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Why sneakerheads are leaving eBay for Detroit startup StockX
Buying a pair of new rare sneakers is harder than reselling them on StockX. To buy new, the Yeezy or Jordan gods have to smile upon you, giving you that winning raffle ticket at a local store or letting you beat the bots online. To resell, all you have to do is go to the StockX website and set a price. You don't take photos or haggle with potential buyers. Instead, you look at what price the shoes are selling for and list your pair at whatever amount you think someone will pay for them. Like a stock exchange, buyer and seller identities are kept from one another. StockX acts as a middleman, only releasing payment once it verifies that goods are authentic. It's this simplicity that has helped the company earn so many loyal users. StockX was founded in 2015 after Quicken Loans founder and CEO Dan Gilbert bought Campless -- an online repository for sneaker sales data -- from Josh Luber. As part of the purchase, Luber moved from his native Philadelphia to the Detroit metro area, taking up the mantle of StockX CEO and working from Gilbert's One Campus Martius building downtown. In a little under three years, the company has become the go-to source for buying rare high-end shoes and streetwear.
