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.