Digital Forum: StockX’s Josh Luber on Supply and Demand

When StockX closed its Series C funding round for $110 million in June, the Detroit-based company skyrocketed to the top of resale. Called “the stock market of things,” StockX competes in the realm of sneakers and streetwear with top sneaker resale companies Goat and Stadium Goods, and smaller companies Project Blitz and Urban Necessities. StockX cofounder Josh Luber helped break down the allure and opportunity of sneaker resale and how basic financial principles and trading laid the foundation for StockX’s valuation. “Who wouldn’t buy any asset that is worth five times as much money as it’s being sold for?” Luber asked. He used the Air Jordan IV sneaker as an example to break down the basic principles of supply and demand. On one side there’s a pair of black Air Jordan IV sneakers that were available on general release for $190 and sold for $230 on the secondary market, and on the other side, another pair of black Air Jordan IV sneakers that are reselling for $23,000. The second pair is a collaboration between Jordan and rapper Eminem and only 10 pairs are in existence. Luber explained, “$23,000 is the true market price. We know that because we have people that are on both sides

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