StockX launches auction feature for collectibles

Resale marketplace StockX has introduced a new bidding feature for sought-after collectibles underlining its commitment to offering rare, hard-to-find items.

Dubbed ‘StockX Auctions’, the new function enables exclusive premium bidding on a curated selection of products, from game-worn sneakers to pop-culture memorabilia.

The inaugural action, due to start November 13 and running for seven days, will feature a selection of 28 pairs of sneakers, such as the ultra-rare Nike Dunk Low Off-White Future Syracuse and the Nike Mag, a pair of Back to the Future sneakers sold in a limited release during the 2010s.

Bidding will start at one dollar on every item with no reserve, creating what StockX said was a “transparent, demand-driven marketplace”. Each piece sold will also be backed by the platform’s proprietary multi-step verification process.

The auction feature is initially available to US customers, however StockX said it was planning to open participation up for its global network of sellers in order to expand its catalogue.

In a statement, Greg Schwartz, the company’s CEO, said the launch of auctions responds to a consistent demand from StockX’s community.

"This new experience creates a trusted, transparent, and genuinely exciting space where collectors can access items they've only dreamed of. By combining our verification expertise with real-time bidding, we're expanding what it means to invest in culture,” he added.