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ADIDAS X YEEZY COLLAB OFFICIAL 2016 THREAD - (NO LC PICS PLEASE!)
- Thread in 'Other Brands' Thread starter Started by xcautionx,
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Potential Huge Flaw in Stock X : Sneaker Market
So my birthday pasted recently and I got a little extra spending money. So I decided to sell some of my shoes for cheaper to get something that I really want. I currently have about 5 shoes listed on Stock X. But for particular shoe (GUM 750) I notice that every time I try to put up the lowest ask price. Someone quickly swoops in and undercut my sale by a dollar. So I respond by undercutting him by a dollar and so forth. Then it dawned on me that a potential buyer can easily list a pair of sneaker that is not in their possession. And undercut actual sellers that have shoe in a effort to get a lower price. So that every time the price drops whether it be a dollar or 5 dollars. The buyer is closer to the price he actually wants to pay. As long as the seller is willing to go back and fourth / or is desperate for a sale.
On eBay this is called shell bidding but because Stock X has a different system this is reverse shell bidding.
(Shill bidding happens when anyone—including family, friends, roommates, employees, or online connections—bids on an item with the intent to artificially increase its price or desirability.Sellers can also do this by bidding on their own items.)
Ebay has a policy against this but to my knowledge Stock X does not. This flaw puts huge favor for the buyer and undercuts genuine sellers. Since when you list you're obligated to sell for the price if your ask is accepted. Or suffer a cancellation fee. Sadly their is no way to confirm my theory since stock x does not reveal who made the bid or listed the shoes. But in my case the minute I lowered my price I was almost instantly undercutted, and as of recently the buyer or fake seller would then increase the highest bid. This happened simultaneously. (I lower my price to get the lowest ask, then he lower his imaginary shoe price , then he increase his highest bid , and the cycle continues. )
This give the buyer a huge advantage if it is in fact true. Stock X has no system in place to regulate this either. I tested it earlier a buyer can easily bid and list a shoe that is in the same model and size. How is the loophole or flaw in existence I have no idea. They need to make sellers verify that they actually have the shoe in possession with tag pics or something. This is happening a little too simultaneously not to be a coincidence. I know they notify sellers and buyers of a new highest bid or lower ask but this is crazy. And it been happening for the past 4 days. The lowest ask has went from $1,150 to $1,134 little by little because me and this guy keep going back and forth. Something is definitely up no one who actually possess the shoe would be that desperate to have the lowest ask. It's just crazy.
So my birthday pasted recently and I got a little extra spending money. So I decided to sell some of my shoes for cheaper to get something that I really want. I currently have about 5 shoes listed on Stock X. But for particular shoe (GUM 750) I notice that every time I try to put up the lowest ask price. Someone quickly swoops in and undercut my sale by a dollar. So I respond by undercutting him by a dollar and so forth. Then it dawned on me that a potential buyer can easily list a pair of sneaker that is not in their possession. And undercut actual sellers that have shoe in a effort to get a lower price. So that every time the price drops whether it be a dollar or 5 dollars. The buyer is closer to the price he actually wants to pay. As long as the seller is willing to go back and fourth / or is desperate for a sale.
On eBay this is called shell bidding but because Stock X has a different system this is reverse shell bidding.
(Shill bidding happens when anyone—including family, friends, roommates, employees, or online connections—bids on an item with the intent to artificially increase its price or desirability.Sellers can also do this by bidding on their own items.)
Ebay has a policy against this but to my knowledge Stock X does not. This flaw puts huge favor for the buyer and undercuts genuine sellers. Since when you list you're obligated to sell for the price if your ask is accepted. Or suffer a cancellation fee. Sadly their is no way to confirm my theory since stock x does not reveal who made the bid or listed the shoes. But in my case the minute I lowered my price I was almost instantly undercutted, and as of recently the buyer or fake seller would then increase the highest bid. This happened simultaneously. (I lower my price to get the lowest ask, then he lower his imaginary shoe price , then he increase his highest bid , and the cycle continues. )
This give the buyer a huge advantage if it is in fact true. Stock X has no system in place to regulate this either. I tested it earlier a buyer can easily bid and list a shoe that is in the same model and size. How is the loophole or flaw in existence I have no idea. They need to make sellers verify that they actually have the shoe in possession with tag pics or something. This is happening a little too simultaneously not to be a coincidence. I know they notify sellers and buyers of a new highest bid or lower ask but this is crazy. And it been happening for the past 4 days. The lowest ask has went from $1,150 to $1,134 little by little because me and this guy keep going back and forth. Something is definitely up no one who actually possess the shoe would be that desperate to have the lowest ask. It's just crazy.
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oh man
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Maybe they should implement a similar system for listings like on GOAT, they have to take pictures of the shoes to post them for sale.
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I rather pay the resale on the breds than yeeys thats for sure
well you can wait it out it if you had a little common sense and be firm with your selling price. A fake seller is not going to want to have the lowest price because what happens when someone buys they get penalized $25 if they dont have the shoe. This strategy will only work on desperate resellers.
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its not going to kill you to have the second lowest listing especially yeezys, and if you are that desperate to sell quick , just realize you are causing yourself to lose money and charge it to the game. kicks already selling for 5x retail and you want to complain about being undercuted like $50 come on son !!!
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whoa mikey 
lolla right?
omg at them tight *** pants
lolla right?omg at them tight *** pants
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I See salt . Think I found my guy who has been undercutting
. Everyone else price is way high up. And I get internet shot for trying to have the lowest price. Can't win. Stop worrying about my price and worry about the problem with Stock X. When you get a pair and need to sell it on Stock X ill be here for you. @consios
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yeah ok buddy lets all complain about how stockx wont protect you from making bad decisions
I See salt . Think I found my guy who has been undercutting. Everyone else price is way high up. And I get internet shot for trying to have the lowest price. Can't win. Stop worrying about my price and worry about the problem with Stock X. When you get a pair and need to sell it on Stock X ill be here for you. @consios
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0-7 probably dawg lets not even count the 1 in the September. Chill out. Salt level beyond normal capacity.
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Pretty much. It's not like stockx forces you to list your pair for the lowest price. Find your price and sit on it, or play the back and forth of lowering your bid.
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I wonder if StockX could fix that by implementing a limit to how many times you can alter a price? Changing a price 10x a day should be a red flag.
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Smithbeentrill
formerly domosavage
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Something shady going on on twitter...Seen some talk about a TD and OT restock that happened over an hour go. Will post pics of the tweets in a sec.
Smithbeentrill
formerly domosavage
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I thought they referred to Barney's in some of the comments?
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damn....i really want TD's
Smithbeentrill
formerly domosavage
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I believe they did not sure though. I'm salty I missed.
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Damn! Wtf!
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You wouldn't have carted if you were on the page when it went live... these guys Bots are on 25/8
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25/8 lmao
25/8 lmao
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