Did Stockx Just Kill The Sneaker Re-sell Game!?

Posted by JAHLEIK STACEY on

Sneaker twitter was burning with anger, and outrage last night! If you're wondering what I'm talking about, let me give you a brief run down on what happened. Stockx, for those who are unfamiliar with the sneaker re-sell giant, is a stock marker for sneakers, long story short. You place your sneakers for sale, based on the demand and market value of that shoe, and once sold, Stockx allows your to ship to their headquarters for free, to authenticate the sneaker. Once authenticated, the sneaker is shipped to the customer. Stockx obviously takes a percentage of whatever the sneaker is sold for, and then the seller receives their payout. Sound amazing to most, but re-sellers have mixed feelings about this company. Because the consumer dictates the value of what a sneaker resells for, people who resell have been obligated, to a certain extenet, to sale based on the market value weather they utilize the Stockx platform or not. Last night Stockx ran a promotion for the Yeezy Butters, which releases June 30th. 5 buyers could receive a free pair of Yeezy Butters, and 5 sellers could have their payouts doubled during this promotion. This move, weather intentional or not, sent the market value of the Yeezy Butter crashing. The Yeezy butters market value was at $380 - $490, and after the promotion went live, the market value dropped below retail value ( $250-$180.) To say the least, resellers were PISSED! Not mention the consumers who purchased ATC cart slots. Last night, a petition was set into play to try and ban Stockx from manipulating the market. Should action be taken? Was this fair? Did Stockx intentionally kill the sneaker reselling industry? Who else does this affect?