How does bidding work on stockx

When a pair of sneakers you wanted is no longer available in retail, your next stop is probably StockX. StockX is a huge marketplace for items like high-end sneakers, streetwear, collectibles, and accessories. You can buy from other StockX users directly, or you can place a bid and see if they accept it. These are your two options for buying items on StockX.

StockX is one of the safest apps to buy, discover, and sell authentic sneakers. As a sneakerhead, I always use StockX not only to buy the sneakers I could not purchase in an online raffle system but also to discover the new price of the brand-new sneakers that are released this season. To do so, I, the buyer, look at the price suggested by the seller, the person who owns the shoes, and decide whether the price meets my economic criteria. We can use the concept we learned in class to analyze what type of auction is for StockX. Or a second-price auction? Is it an ascending bid or a descending bid?

How does bidding work on stockx

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This might help you formulate the Bid.

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When you buy through our links, Business Insider may earn an affiliate commission. Learn more. As a sneaker collector, I've been buying and selling sneakers online for a little over 10 years. Things have come a long way from sending postal money orders to people you met on forums with the hope they'll actually send you the shoes in return, or meeting up with strangers to do in-person transactions. But there are still many shady sellers, and fakes are getting even harder to point out. Although I've never gotten the short end of the stick while navigating the murky waters of the online resale market, not everyone is so lucky. Now, with the help of a new startup called StockX , resale transactions are a lot safer — and in some instances, more affordable. Found in by Josh Luber, StockX is a self-proclaimed "stock market of things. I've been using StockX for a few years now and, in my opinion, it's the most seamless way to buy or sell sneakers in the online resale market.

How does bidding work on stockx

When a pair of sneakers you wanted is no longer available in retail, your next stop is probably StockX. StockX is a huge marketplace for items like high-end sneakers, streetwear, collectibles, and accessories. You can buy from other StockX users directly, or you can place a bid and see if they accept it. These are your two options for buying items on StockX. StockX will automatically charge you, and the seller on the other side of StockX will start packaging your shoes or anything else you might have bought. However, if you want to wait a little while for a better price, you have the option to bid on any item. Except in special cases and if StockX approves. Your Bid also has an expiration date.

Yen to dollar history

If the seller does not want to sell at my price, they can still lower the asked price for a compromise. In this case, people do not bid to compete until the highest amount. StockX will automatically charge you, and the seller on the other side of StockX will start packaging your shoes or anything else you might have bought. Leave a Reply Cancel reply Your email address will not be published. September 27, category: Uncategorized. Name required. Select the Bid you want to change and click on the green little pen button on the right. All you have to do is:. Except in special cases and if StockX approves. Enter the changes you want to make. Now, is it an ascending or descending bid?

Searching for a limited edition Nike , adidas , or Jordan Brand trainer? A digital intersection where bidding meets shopping, the Detroit-based platform offers not just a chance to buy, but also an opportunity to engage with the market dynamics of supply and demand.

To do so, I, the buyer, look at the price suggested by the seller, the person who owns the shoes, and decide whether the price meets my economic criteria. Indeed, the users can buy the sneakers by purchasing the product at its lowest ask, the lowest price the StockX seller is willing to sell for. These are your two options for buying items on StockX. The secret behind this strategy is a dominant strategy from the first price auction we learned in class. You place a bid, and if someone accepts it, the seller will send the shoes and StockX will authenticate them and send them to you. Anna Middleton May 15, You can go back periodically to check if the prices have changed and decided if you want to edit your Bid. Scroll down a bit and choose the duration of your Bid as well. At least now you know exactly how to place a bid. Leave a Comment.