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 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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Is it an ascending bid or a descending 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.

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.

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Leave a Comment. Step 4 Scroll back up and check the Lowest Ask for the price as well. 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. At least now you know exactly how to place a bid. Is it an ascending bid or a descending bid? Entries Comments. 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. Increase or decrease the bidding amount or the expiration date. A bid can stay up the whole time without anyone accepting it. Name required. Skip to toolbar Log In Search. StockX, like other auction systems, uses the notion of bidding. 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. Scroll back up and check the Lowest Ask for the price as well. The secret behind this strategy is a dominant strategy from the first price auction we learned in class.

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.

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. Entries Comments. The secret behind this strategy is a dominant strategy from the first price auction we learned in class. Enter the changes you want to make. After multiple back-and-forth changes of deals, the seller and I will arrive at a price, where I pay the suggested price to the seller. StockX is one of the safest apps to buy, discover, and sell authentic sneakers. 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. StockX will redirect you to a window where they tell you what comes next. Now, is it an ascending or descending bid? Select the Bid you want to change and click on the green little pen button on the right. September 27, category: Uncategorized. Skip to toolbar Log In Search. Name required. 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.