StockX is one of the best-known online marketplaces in the sneaker world, dear community. We have already told you a lot about the reseller in our Sneaker News. In August 2021, the new StockX Seller Program will be introduced, which will change a few things for sellers. We will now take a closer look at this for you.
Authentication
Many resellers are active via StockX, because it is a safe way to sell products there. So far, as some of you may know, it works like this:
After another seller has sent the goods, StockX checks whether they are 100% genuine. Accordingly, StockX then confirms to the respective buyer that the Air Jordan 1 or the new Supreme shirt he wants to buy is authentic and not a fake. If the shoe / product is genuine, it gets a green label with a QR code. This way you can be sure that you are only buying high quality products.
Take a closer look at the authentication process in the video.
How do you shop at StockX?
You have your eye on a special sneaker or a special product in general? You can often find the object of your desire easily via the StockX search bar. You can buy it immediately by using the 'Lowest Price' button or you can make an offer and bid for the shoe.
Once the purchase is confirmed, StockX gets to work. They check if the product you ordered is genuine, as explained in the video above. If they can guarantee 100% authenticity, you'll soon receive a package with your purchase. Super easy, isn't it?
How do you sell on StockX?
You only need to do one thing to sell on this online marketplace: create an account. As a seller, you have to be smart and decide when to put your product up for sale. Of course, demand is constantly changing, which is why the price can fluctuate greatly.
Once your item is sold, you must send it to StockX within two days. You will then be paid once the authentication team has confirmed that your product is 100% genuine. The video below explains everything in detail.
Additional costs as a seller - the four levels
There are currently four levels for sellers. As a new seller, you are in level one and pay an extra 9.5% of your selling price to StockX. This is the service fee that the online portal charges you. If you sell at least three products per year, you will be in level two and pay a 9.0% service fee.
You are a returning seller and know StockX very well because you sell at least 30 products a year? Then you will be placed in level 3. You can also reach this level if you sell products with a total value of $10,000 per year. Then you only pay 8.5% to the company.
Level four is the highest level you qualify for when you have sold 100 products or a total value of $25,000. Only 8% will then go to StockX. This concept will change in August with the new StockX Seller Programme.
StockX Seller Program
On 01 August 2021, the StockX Seller Program will launch, bringing a number of changes for sellers on the digital platform.
The level you are at as a seller is now determined per quarter instead of per year. In addition, the additional costs are increased by 0.5% and a level five is added.
Why this concept is more advantageous for active sellers is explained as follows: When you are in level four or five, you can receive bonuses that reduce your costs. You get such benefits when:
- - at least 60% of your orders are shipped within 36 hours and
- - at least 95% of your orders are shipped on time.
In addition, a new level will be created based on the number of items sold between April and July 2021. In the table below you can see what is expected of you in each level.
If you think that's useful information, then check out our Sneaker News regularly, because we'll provide you with all the news from the scene. It's even easier with our Sneakerjagers app or a little content for your Instagram feed.