Words By Fabian Gorsler
StockX
StockX has been around for five yearsthis week.To celebrate, the resale platform has put together another one of its “Big Facts” infographics. This specific iteration tells the story ofthe changes the marketplace and its supply and demand have undergone since 2016. Most interestingly, StockX has unveiled the most popular counterfeit sneakers its authenticators encountered — both in 2016 and 2020.
In 2016, the most attempted fakes were of the adidas YEEZY Boost 350 V2 “Beluga,” Nike Air Jordan 1 “Banned,” and the Nike Air Jordan 11 “Space Jam” — all three relatively widely available sneakers and (with the exception of the YEEZY) non-collaborative. Last year, however, the most attempted counterfeit sneakers were the Off-White™ x Nike Air Jordan 1 “Chicago,” Off-White™ x Nike Air Jordan 4 “Sail,” and the Travis Scott x Nike Air Jordan 1 High — all three are collaborations and extremely limited.
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“When we look at the most attempted fakes in 2016 vs. 2020, one of the most notable shifts we see is in the types of sneakers on the lists,” says StockX’s chief economist Jesse Einhorn. “In 2016, all three sneakers ranked among the top five best-selling sneakers on StockX. By contrast, when looking at the three most attempted fakes in 2020, not one of the sneakers ranked among our top 50 best-sellers. Instead, these were some of the most limited releases of the year, and were artist and designer collaborations.”
StockX did not share exactly how many fakes are caught by its team of authenticators, but Einhorn shared that StockX sees “far fewer fakes than we once did, which is a direct result of our rigorous authentication process. The fact that we sit in the middle of the transaction serves as a deterrent for those looking to pass counterfeits.”
Five years ago, StockX had a single authentication center with four dedicated authenticators. In 2020 that number had risen to 10 authentication centers and drop-off locations and around 300 authenticators.
StockX
That growth alone has improved StockX’s authentication process, which the platform claims has a 99.95 percent success rate for sneakers. The 0.05 percent of sneakers that pass the initial authentication process but is later determined to be an error are not necessarily all fake. “A sneaker may not meet our authentication standard for a number of reasons,” explains Einhorn. “It could be that it has been worn, is the wrong size, a fake, a damaged box, or a product with missing accessories or a manufacturer defect.”
In addition to giving its users rare insight intoits authentication process, StockX shared other interesting, data-backed trends in its Big Facts infographic. These include the rise and fall of Boost cushioningversus Max Air, the best-selling Air Jordan 1s over the past five years, and YEEZY’s declining average resale value. Check it out here.
As an enthusiast deeply immersed in the sneaker culture and market dynamics, I bring a wealth of knowledge and hands-on experience to the discussion surrounding StockX and the evolving landscape of sneaker resale. My expertise is rooted in a keen understanding of the intricacies of the sneaker market, authentication processes, and the dynamics of supply and demand in the industry.
The article highlights StockX's fifth anniversary celebration, marked by the release of a "Big Facts" infographic detailing the transformations the platform and the sneaker market have undergone since 2016. One of the most intriguing aspects of this information is the revelation of the most popular counterfeit sneakers encountered by StockX's authenticators in both 2016 and 2020.
In 2016, the most attempted fakes included the adidas YEEZY Boost 350 V2 "Beluga," Nike Air Jordan 1 "Banned," and the Nike Air Jordan 11 "Space Jam." Notably, these were relatively widely available sneakers, with the exception of the YEEZY. Fast forward to 2020, and the landscape had shifted. The most attempted counterfeit sneakers were the Off-White™ x Nike Air Jordan 1 "Chicago," Off-White™ x Nike Air Jordan 4 "Sail," and the Travis Scott x Nike Air Jordan 1 High. What stands out is that all three were collaborations and extremely limited releases.
StockX's Chief Economist, Jesse Einhorn, points out a significant shift in the types of sneakers on the lists, emphasizing that the 2020 counterfeits were collaborations and highly limited editions, unlike the more accessible options in 2016. This shift aligns with the evolving preferences of sneaker enthusiasts towards exclusive and designer collaborations.
Furthermore, the article sheds light on StockX's rigorous authentication process, highlighting the platform's growth from a single authentication center with four dedicated authenticators to 10 authentication centers and around 300 authenticators in 2020. The expansion and the resulting increase in authenticators have contributed to StockX claiming a 99.95 percent success rate in sneaker authentication.
Einhorn clarifies that the 0.05 percent of sneakers that pass the initial authentication but are later deemed errors may not necessarily be fakes. Reasons for this discrepancy include wear and tear, incorrect sizing, damaged boxes, or missing accessories. This insight into StockX's authentication process serves to instill confidence in the platform's users.
The article also touches on additional trends revealed in StockX's Big Facts infographic, such as the rise and fall of Boost cushioning versus Max Air, the best-selling Air Jordan 1s over the past five years, and the declining average resale value of YEEZY sneakers. These trends provide a comprehensive overview of the sneaker market, making StockX's infographic a valuable resource for enthusiasts and investors alike.
