Looking for a new investment? Check your shoe closet
There isn’t anything new and exciting about financial markets, but how about trading in sneakers?
StockX debuted earlier this year as a stock market for commodities by getting its feet wet in the sneaker market. The site features a searchable database of about 5,000 kinds of sneakers, pricing graphics and data from the shoe’s release onward, including recent purchase prices on the site and elsewhere, 52-week highs and lows, and whether certain sizes cost more. Transactions are anonymous: When a sneakerhead clicks “buy,” the seller sends the shoes to StockX’s Detroit headquarters where they verify the shoes are genuine and unused, then StockX delivers them. CEO Josh Luber says that the stock market model is applicable to any item with a high resale value.
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