For many people, sneakers are more than just casual shoes – they’re an obsession.
A recent slew of sneaker authentication and reselling websites makes it easier than ever to find the pairs you’re looking for.
Two of the sneaker sites that stand out from the pack are StockX and GOAT.
Both offer similar services, making it easy to find rare and limited-edition shoes, and providing authentication services as well.
You may be wondering which is the best option for buying and selling your sneakers. Here is a complete overview of StockX vs GOAT.
What is StockX?
StockX was one of the first companies to start offering sneaker resale services online. Although they started off with just sneaker resales, they have since expanded to resell handbags, watches, and other fashion items from sought-after brands.
StockX is a collaboration between Josh Luber, a former IBM consultant, and Dan Gilbert, the owner of the Cleveland Cavaliers and founder of Quicken Loans.
Luber is StockX’s CEO and developed much of the unique concepts and technology behind StockX, while Gilbert secured much of the funding for the project. StockX was created to be the
“stock market of things.”
When you browse products on the site, you can see accurate pricing and if their value is going up or down, in a way that mimics the stock market.
What is GOAT?
GOAT is an online shoe sale market that is very similar to StockX.
While they have been around since 2015, they have seen steady growth in their popularity recently. Unlike StockX, GOAT only sells sneakers.
However, GOAT allows you to resell used sneakers as long as they pass the authentication test, whereas StockX is only for resale of dead stock sneakers in new condition.
The site has a very sleek design that makes shopping for sneakers feel like a luxury experience.
The StockX Selling Process
Selling on StockX is very easy. Since StockX already has an extensive list of shoes they authenticate, you don’t even have to write your own listings. You’ll just select the item you want to sell and you can post it within minutes.
They even already have photos of the sneakers on the site.
When you buy and sell on StockX, you stay completely anonymous – something that’s important to many avid sneaker collectors and resellers.
Being anonymous means you don’t have to rely on reputation to make sales, and helps new resellers get in the game.
There are two ways to sell on StockX. The first is to post the item and sell it immediately to the highest bidder. Buyers on StockX are always posting their offers for the shoes they want, even if the shoe isn’t currently available.
When you post the shoe, you’ll see their bids and you can opt to accept the highest offer, selling it right away.
The other way you can sell is to place an ask. You can decide how much you want to ask for the shoe, and when a buyer posts an offer that matches your ask, StockX will automatically process the transaction.
Since StockX tracks the monetary value of the shoes listed on the site, both you and the buyers can use these pricing recommendations as a guideline.
Once your sale has been accepted, you will then need to send your shoes to StockX so they can authenticate them. You will get a confirmation email telling you exactly how long you have to ship your shoes.
The deadline is usually two business days, but may be longer in some cases. You’ll then need to wait for the item to be verified before you can receive your funds. StockX has a very strict verification process, and the sale will not go through if the shoes are determined to be fake.
Once your shoes pass the verification process, you will receive your funds within one to three business days. You can opt to receive payment via bank transfer or PayPal. StockX does charge a 9.5% seller’s fee, although this can go down as you sell more shoes on the site.
They also have a 3% payment processing fee. You’ll need to factor these fees in when you sell on the site.
The GOAT Selling Process
GOAT’s selling process is very similar to StockX’s in many ways. Currently, you need to apply and get approved to become a seller on GOAT. Seller reputation is very important to them, and they are currently only accepting small groups of sellers at a time.
This ensures that they can thoroughly process each seller and ensure the quality of the products sold on their site.
Once you have been approved, you can start posting your shoe listings on their site. To start the listing, you’ll need to find the SKU number for the shoe. Unlike StockX, you will need to upload your own photos for this process.
You will also need to fill out a detailed description about the condition of the shoe. You should be as honest as possible, because any descriptions that could be considered misleading could result in penalties from GOAT. You can then use GOAT’s handy pricing tool to find the best price for the item.
You can opt to send your listed shoes to GOAT before they sell for verification. This can help your shoes sell much faster. You can also wait until your shoes have been accepted for purchase to send them to GOAT. They will send you a prepaid shipping label to print out, which simplifies the shipping process.
Once GOAT receives your shoes, they will go through the authentication process. GOAT is very strict with the shoes they sell, and they take seller reputation very seriously. Therefore, the process can take longer than on other websites like StockX.
While this is an advantage for buyers who are concerned about the authenticity of their shoes, it can be a downside for sellers, as it takes longer to receive your funds.
GOAT charges seller fees and commission fees when you sell on their platform. Seller fees are based on where you live. They range from $5 for US sellers to $30 for international sellers.
You will also be charged commission, which ranges from 9.5% to 20%. Your commission fees are determined by your seller reputation rating. To keep your commission fees low, you’ll need to develop a good seller reputation rating by consistently selling authentic items and being honest with your descriptions.
You could also be penalized for any delays or failures to ship items on time. The reputation ratings hold sellers accountable to make the experience a better one for both parties.
The StockX Buying Process
When buying on StockX, you can browse from a huge number of sneakers (as well as watches, handbags, and other luxury items).
When shopping, you will see a few key numbers that indicate the pricing of a sneaker.
You can see how much the last sale of that particular sneaker went for, giving you a realistic idea of what sellers will agree to. You will then see the lowest ask currently available, which is the lowest price that a seller is willing to sell their shoes for.
You can click on the button and buy the shoes immediately if you would like.
You can also see the highest bid that other buyers have made on the shoes. If there’s high demand for a certain pair of shoes, bid pricing is going to go up. If you’re very interested in a shoe, placing a high bid on it increases your chances of getting it when a seller lists a pair.
StockX ships to over 200 countries around the world, and allows you to buy shoes in US, Australian, or Canadian dollars, as well as Euros and British Pounds.
They are planning on expanding their currency options in the future.
Once you’ve placed a bid on a pair of shoes, it is binding. You can pay using your credit card or PayPal. Shipping fees and sales tax will be charged as well. The money does not go directly to the seller – it goes to StockX, who then pays the seller once their shoes have been authenticated.
If your shoes do not pass the authentication process, you will receive a full refund.
The average delivery time of StockX sneakers is 6 to 10 business days, although this varies depending on the unique circumstances of each sale. All StockX purchases are final, so you cannot make returns or exchanges. However, you can opt to resell them yourself on the site. For US residents, StockX offers a payment option called Affirm. This is a payment plan that allows you to pay for your sneakers in installments over 3, 6, or 12 months. If you have your eye on a pricey pair of sneakers, this makes it much easier to complete the purchase.
The StockX site has features that are designed to mimic that of the stock market. It can be a bit overwhelming for first-time users, as there’s so much going on visually. However, there are plenty of fun features to explore that sneakerheads will love.
For example, you can browse portfolios of successful shoe collectors, which is a great way to learn more about the market. You can also follow sneaker news on the website. For frequent users, StockX has a buyer rewards program.
When you buy five items, you will receive free shipping on your sixth purchase.
The GOAT Buying Process
The process of buying on GOAT is very simple – you just browse the site until you find what you’re looking for, and then make a purchase the way you would on a normal online retailer. Resellers are the ones who set the prices on GOAT, with the help of their accurate pricing tool. While you don’t have as much of an influence on the pricing here as you do with StockX, you can feel confident knowing that you are getting fair and accurate pricing.
When making a purchase, you will need to pay for shipping fees, which range from $10 to $40 depending on where you are having your sneakers shipped to. GOAT only accepts purchases in US dollars at the moment.
You will typically receive your items 7 to 10 business days after you make the order, although you may receive them sooner if you opt for sneakers that are labeled as ‘Instant Ship’. If your shoes do not pass the authentication process, you will receive a full refund.
For US-based buyers, GOAT uses Affirm to offer payment plans. You can pay over 3, 6, or 12 months, so you can buy pricey shoes without having to pay the full price up front. GOAT also offers Afterpay, which is another financing service that allows you to buy your shoes and pay later. With Afterpay, you pay for the item in four installments every two weeks after the purchase. The difference is that Afterpay does not charge interest, but Affirm gives you much longer to pay off your items.
GOAT has a very sleek, appealing website that makes it stand out from its competitors. It’s very easy to browse and find the shoes you are looking for. They also have a popular app that is available for iOS and Android, so you can shop for shoes on your phone.
Comparing StockX to GOAT
StockX and GOAT are very similar in many ways, and we’ve put together a comparison to help you decide which service makes the most sense for you. Here’s how StockX and GOAT stack up on a variety of different dimensions.
Products available: Both reselling sites have an excellent selection of shoes. GOAT allows you to sell used sneakers while StockX does not. However, they both have great options available when it comes to rare shoes. StockX also offers other luxury and brand name fashion products for those who are interested.
Design/Ease of Use: This is where GOAT has a leg up – their website has a very sleek design that is easy to navigate. StockX’s website is busier and more complex, which can be overwhelming at first. However, they have plenty of helpful content to point you in the right direction if you get confused. Both services have mobile apps, so you can buy and sell shoes from anywhere.
Seller Experience: There are pros and cons to the selling experience on both platforms. GOAT requires its sellers to go through an application process, so it can be hard to get started with sales on the platform. They also have very intense authentication processes, which means it may take longer for you to receive the money from your sales. However, you can often make more money on GOAT as a seller than on StockX. On StockX, buyers can influence pricing, driving it down slightly, while on GOAT, sellers set pricing using existing data. However, it’s much easier to get started with StockX. Both buyers and sellers are entirely anonymous, making it more about the quality and price of the shoe than seller reviews.
Buyer Experience: Both services offer extensive authentication processes, so you can feel confident that when you buy your sneakers, you are getting a high-value product. Buying is slightly easier on GOAT – you just have to shop around and select the listed item that you want. However, on StockX, you can opt to either bid and wait for a seller to accept, or just go for the best asking price already listed. While this does require a little more thought and strategy, it means that you might get a better price.
Shipping, Currency, and Payment: Both services ship internationally, although fees vary depending on where you are located. GOAT only accepts USD at the moment, while StockX accepts several different currencies. On StockX, you can pay with a credit card or PayPal. GOAT also accepts credit cards and PayPal, and they also offer Apple Pay and Google Pay. Both services offer Affirm payment plans for US residents, where you can pay off your purchase with interest over 3, 6, or 12 months. GOAT also offers Afterpay, which is a quicker, interest-free payment plan for US residents. StockX does not accept returns, whereas GOAT does. If your products do not get approved as authentic, the transaction will be cancelled and you will receive a full refund on both sites.
StockX vs. GOAT: The Bottom Line
Overall, both StockX and GOAT are solid choices if you’re looking to resell your sneakers or buy a pair you’ve had your eye on.
Both have their pros and cons, but they come out about even when comparing their experiences for both buyers and sellers.
It just depends on what features are most important to you. Both services are making sneaker reselling much more legitimate and are a step up from general online marketplaces like eBay.
They connect true sneakerheads from all over the world and provide a way to verify authenticity and keep things fair. Whether you’re trying to make money with your sneaker collection or you just enjoy wearing them, StockX and GOAT are both worth checking out.