does this brand-new online marketplace truly use a stock trading design?
- Super user
- April 14, 2016
Described as the first online customer stock market of things, StockX is a new online marketplace that assures to bring the openness and performance of equity trading to the online sale of high-end, minimal edition items.
The Detroit start-up will at first focus on collectible tennis shoes in a collaboration with Campless.com, which since 2012 has developed a wealth of details on sneaker prices by tracking re-seller activity on eBay EBAY +2.70 % auctions.
EBay manages about a third of the secondary tennis shoe market. The rest of sales come mostly from specific niche websites and city stores, in addition to individual re-seller websites.
One significant benefit of StockX over an eBay-like auction is transparency. Participants in the StockX exchange can find historic price and volume metrics, real-time quotes and offers (asks), time-stamped trades and extra analytics on every tennis shoe design provided on the marketplace.
While costs can range commonly on an auction-type site, the openness assists set a reasonable rate for both sellers and purchasers. Like equity stocks, rates move higher or lower based upon quotes and asks.
We are going to bring the sort of trading platform and exposure to tangible products that monetary and commodities markets have actually utilized for decades, stated Dan Gilbert, the creator of Quicken Loans who is a major backer. Our company believes this is the right time to extend this basic concept to appropriate sectors of the online customer market.
In an online conversation recently, the market experts of the RetailWireBrainTrust pondered on the resemblances and differences between StockX and stock market.