A Ma Maniere AJ4

[perfectchaosrei]

and if the seller failes to ship, they also have to pay stockx a percentage of whatever the sale was. the whole point of these platforms is to make people feel safer paying resell with the understanding that they won't get burned by fakes (and to make money, obviously...).

 

[jshortt]

Just the buyer if they get a fake pair that passed authentication.

...but I'm sure that never happens.

Ebay bounced a pair of 4's I tried to buy like 2 days ago. At least we know their process is working and not just letting any old thing through.

 

[TooOlfForThisIsh]

Seller doesn't get paid until they're authenticated. Buyer gets a refund if they fail authentication and a replacement isn't found. Not sure there's a risk to any party here.

There’s definitely risk to the buyer if the price moves against them.

In the US equities markets, all trades are ultimately settled by the DTCC. In turn, they only allow members to settle trades. Every stock trade on an exchange (as opposed to a purchase from a dealer) will be settled between two clearing broker members of the DTCC on behalf of their clients. In the event of a settlement failure, the clearing broker assumes the risk,

On Settlement day, if a counterparty doesn’t deliver their side, the broker must make up the economic difference. The DTCC in turn requires brokers to post collateral to make sure they can cover their clients.

So if a trade happens at $100 and on settlement day the seller doesn’t deliver the stock and the price has gone up to $120, the seller’s clearing broker must step in and pay the $20.

On the sneaker exchanges, buyers and sellers serve as their own brokers and so any collateral should be paid by them. Since a buyer must deliver payment on trade date (your card, PayPal, etc.) there is asymmetric settlement risk. The buyer essentially can not default, but as we’ve seen the seller can and frequently does.

I get that this is super arcane, but the guys who set up the sneaker exchanges (especially Stock-X) definitely understand all this. They have tried their best to emulate equities markets in all other respects. They just refuse to implement this because they know it’s not commercial.

 

[TooOlfForThisIsh]

I talked about US equities, but almost all modern exchanges follow a similar mechanism with a clearing house, clearing brokers, and collateral.

 

[Davey Magoo]

Ebay bounced a pair of 4's I tried to buy like 2 days ago. At least we know their process is working and not just letting any old thing through.

That's both reassuring and upsetting at the same time.

...which 4s?

 

[pwguy]

There’s definitely risk to the buyer if the price moves against them.

In the US equities markets, all trades are ultimately settled by the DTCC. In turn, they only allow members to settle trades. Every stock trade on an exchange (as opposed to a purchase from a dealer) will be settled between two clearing broker members of the DTCC on behalf of their clients. In the event of a settlement failure, the clearing broker assumes the risk,

On Settlement day, if a counterparty doesn’t deliver their side, the broker must make up the economic difference. The DTCC in turn requires brokers to post collateral to make sure they can cover their clients.

So if a trade happens at $100 and on settlement day the seller doesn’t deliver the stock and the price has gone up to $120, the seller’s clearing broker must step in and pay the $20.

On the sneaker exchanges, buyers and sellers serve as their own brokers and so any collateral should be paid by them. Since a buyer must deliver payment on trade date (your card, PayPal, etc.) there is asymmetric settlement risk. The buyer essentially can not default, but as we’ve seen the seller can and frequently does.

I get that this is super arcane, but the guys who set up the sneaker exchanges (especially Stock-X) definitely understand all this. They have tried their best to emulate equities markets in all other respects. They just refuse to implement this because they know it’s not commercial.

Yeah, makes sense. Just too complicated for the sneaker market. They'd have to hold some kind of deposit b/c charging them upon a failure could result in a payment failure at that time, and the market price varies so much neither party could know what that delta could be. Also, they'd have to hold that collateral in escrow, and potentially pay interest if they hold for a certain period of time. Or collect it then refund it for each order, which will drive up transaction fees. I think penalizing them (if they can collect the fee) and banning them from the platform is not unreasonable here.

 

[TooOlfForThisIsh]

I think penalizing them (if they can collect the fee) and banning them from the platform is not unreasonable here.

I’d agree if the penalty were turned over to the buyer.

But I think we all know that buyers are the lowest part of the sneaker exchange totem pole.

 

[pwguy]

I’d agree if the penalty were turned over to the buyer.

But I think we all know that buyers are the lowest part of the sneaker exchange totem pole.

Agreed; that would make the most sense and be completely logical...i.e. Not happening...SMH.

 

[jshortt]

That's both reassuring and upsetting at the same time.

...which 4s?

Midnight Navys. Can't get a pair to save my life.

 

[OG_Snkr_Fan]

Midnight Navys. Can't get a pair to save my life.

What size you need my bro and whats the price range? If you want to have a discussion via DM I can help out.

 

[Deleted member 236478]

Newest TradeBlock "offer".

I asked him to add $100 to make it fair and he tells me the prices in Tradeblock are wrong and says in StockX it's a fair trade.
Then he proceeds to show and circle the offer prices on StockX which STILL have a $60 difference. BIN is over $100.
Bunch of kidiots on that app.

 

[JPS]

id take that trade straight up. your lucky he wants them trash 1s. if anything ask him to add for the fees

 

[headdetective]

Man is robbin ole boy and still wants more

 

[Deleted member 236478]

id take that trade straight up. your lucky he wants them trash 1s. if anything ask him to add for the fees

Trash to one is gold to another. A lot of people out there wouldnt wear a Jordan no matter how great we think it is.
Value is value.

 

[JPS]

Trash to one is gold to another. A lot of people out there wouldnt wear a Jordan no matter how great we think it is.
Value is value.

that's great and all but you're wylin asking for $100 on top

 

[witnesskb24]

Man’s offered him some dookie discount 1s but still wants more cash?

This is what they’re talking about in the 1s thread of people offering garbage to add up to a dollar amount and call it fair

 

[frenchbreadbuilds]

Newest TradeBlock "offer".

I asked him to add $100 to make it fair and he tells me the prices in Tradeblock are wrong and says in StockX it's a fair trade.
Then he proceeds to show and circle the offer prices on StockX which STILL have a $60 difference. BIN is over $100.
Bunch of kidiots on that app.

Lol anyone using bids as the value isn’t a serious trade partner. Don’t wasted your time.

The 1’s aren’t super desirable but StockX is still selling them for $170-$180 consistently. If he wants em he should pay market for them

 

[Deleted member 236478]

Man’s offered him some dookie discount 1s but still wants more cash?

This is what they’re talking about in the 1s thread of people offering garbage to add up to a dollar amount and call it fair

He actually sent me this offer. His AMM for the two he picked from my closet.

 

[skaterplayer808]

That’s like the guys who wanna offer a **** ton of bricks for a lost and found. Nah fam, I’m good on those mids and pollens, thanks for the offer

 

[lovehateself]

not gon lie, i be doing that
did it when i was moving to get rid of pairs




anyone who wants a bunch of 1s and dunks in exchange for unions, holla at ya boy

 

[frenchbreadbuilds]

not gon lie, i be doing that
did it when i was moving to get rid of pairs




anyone who wants a bunch of 1s and dunks in exchange for unions, holla at ya boy

i take these types of trades to IG. i got a two a couple resellers that will literally take a box full of GRs for heat as long as the agreed upon value matches. its how i got my travis x frag lows among other things

 

[biafra809]

Lol anyone using bids as the value isn’t a serious trade partner. Don’t wasted your time.

The 1’s aren’t super desirable but StockX is still selling them for $170-$180 consistently. If he wants em he should pay market for them

Especially since he is coming to you for the trade, which by definition he should be paying the ask (not the bid). That said, I would take the trade straight up.

 

[JPS]

That’s like the guys who wanna offer a **** ton of bricks for a lost and found. Nah fam, I’m good on those mids and pollens, thanks for the offer

except in this case someone is asking for you bricks and offering u something dope

 

[headdetective]

Is that slaughterx requesting that trade?

 

[frenchbreadbuilds]

Especially since he is coming to you for the trade, which by definition he should be paying the ask (not the bid). That said, I would take the trade straight up.

same! or id include something of lower value along with the cool greys