StockX gives buyers and sellers access to an open market for luxury goods and collectibles. The site displays products, a suggested price for each, and the option to sell or buy. For each item listed on StockX, you can access the historical data about ask prices, bids, and sales.
Graphs indicate the market trends: is the style going up, or down? Buyers and sellers can study these trends to know when to buy or sell. For their part, StockX accepts, authenticates and ships the goods (for a commission fee).
How you make money
You make money on StockX just like you would in the stock market, except you're trading in physical items like shoes, streetwear, handbags, or gaming consoles, rather than stocks. The goal is to buy low and sell high, and you can use the data provided by StockX on trends and historical pricing to help you figure out what and when to buy and sell.
How StockX makes money
StockX charges sellers a percentage fee for every sale they make on the platform. The fees vary depending on the number of sales a seller has processed with StockX.
Is it safe?
StockX was founded in 2015, and has since raised $690 million in funding. The company has been valued at $3.8 billion, and is likely to go public sometime in mid-2022.
As with all stock trading, there is some risk that you may not make any profit and/or may actually lose your initial investment. Market trends may vary dramatically, and there is no guarantee that an item you purchase will increase in value.