There is trash in cash. This popular phrase is true in today’s online marketplace, where you can find various platform options for selling used or pre-loved items. Instead of collecting dust in your closet, you can turn these unused items into money!
But which website should you go to sell items and build an online store? eBay usually comes to mind first.
While eBay is popular, many sellers are looking for an alternative platform to increase their income. eBay is a popular as an online marketplace because of the high volume of traffic to the website daily and monthly.
So, which is the better platform: eBay vs Stockx?
Join me as we delve deeper into this Stockx marketplace and discover if it’s a suitable alternative to eBay for selling online.
Article Overview
How Does Stockx Work?
Buying
Selling
Selling Levels on Stockx
eBay vs Stockx: Comparison Guide
Features
Authenticity Guarantee
Fees
Conclusion
How Does Stockx Work?
Stockx is an online marketplace that allows you to buy or sell products online. This platform provides various product selections, such as sneakers, collectibles, accessories, electronics, trading cards, etc.
There are two options available for Stockx, depending on whether you want to buy or sell.
Buying
To buy an item on Stockx, you must first place a bid on an item or purchase it directly (for those listings with a Buy Now option).
Once you place your bid or order, the item will go through the multi-step Stockx verification process. If the item passes verification, the seller can ship the item to the buyer’s address.
The advantage of buying on Stockx is that buyers have power over the price. It is a live marketplace allowing buyers to bid for an item they want to purchase. Prices are updated in real-time, so you know exactly how much other buyers will pay for the item and the current demand.
Selling
To sell an item, you must list it on the platform with a price (the Sell it Now option) or set a minimum bid. When a buyer places an order for the item, you must ship it to Stockx for it to undergo verification. The platform is responsible for verifying and shipping the item to the customer. You will be paid for the item once it is shipped to the buyer.
Whether you want to earn quick money from selling items or build an online store empire, several tools are available to help sellers succeed through the platform.
First and foremost, you don’t need to go through an approval process before you can sell. Once you register an account, you can start listing items to sell. You must also select your ideal payment method, and you can get paid through that channel for every successful sale or transaction.
As a seller, you have control over how you sell your items. You can place an Ask or Sell Now listing for an item.
- Ask – It refers to the fixed price value of an item you sell. It also determines the lowest amount you will accept for that sale based on its worth. Therefore, buyers interested in that item must meet the lowest asking price.
- Sell Now – This option to sell on eBay is the most straightforward manner of selling an item on Stockx. It immediately sells an item to the buyer with the highest bid, even if it is lower than the “Ask”. If you like the current offer and you feel it is equal in value to the quality of the item you are selling, then choosing this option makes it easy for you to get paid for an item.
Stockx is serious about maintaining its reputation as a reliable and legitimate online marketplace. Therefore, the website strictly implements the seller cancellation penalty on the website. All sellers are charged 15% of the transaction price (or at least 15 USD and its local equivalent) if they fail to ship the item within two business days or if it fails the verification process.
Selling Levels on Stockx
Whether you want to resell on Stockx or grow an online store, you have a few selling options on this marketplace. You can choose the subscription level on the platform based on your sales goals and the selling tools you want access to.
Level 1
There are no sales requirements to reach this level. However, it also has the highest transaction fee per sale, 10%.
Level 2
To qualify for level 2 on Stockx, you must have sold three items or the equivalent of $500. The transaction fee for level 2 sellers is 9.5%.
Level 3
Sellers need to have six sales or reach total sales of $1,500 to qualify as a level 3 store. The transaction fee at level 3 is 9%, and you can enjoy bulk shipping in select countries or regions.
Level 4
A level 4 store is any seller with at least 25 sales or equivalent sales earnings of $5,000. The transaction fee at this level is 8.5%, with up to 2% off seller fees. You can also get bulk shipping and early payout benefits in select countries or regions.
Level 5
The level 5 is the highest store level available at Stockx. It is available to sellers with at least 250 sales and is equivalent to $30,000. The transaction fee is 8% with up to 2% seller fee bonus. Other perks and rewards include bulk shipping and VIP account management.
Level 5 sellers can access advanced tools on Stockx, such as the bulk management tool, to efficiently manage multiple items in your store. These sellers can also access the Scout tool, which makes inventory management and cross-selling highly efficient through the platform.
Essentially, high-volume sellers on Stockx enjoy more benefits and rewards.
- Early Payouts – You will get paid on your account as soon as you ship your items to the buyer (no need to wait for the verification process completion).
- VIP Account Management – It gives top sellers access to White Glove Account Managers that help resolve issues, integrate feedback into product development, and provide resources for business development.
- Bulk Listing & Editing – Streamline the product listing process to your online store with just a few clicks. Save time without manually listing and editing your products.
- Export Orders and Sales History – Develop a more effective business strategy by extracting data from your online store to maximize sales potential for the future.
eBay vs Stockx: Comparison Guide
Which is better: eBay vs Stockx? Let’s look at the individual aspects of these online selling marketplaces to help you pick the right platform to sell online.
Features
Both eBay and Stockx are platforms for sellers and buyers. People can register an account to buy or sell from the website.
Their features have certain similarities, starting with the listing options. They have both the bid and fixed price listing format. Therefore, it is a good option for sellers who want more control over how much they make, especially if they have unique or collectible items. You can set a price equivalent to an item’s estimated worth.
It also appeals to customers looking for unique items, such as those who want to buy stuff that are collectibles or no longer reproduced.
Authenticity Guarantee
When reselling items, such as old and vintage sneakers, it is important to have an authenticity guarantee. This program is available to both sites, giving customers more confidence in buying from the said platform, knowing they are paying for something authentic.
eBay offers an authenticity guarantee wherein products, including sneakers and handbags, undergo a multi-step authentication process. This service ensures all products sold through eBay, especially the high-value items, are authentic and not fake.
On the other hand, Stockx also offers a verification process for all items on the website. It reassures customers that they are paying for a legitimate item. The seller must pay 15% of the transaction fee if the item fails the verification process. That’s how seriously the website protects its reputation as a live marketplace!
Fees
For most sellers, the fees are important when choosing the best online marketplace.
With eBay, you can get a free account but are limited in the number of product listings on your store. The store subscription level varies in the monthly payment and the number of listings you can add to your eBay store. If you exceed the number of allowable listings, you must pay an insertion fee or listing fee for each. In addition, you have to pay final value fees and other associated fees, depending on the type of item or the amount of sales. You can learn more about the fees and costs of running an eBay store to help you decide if it is the best option.
With Stockx, there are two types of fees: the payment processing fee (3%) and the transaction fee. The transaction fee varies according to your current store level. The higher your store level is, the lower your transaction fee. The transaction fee ranges from 8% to 10%. The transparent and fixed fee structure makes it easy for sellers to calculate how much they will earn for each sale on this site.
Conclusion
Deciding between eBay and Stockx will depend on how many products you want to sell, your profit targets, and your overall business goals. From the business sense, both platforms have their benefits and drawbacks that you must consider.
Regardless of which platform you choose, it comes down to optimising your listings and providing excellent customer support to your buyers. Maintaining good feedback and overall customer relations will earn the trust of your buyers, whether you sell on eBay or Stockx.
