StockX scamming? How is this legal?

[dblplay1212]

I know we have a StockX thread but this would get lost in there. This has been going for a year or longer but today's example is so egregious that I finally made a thread.

Situation: I bought a pair of am90's about 4 years ago, never wore them, now I'm downsizing to make some room, and listed them on StockX. This morning they sold for $700.

But when you go to the StockX product page, it says they sold for $1043!?!?!?

It's a pretty limited shoe, like 84 pairs made iirc, so not a lot of sales on there. Here's me buying it for $500 in 2020 and then the sale of the same exact shoe today. It cant' be argued it was pulled from somewhere else. The timestamp on their site is exactly the same as the email I received. It's the same transaction.

My first thought was maybe they are adding fees. But even a bid of $700 is only $817 with fees.

So where on earth is this $1043 coming from? It looks like nothing more than market manipulation to look like it sold for way way more than it actually did. Maybe someone paid 1043 of some other currency in Europe? But they aren't showing that, they are showing it in dollars. The shoe did not come close to selling for $1043usd. How is this legal?

 

[dblplay1212]

Another example...

My sale history:

What they show as sales history:

I can go on and on and on.

 

[dblplay1212]

Then sometimes they'll show the actual sales price.

Sale:

Sales history:

So you really don't know if what you're looking at is actually sales or just complete ******** they made up.

 

[TSCQ]

Digital Pricing Deception and digital pricing manipulation is the name of the game.

 

[dblplay1212]

Good talk, guys.

 

[Belgium]

Interesting.
I'm no lawyer, nor an American, but what you're showing there definitely does not look like a legal practice.

Perhaps something like the statute below could apply? I'd need to look into it more but I assume there's probably something along these lines that makes it illegal to falsify a sales price.
If I understand correctly, the actual sales price is only visible to you (and I assume the buyer), correct?
If this doesn't fall under some sort of illegal market manipulation, I also wonder how this affects their accounting. Are they merely falsifying the publicly displayed sales price, or are they falsifying their accounting books as well? Either way that does not look legal.

Edit: Is it possible they collect sales data from other regions/sources and adjust prices accordingly? As in monitoring the sales of this particular shoe model on other exchanges like eBay.
Theoretically that could also explain the discrepancy. Even that hypothetical sounds very shady to me though, and there's zero indication that this is is what's going on.
https://www.law.cornell.edu/uscode/text/7/9

7 U.S. Code § 9 - Prohibition regarding manipulation and false information​

 

[finessence]

Exactly. Falsifying those sales prices, means they’re cooking the books and probably not properly documenting how much they’ve earned. That’s definitely fraud

 

[finessence]

If you sold an item at $700, at a 5% commission fee, for instance, that’s $35. But if they say it sold for $1000, that’s $50. Meaning they pocketed an extra $15 by lying about the actual amount. That’s crazy

 

[RyGuy45]

OK, I just went in from my location and looked your sale up and it is now listed as $700 sale price, 2/20/24, SZ 11

Your Safari AM1 is back down to correct $780 as well.

 

[703 hwy]

Interesting

 

[dblplay1212]

OK, I just went in from my location and looked your sale up and it is now listed as $700 sale price, 2/20/24, SZ 11

Your Safari AM1 is back down to correct $780 as well.

Where are you? I'm in the USA and it still shows $1043 for me. I sold this shoe for $700.

Nike Air Max 90 maharishi maha Olive

Buy and sell StockX Verified Nike shoes on StockX including the Nike Air Max 90 maharishi maha Olive Men's and thousands of other sneakers with price data and release dates.

stockx.com

 

[dblplay1212]

Safari still shows $914, not $780.

 

[dblplay1212]

What's really weird is the $700 sale ended up showing at $1043 but the $780 sales shows at $914. How does that work? Why is the lower sale showing so much higher than the higher sale? But then the $1120 shows at $1120. There's just no consistency or transparency so someone logging on will easily think the Maha sold for $1043 when it absolute didn't.

 

[dblplay1212]

If you sold an item at $700, at a 5% commission fee, for instance, that’s $35. But if they say it sold for $1000, that’s $50. Meaning they pocketed an extra $15 by lying about the actual amount. That’s crazy

Na they taxed me off the $700. I think the accounting is correct, just some sales are being inflated and therefore inflating the market bc the next guy thinks a Maha sold for $1000.

 

[dblplay1212]

Here's another that shows correctly. I sold it for $1800 and it shows as $1800. So it's just random and nobody knows what a pair really sold for. Sometimes it lists the actual sales price, sometimes it's 50% more than what it actually sold for.

 

[Fozz]

Hmm, this is odd.

 

[tr1ll]

How do you know that number comes from your sales, specifically? All they have to do is say it was the average sale price of that day or some nonsense like that.

 

[RyGuy45]

Where are you? I'm in the USA and it still shows $1043 for me. I sold this shoe for $700.

Nike Air Max 90 maharishi maha Olive

Buy and sell StockX Verified Nike shoes on StockX including the Nike Air Max 90 maharishi maha Olive Men's and thousands of other sneakers with price data and release dates.

stockx.com

West Coast. CA.

All of your (correct) sale numbers and dates show up exactly as they should for me on the app at least.

 

[dblplay1212]

How do you know that number comes from your sales, specifically? All they have to do is say it was the average sale price of that day or some nonsense like that.

The shoes I'm referencing are obscure shoes. The Maha has 2 sales in size 11 in the history of Stockx. I bought them. I sold them. That's the only 2 size 11 transactions. The Jeter Phat Low, there's 5 size 10.5 transactions ever. The last one was mine. You have to go back 2 more years to find another one. My sale is the only sale on those days and the timestamps match up from the email I got to the time they list as the sale occurring.

 

[dblplay1212]

West Coast. CA.

All of your (correct) sale numbers and dates show up exactly as they should for me on the app at least.

Can you screenshot it?

 

[dblplay1212]

I just logged out of my account to see if it's bc I'm logged in but nope, still shows $1043 for the Maha 90.

 

[ahat]

Shows 1406 CAD for me, which is 1043 USD.

 

[WASHED KING]

EYE SEE $1043

Stockx cooking the books.

 

[RyGuy45]

Can you screenshot it?

No problem

AM90

AM1

 

[dblplay1212]

No problem

AM90

AM1

What the hell? That's so random. People in different areas see different prices? That's wild.