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Glad? sheesh
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Good lord black prestos keep going up. Might have to just sell my pair
These are ok to me. Not feeling the purple laces though.Off-White x Nike Blazer Mid “All Hallows Eve”
Color: Canvas/Pale Vanilla/Black-Total Orange
Style Code: AA3832-700
Release Date: Fall 2018
Price: $130
Bloody O
Glad? sheesh
I rarely post here but think this is worth talking about. I will be brief- I think it’s highly likely that StockX manipulates prices. Someone this week here mentioned it is a “transparent marketplace”. That made me laugh. It’s anything but. You don’t know who your buyer or seller is, unlike eBay, where you ship to a real, live human being.
What I think is happening is StockX has ultimate knowledge of where supply and demand is (they see the bids and asks) and can play around with transactions to suit their needs. How? Well let’s take the bizarre price action of the OW AJ1 university blue as an example. They see how much “demand” there is. They can, themselves, hit the ask on the shoes when they believe the price on their market doesn’t reflect true demand. Heck, they can make the bids low, not show all bids, do whatever. They can then buy the AJ1, hold a bunch in inventory, then manipulate prices to have bids and asks creep higher, then sell this inventory at higher prices. I know this is happening, they are not being transparent with whether the buyer or seller is an actual person and not them. They have NEVER answered the question of “do they go into their own market and buy and sell inventory”.
This happens in the stock market- a “market maker” which sits between the bids and the asks often holds inventory of stock to be able to make a market. Ultimately StockX, as market maker, is in the business to just get volume, and take their 10% cut. But along the way they have more info than we do as towhere true bids and asks are, and they can act accordingly by buying on their own account. This is a huge advantage that we do not have and they can profit greatly from it.
There is absolutely no reason why the AJ1 or black prestos OW should jump 200 bucks (30%+) in a matter of days. The sneaker market is not that liquid, it does not move on “news”, it’s not like we learned that supply is dead or there is a glut in the market.
Yes, overall, the way the deadstock shoe market should work is that OVER TIME, shoes should always rise in value if no restocks occur, as more shoes are un-DS and supply naturally shrinks. And yes, shoes should move on “news” of a restock, like the yeezy wave runner restocking (the damn thing should actually dip to retail right now, Adidas is all about moving units at this stage in the Yeezy life cycle unlike 2 yrs ago, so I’m sure the 700 will be plentiful next month).
I’m sorry to sound like a conspiracy theorist, but StockX is totally not transparent in how it operates, if they were, they’d at least put a seller initials and timestamp near their bids asks and past trades. And we all know the past trades are bs data that comes from who knows where. I’ve personally sold multiples of a certain shoe and size and their data never reflects it properly.
So let’s not pretend the sudden jump in some OW pricing is “magic”. StockX has the power, ability and shadiness to manipulate its marketplace. They are incentivized- 1) long term getting prices higher means more commissions and 2) actually making money on holding and releasing shoes on their own account lets them benefit both from that upside and the round trip fees.
More questions need to be asked of StockX and I truly believe an FTC investigation on being a fake “marketplace”. The josh luber Q&A on reddit was a complete joke, dumb questions and even dumber answers.
Thoughts?
This is not really an answer. “They don’t care about having inventory”? They care about shoes moving and shoes going up in value. That’s how they maximize fees. of course they do care. I’m not saying they are collecting OW for fun, I’m saying they see which shoes are hot, see directionally where they are going from a supply demand perspective, and can pounce.The owners of stock x are not manipulating the market lol they don’t care about having inventory of all these sneakers. There are so many shoes bought and sold every day on those apps so the money stock x makes is ridiculous compared to them holding and investing in hype/limited shoes.
My evidence is the following:I skimmed that wall of text and didn’t see a hint of evidence, so it’s just the same baseless conspiracy theories. It wouldn’t make business sense for them to ruin their current amazing business model, so until I see evidence I’m not wasting my time entertaining it.
They are not public so don’t know which is bigger, but Goat has raised more money and be merger w flight club makes them more sizeable. There is rarely a way to arb StockX and goat, there shouldn’t be, if buyers and sellers are acting rationally. Often I see minute differences in pricing that reflect 1) goat has higher fees 2) goat buyers seem less price sensitive, more unsophisticated and more “trusting” of the “authentication “ and willing to pay slight premium to “not have to worry”. Goat has celebrity publicists and managers buying on the app, I know this as fact. They’re willing to pay more to worry less.Although, I agree with what you're saying as I thought this in the past.
I have a couple questions. Is StockX bigger than GOAT? I know goat doesn't show bids/asks but I am pretty sure on hype releases there are multiple asks being placed above the low price.
If stockx is manipulating prices would that change prices on GOAT? I do have questions on the liquidity of the market. If buyer's will move over to goat and try and arb... who knows. I thought it wouldn't be worth the time to arb for pennies but I don't know anything about the shoe resale market.
Prices were increasing on both stockx and goat for the Prestos. I was trying to cop a pair and they both were increasing around the same time.
I do agree with Lucky13s - that it's not worth it.
My evidence is the following:
- Bizarre increases in prices of certain shoes that can only happen w coordination
-StockX is not transparent with respect to buyer and seller
- StockX reported prices don’t reflect reality
- StockX often cancels sales for bizarre “there was fraud” reasons
- StockX has rare shoes on display at HQ, runs contests on shoes, etc, anectdotal evidence that they have to go in their own market to have shoes
Stop being naive. They can do things to influence volatility, which spurs more buys and sells, can make sales happen where bids and ask spreads wouldn’t get there and can manipulate this market in a multitude of ways.
Explain to me why OW shoes suddenly rise by 50%?None of that is evidence. Your last point is the closest thing to evidence, and it's flimsy at best.
Explain to me why OW shoes suddenly rise by 50%?
Explain to me why OW shoes suddenly rise by 50%?