Is StockX legit? StockX is an online marketplace for sneakers, electronics, and watches. If you are wondering if the platform is genuine, read on, and find out.
StockX is a legit online marketplace for sneakers, watches, electronics, and streetwear. The company was formed to sell items that are going up in value. For sellers, it became the best place to sell legitimate goods without being scammed, and for buyers, it is a platform that protects you from buying fake goods.
The company has continued to grow; in 2020, it introduced new items such as watches, sports cards, and electronics.
Is StockX a Legal Resale Market
Yes, StockX is a legal resale market. The company is registered and fully complies with all applicable laws and regulations. Besides, all their listings are from verified sellers vetted by a team of experts.
The company does not condone theft. If you have an issue with any seller on the marketplace, don't hesitate to contact StockX via email or phone at 1-800-637-5269. They will investigate.
StockX was formed in 2015 in Detroit, Michigan, by Greg Schwartz, Dan Gilbert, Josh Luber, and Chris Kaufman. The founder intended to bring transparency and accountability to online shopping.
The platform has employed about 1,000 people and is available in 197 regions globally. It also sells designer watches, electronics, and handbags. It is among the top 10 websites that upper-class Gen Z guys frequent.
How Does StockX Work?
- Place A Bid Or Buy Now. First, you have to create an account and connect a payment option. Then browse through and find the items you like to buy. You can either place a bid or pay the asking amount.
- StockX verification. After paying for your products, you will have to wait for verification and authentication.
- Shipping of the order. After passing all the authentication procedures, the item will be shipped to your address.
- Place an Ask Or Sell Now. After placing an ask or sell now, you will wait for a buyer to buy your item.
- Ship Your Sold Item. After the buyer has paid, you will ship the order to StockX for verification.
- Verification and payment. The item will thoroughly investigate to determine if it is legitimate. Afterward, you will be paid.
How Does StockX Verify the Authenticity of Shoes?
Six authentication centers have been established worldwide to ensure every item is put through a rigorous, multi-step verification process.
First, StockX's marketplace only accepts brand-new and unworn items. Next, a thorough analysis of the material's construction using checklists with more than 100 data points is performed. This procedure guarantees an accuracy rating of 99.95%.
StockX uses machine learning to help its authenticators notice even the smallest details. The item you buy will be entirely Boxfresh with all of its accessories.
Additionally, StockX has an extensive database that is updated regularly and keeps their team informed if they receive a counterfeit.
Pros and cons of StockX
Even though StockX has beneficial features, there are some elements that sellers would like to avoid. Due to this, many resellers sell on other platforms and only utilize StockX for its analytical data. They include.
- Free market. The free market allows consumers to decide how much sneakers are worth. Therefore, they can submit bids below the average market value, reducing a shoe's value on the website.
- High selling fee. The cost of selling at StockX is higher than on other platforms. Sellers are charged a 9.5% seller's fee for every item. The platform has also raised shipping costs and processing fees, which results in less money in the seller's pocket.
How Long Does StockX Take to Deliver an Order?
StockX generally aims to execute all orders within 7 to 12 days, excluding weekends and holidays. However, there may be delays since the item has to be shipped for verification before sending to the buyer.
Legitimate checkers may also take extra time on items to ensure they are not counterfeit. The item will undergo additional tests and inspections to ensure that what you receive is unquestionably authentic.
Can StockX Cancel an Order?
StockX cannot cancel your order once a seller has accepted the bid. This helps maintain the platform's trustworthiness, encouraging seller confidence in the market.
Does StockX Support Returns
StockX does not accept returns. They do not allow customers to do direct product returns because the business is a live market. At the absolute least, you can recover the cost of shipping.
You can resell the item since it underwent an authentication process and is certified.
Q. What payment method does StockX accept?
You have a variety of payment methods you can choose from. The platform will accept most credit/debit cards in the market such as, American Express, MasterCard, Visa, JCB, Discover, and UnionPay.
Additionally, the website allows payments using Apple Pay, PayPal, Google Pay, Alipay, Sofort, Venmo, and iDEAL.
Q. How much freight does the seller have to pay?
The shipping cost increased by 4 for all the single items. Sellers are charged between 6 and 10% base fee. A level 1 seller will be charged 10 %, while a level 4 can be set as low as 6%.
Besides, the amount sellers pay for shipping depends on the size, quantity, and shipping cost determined by shipping partners, location, and the item's price.
Q. Does StockX provide coupon codes?
Yes, StockX provides a range of coupons on their best-selling items. You can receive a discount of up to $300 for watches or up to $50 on a handbag on your first purchase.
StockX is a legit marketplace that guarantees sellers and buyers of legit trading. Buyers can be sure they will sell their products without being scammed and buyers are guaranteed authentic products.