StockX announced today a series of policy changes for sellers, including a 1 percent reduction in the base fee for sellers of any level. First-time sellers will now be charged a base fee of 9 percent, with the base fee going down an additional 0.5 percent for each seller level from 2 through 5. Each of the changes will go into effect July 1.
Although base fees have been lowered across the board, the number of sales required to reach a new seller level and thus achieve a lower seller fee have been increased by an average of ~3X in the $ amount sold and ~5X in total units sold quarterly. Reaching level 2 used to require just three sales or a total value of $500 in sales per quarter, but those marks have now changed to 12 and $1,500, respectively. Level 3 will now require 40 sales or $5,000, up from 6 sales or $1,500. Level 4 requires 200 sales or $25,000, up from 25 or $5,000. Finally, level 5 requires 800 sales or $100,000, up from 250 or $300,000.
The opportunity to qualify for performance-based bonuses has now been extended to levels 3 through 5, whereas it previously required level 4 or above. A consistent history of quick and successful shipping each brings the opportunity for 1 percent reductions in the base fee. Qualifying for the quick shipping bonus, however, will take more work. Sellers must ship 80 percent of a month’s sales within 36 hours to qualify, up from 60 percent.
“This new program is a result of our team listening to sellers at every level,” Russ Amidon, senior director of Account Management at StockX, said in a release. “Whether you’re a casual seller or a level 5 who’s been with us for years, we’re making it better for you — improving the experience across the board was really important for us.”
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Ian Servantes is a writer and editor based out of Brooklyn. He's previously covered fashion, sneakers, and pop culture for outlets including Input, Highsnobiety, and Complex.
