Money Facts Archives | Page 2 of 4

StockX is a website for fashion lovers and collectors to buy and sell popular and often rare products. For sellers, it can be a lucrative way to make a profit on items you no longer want, or if you are able to get your hands on some rare collectibles. But how much does StockX take when it comes to seller’s fees? When it comes to seller’s fees on StockX, the answer is a little more complicated than you might think. For new sellers, StockX will take a higher percentage of each transaction. As you earn more sales and become a higher-level StockX seller, the fees will decrease. So while at first the fees from StockX might be painful, if you are able to continue to make more sales, the fees will become less and less. This makes sense as StockX rewards the sellers that are bringing in more business to the platform. If you want to get to the lowest level of StockX seller fees, you will need to make at least 250 sales or sales valued at more than $30,000 USD. How Much Does Stockx Take? If you are just starting out on the platform, you will be designated as a Level 1 Seller. This means that StockX will take a basic transaction fee of 10% from each sale. There are also minimum transaction fees per item which vary depending on what you are selling. For example, most shoes and bags will have a minimum charge of $9.00 USD, while smaller items like trading cards are $7.00 USD. Remember that is the minimum. If the product price is higher then StockX will take the higher of the two fees. These fees also vary by which country you are in. If you are wondering about the fees for your country, check out the table on the StockX Help page here. When calculating your profit margins as a seller on StockX, always keep your seller level and transaction rate in mind. There is a fine balance to setting a competitive price for your product while also ensuring there is enough profit for this to be a worthwhile endeavor for you. How To Lower Seller Fees on StockX? But can you lower the seller fees on StockX? Absolutely! The easiest way to do so is to sell sell sell! The more you sell, the lower your transaction fees will be. I talked about seller levels already, so here is a little table that shows exactly how many sales you need to make to move up to the next level: Seller LevelSales RequiredSales Required ($)Base Transaction Fee1N/AN/A10.0%23$500 USD9.5%36$1,500 USD9.0%425$5,000 USD8.5%5250$30,000 USD8.0% Source: StockX Help So as you can see, it only takes three sales to move up to Level 2, but to reach the highest level, you’ll need to make at least 250 sales. Even at Level 5, StockX will still take a base transaction fee of 8.0%. So again, you will need to make sure that this level of profit is worth all of the time and effort invested into selling on StockX. There is another way to lower your seller fees on StockX: fast shipping! If you can ship 60% of your sales within 36 hours of the sale, StockX will give you an additional 1.0% off your transaction fees for the next month. In addition to this, if you ship 95% of your sales on time within the given month, you will receive an additional decrease of 1.0% on your fees for the next month. Shipping is key to customer satisfaction and helps boost your own budding StockX business. If you can satisfy your customers, StockX will receive fewer complaints as well. The platform will always try to reward its good sellers so make sure you are keeping up with your shipping times! Why are StockX Processing Fees so Expensive? It’s a great question and StockX did receive social media backlash when they raised their fees. The thing with these online-based platforms is that fees are the primary source of revenue. StockX needs to continue to grow and enhance its product, and that comes at the expense of user fees. If you want to keep using StockX to buy or sell items, you’ll have to live with the processing fees. Unfortunately, there is just no way around this right now. StockX also needs to pay its employees and as a business, find a way to make a profit. As with most emerging companies, when it finds a way to reach profitability in the future, there is always a chance it will be able to lower its fees. StockX provides a service that isn’t easily replicated on other sites. There are other re-sale sites like GOAT or eBay, but neither really has the same popularity as StockX on a global basis. For now, the high processing fees on StockX are unavoidable so whether you are buying or selling, you have to factor it into the price of the item. The Bottom Line StockX is known for taking a seller fee and a processing fee from the buyer on each transaction. Are these fees considered high? Most people do. But most users also realize it is one of the best places to find rare collectibles and sneakers that they simply cannot find in retail stores. These fees help keep StockX operational and allow them to improve the user experience. Hope this helped! Geek, out.