect the shipping label
Forget the packing paper and bubble wrap
Use hazmat stickers
Send personal items
Use an ill-fitting shipping box
Send shoes without a shoebox
If the product fails to meet the condition requirements, you’ll get a 15% charge and a $15 penalty charge.
Step 7: Receive Payment
Once StockX approves your package, you’ll receive your payout.
If your product is eligible for the Early Payout criteria, you’ll get your payment earlier.
StockX’s payment options include PayPal, bank transfers, Venmo, electronic ACH, or debit.
Things to Consider When Selling on StockX
Reselling your items on StockX is a seamless process, but there are some considerations worth stressing.
Penalty Fees
StockX charges penalty fees equivalent to 15% of the transaction fee or $15 if you don’t ship your item within two business days.
You will also incur this fee if the product is fake or doesn’t meet the packaging guidelines.
Transaction Fees
StockX transaction fees depend on your seller level. Your level rests on the number of products you sell per given quarter.
For instance, if you sell over 25 products, you’re at level 4. In turn, your products will sustain an 8.5% transaction fee.
Authentication Process
The authentication process is a critical step in every transaction you make.
StockX asks sellers to adhere to strict packaging requirements to avoid penalty fees. You also need to ensure the authenticity of your product.
For example, if you’re selling sneakers, check their SKU number. If the number matches the one on the shoebox, it’s real.
Frequently Asked Questions
Is it Worth it to Sell on StockX?
StockX’s bidding option allows you to widen your profit margin.
You also need to be wary of low bidders.
Besides that, the fees involved are similar to competitors.
You can build a profitable side hustle with StockX if you continue to buy and resell.
Is it Easy to Sell on StockX?
Selling on StockX offers a streamlined process.
You don’t need to enter a description, market your product, or upload pictures.
You can price your product based on the available asking and bidding amount or use the price history information.
The company also handles the shipping process and refund transactions.
Similar Tutorials to Check Out
If StockX doesn’t fit your business model, you can explore multiple alternative platforms to sell your products online.
How to Sell on Poshmark: Poshmark specializes in apparel reselling, whether it’s second-hand or new clothing items.
How to Sell on Etsy: If you have handmade goods, crafts, or vintage items to sell, Etsy is your solution.
How to Sell Sneakers for Cash: Aside from StockX, you can list your sneakers on eBay, flip them, or sell them to a consignment store like Fight Club.
Wrapping Up
By using our step-by-step guide to sell on StockX, you’ll reduce the chances of issues.
The process involves creating an account, searching for your item, listing it, deciding on a price, and going live.
Once you find a winning bidder, you’ll want to adhere to StockX’s shipping policy. You’ll then receive your payout.
Let us know if you have any questions in the comments below.
Overall, using StockX as a middleman provides resellers with a practical medium while reassuring the buyer with a fake-proof transaction process.
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