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.

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? StockX, like other auction systems, uses the notion of bidding.

How does bidding work on stockx

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For example, if you want to buy a pair of sneakers, these are the exact steps you should follow:.

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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.

How does bidding work on stockx

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.

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You can have a bid go through unexpectedly, or you could sit on something for too long and end up paying the highest possible price. However, if you want to wait a little while for a better price, you have the option to bid on any item. September 27, category: Uncategorized. But what makes StockX different from any other website where you can buy sneakers and high-value accessories on? But if you love hunting for the best price, spending some time and effort might pay off. However, certain sellers put their sneakers on the market asking for an insane amount of cash, which is where we buyers use bidding. You will see your Purchase History as well as all the live bids you have at the moment. Scroll down a bit and choose the duration of your Bid as well. You can buy from other StockX users directly, or you can place a bid and see if they accept it. StockX is one of the safest apps to buy, discover, and sell authentic sneakers. Your Bid also has an expiration date. Step 5 StockX will redirect you to a window where they tell you what comes next. In this case, people do not bid to compete until the highest amount. Name required. From here, we know that the auction system of StockX is the first price system, where the person who bids the highest obtains the sneaker.

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. For those not familiar with the mechanics, the process might seem daunting.

However, the usual case is that once the rare sneaker is purchased, the other sellers of the same sneaker will raise their lowest ask because they realize the rising demand for their own sneakers. Google Search. Leave a Comment. Leave a Reply Cancel reply Your email address will not be published. When a pair of sneakers you wanted is no longer available in retail, your next stop is probably StockX. 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. 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. Entries Comments. While other auctions have the ascending first price auction for players to outbid each other until the highest bidder comes out, StockX already provides the lowest ask. StockX, like other auction systems, uses the notion of bidding. But if you love hunting for the best price, spending some time and effort might pay off. This might help you formulate the Bid. For example, if you want to buy a pair of sneakers, these are the exact steps you should follow: Step 1 Open the StockX website and search for a pair of sneakers you want to bid on. Is it an ascending bid or a descending bid?