StockX is now listing records... will the secondary market get worse?

[SNEAKORDS]

If you don't know StockX, it's a plague on the sneaker industry that has expanded to clothes, then toys like Lego and Funko, then graphics cards & PS5s, and now they're adding records. Basically anything someone can use a bot to buy up and then sell for 2-5x the original value while screwing over people trying to buy at retail is going to be resold on StockX by people that flip things for a living.

 

Will it really make a difference when we have Discogs and the like? Who knows. At the moment it seems to be 90% Travis Scott listings with a 20% markup in comparison to discogs, so the target market are resellers who don't give a shit about what they sell as long as they make a few bucks and Travis Scott fans\hypebeasts that buy a record to hand on their wall next to their Travis Scott Reese Puffs and McNugget pillow. I'm sure that even though they have their "authenticators", StockX doesn't know a damn thing about records. You can only list your ask, there's nothing about record condition to go through or anything, so if it's like sneakers and accessories, everything has to be 100% mint condition no exceptions, which is funny considering how many records come from labels with corner dings, sleeve tears and the occasional warp. Not to mention people are not going to know how to properly ship records.

 

So if you have a stash of mint sealed records from Travis Scott, Kanye or The Weeknd that you want to get rid of, you might be able to make a little more than you would off of Discogs. I hope it stays to just a selection of overhyped gimmick rap releases.

[drewberinger]

It’s gonna be all gimmick records RSD release and UO exclusives  so I’m not worried as those releases aren’t usually in my lane

[SNEAKORDS]

That's pretty much my take at the moment, but their endgame is to be a resale market for "everything" so I'll be checking in here and there to see how much it expands

 

[firehazardrecords]

ugh, this is a bummer to hear... hopefully it'll only be the newer, gimmicky major label released junk that winds up there though. UO exclusives and the like... I'd like to think stockx will become the secondhand market for causal, surface level vinyl consumers and the real heads will stay on discogs but who knows

[museummouth]

The secondary market is getting bad again. Since vinyl kinda died down a little pressing numbers have decreased and it’ll reach a mid point again where supply can’t meet demand. 

[Oblivions]

My theory is that the pandemic has saved wealthy people a ton of money they’d have spent on dining out and in-person entertainment. If you were doing great pre-pandemic, it seems like for some of those people things got even better. And those entertainment dollars are going into indoor hobbies that you can engage with via mail order. I’ve seen a ton of records that used to go for $35 on the secondary market jump to $100. And I’ve listed some of my own that have skyrocketed and made quick sales. Add in Vinyl Me Please setting expectations at $45 per new record for new/returning collectors and I think you’ve got a certain segment of the population splurging happily on vinyl. But I’m making all this up based on anecdotal experience so who knows.

[Boaty McBoatface]

2 hours ago, Oblivions said:

My theory is that the pandemic has saved wealthy people a ton of money they’d have spent on dining out and in-person entertainment. If you were doing great pre-pandemic, it seems like for some of those people things got even better. And those entertainment dollars are going into indoor hobbies that you can engage with via mail order. I’ve seen a ton of records that used to go for $35 on the secondary market jump to $100. And I’ve listed some of my own that have skyrocketed and made quick sales. Add in Vinyl Me Please setting expectations at $45 per new record for new/returning collectors and I think you’ve got a certain segment of the population splurging happily on vinyl. But I’m making all this up based on anecdotal experience so who knows.

I agree with this theory. Many people are spending more of their disposable/entertainment income on vinyl, myself included. I’ve spent over twice as much on records in the past 12 months than I did during the previous 12. That’s bound to drive up secondhand market prices. I’m sorry, everyone. 

[Oblivions]

15 minutes ago, Boaty McBoatface said:

I agree with this theory. Many people are spending more of their disposable/entertainment income on vinyl, myself included. I’ve spent over twice as much on records in the past 12 months than I did during the previous 12. That’s bound to drive up secondhand market prices. I’m sorry, everyone. 

If you are one of the handful of people who happily bought a VG record off me with pre-disclosed large warps for $80 and didn’t grumble at all about the condition or try to offer me half the asking price over the last month, I forgive you, my friend.

[Skacel]

2 minutes ago, Oblivions said:

If you are one of the handful of people who happily bought a VG record off me with pre-disclosed large warps for $80 and didn’t grumble at all about the condition or try to offer me half the asking price over the last month, I forgive you, my friend.

You can’t see the warps when it’s hanging on the wall.

[unknown pleasures]

You guys should see what’s been happening with sports cards. I don’t collect them myself but keep reading about crazy gains that hobby has made since the pandemic.

 

Cards that were $500-1,000 a couple of years ago are going for $50k plus and there’s 12 month backlogs at the grading companies that certify condition.

 

Makes you count your blessings as a vinyl collector.

[Boaty McBoatface]

22 minutes ago, Skacel said:

You can’t see the warps when it’s hanging on the wall.

I’ll have you know, my wife won’t let me hang any of my vinyIs on the wall, so I’m forced to actually listen to them. Ugh. 
/s

[marc32137]

21 minutes ago, unknown pleasures said:

You guys should see what’s been happening with sports cards. I don’t collect them myself but keep reading about crazy gains that hobby has made since the pandemic.

 

Cards that were $500-1,000 a couple of years ago are going for $50k plus and there’s 12 month backlogs at the grading companies that certify condition.

 

Makes you count your blessings as a vinyl collector.

Yep and what’s worse is retail prices are skyrocketing too. Hobby boxes that cost $60-90 a year or so ago are now like $140-170. 

[Oblivions]

1 hour ago, unknown pleasures said:

You guys should see what’s been happening with sports cards. I don’t collect them myself but keep reading about crazy gains that hobby has made since the pandemic.

 

Cards that were $500-1,000 a couple of years ago are going for $50k plus and there’s 12 month backlogs at the grading companies that certify condition.

 

Makes you count your blessings as a vinyl collector.

Should I try to reconnect with my ostracized father in hopes of reclaiming my 1997 Barry Bonds Bowman’s Chrome USA Flag Refractor card from his garage?

[SNEAKORDS]

1 hour ago, unknown pleasures said:

You guys should see what’s been happening with sports cards. I don’t collect them myself but keep reading about crazy gains that hobby has made since the pandemic.

 

Cards that were $500-1,000 a couple of years ago are going for $50k plus and there’s 12 month backlogs at the grading companies that certify condition.

 

Makes you count your blessings as a vinyl collector.

Oh yeah, StockX does trading cards too, forgot about that. I'm into sneakers but the group I'm in had sub-sections for cards, toys, gaming etc and literally everything is being bought up to be resold, driving up the prices. some of it has to do with false scarcity with companies knowing that they can make less but earn back more in hype for the next drop. It's something we're used to with records when there are presses of 50-200 sometimes, and I really do appreciate how much "easier" it can be to obtain records in comparison to other things, but over the last year or so it's all just gotten so bad with people taking reselling as a full time "job", worse than I remember ever seeing it. It's kinda depressing.

[shamrocks]

3 hours ago, unknown pleasures said:

You guys should see what’s been happening with sports cards. I don’t collect them myself but keep reading about crazy gains that hobby has made since the pandemic.

 

Cards that were $500-1,000 a couple of years ago are going for $50k plus and there’s 12 month backlogs at the grading companies that certify condition.

 

Makes you count your blessings as a vinyl collector.

yeah this is the most insane thing to me. i love baseball cards and it would be insane to try to start collecting right now

[CeCeCe]

Ultimately I don't think it will make the slightest difference given Discogs & Ebay have such a massive presence in the vinyl resale market already. All it will do it provide an extra avenue for some  sellers to use.

 

It still will depend on the knowledge of the individual to buy the rare item in the 1st place and have the product know how to be ahead of the curve to beat the actual fans to the drop which the casual seller will find hard, and there is no guarantee for them that just as something is limited its that desirable. Like others have said it will most likely be lots of UO stuff and items from Travis Scott/The Weeknd type artists (current;y seems to be 90% those exact ones at the moment)  that are obvious easy targets but that anyone here would have picked up 1st thing anyway, so praying on the uniformed ultimately.

 

I expect a healthy portion of The Weeknd Balloons 10th anniversary complainers were heading to sell there and got stung by the changes which happens a lot more in vinyl presses than the other items they cover. 1000 press can easily become 2000.

 

The packaging and shipping of Vinyl is also a lot more of a hassle and risk than most items there as well.

 

  

Edited April 11, 2021 by craigeduk

[aopps42]

On 4/9/2021 at 5:16 PM, SNEAKORDS said:

If you don't know StockX, it's a plague on the sneaker industry that has expanded to clothes, then toys like Lego and Funko, then graphics cards & PS5s, and now they're adding records. Basically anything someone can use a bot to buy up and then sell for 2-5x the original value while screwing over people trying to buy at retail is going to be resold on StockX by people that flip things for a living.

 

 

 

Will it really make a difference when we have Discogs and the like? Who knows. At the moment it seems to be 90% Travis Scott listings with a 20% markup in comparison to discogs, so the target market are resellers who don't give a shit about what they sell as long as they make a few bucks and Travis Scott fans\hypebeasts that buy a record to hand on their wall next to their Travis Scott Reese Puffs and McNugget pillow. I'm sure that even though they have their "authenticators", StockX doesn't know a damn thing about records. You can only list your ask, there's nothing about record condition to go through or anything, so if it's like sneakers and accessories, everything has to be 100% mint condition no exceptions, which is funny considering how many records come from labels with corner dings, sleeve tears and the occasional warp. Not to mention people are not going to know how to properly ship records.

 

 

 

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So if you have a stash of mint sealed records from Travis Scott, Kanye or The Weeknd that you want to get rid of, you might be able to make a little more than you would off of Discogs. I hope it stays to just a selection of overhyped gimmick rap releases.

This isn’t new, and I don’t think anyone with a brain is buying records off there. 

[SNEAKORDS]

2 hours ago, aopps42 said:

This isn’t new, and I don’t think anyone with a brain is buying records off there. 

It literally went live on StockX on friday, so yeah, it's new.  And I never said anyone smart is buying off there, as I mentioned it's 90% travis scott stuff, but people who sell on StockX WILL put in effort or buy up stock to sell on there and inflate prices because they can, which might impact resale elsewhere. If you can get 20% more on StockX, you'll either sell there or increase the price on discogs, it's not rocket science.

[unknown pleasures]

1 hour ago, SNEAKORDS said:

It literally went live on StockX on friday, so yeah, it's new.  And I never said anyone smart is buying off there, as I mentioned it's 90% travis scott stuff, but people who sell on StockX WILL put in effort or buy up stock to sell on there and inflate prices because they can, which might impact resale elsewhere. If you can get 20% more on StockX, you'll either sell there or increase the price on discogs, it's not rocket science.

I don’t necessarily think this is true, prices seem to very between eBay, Discogs, Amazon, etc on the same records now even when they stay within a range on the specific sites themselves.

(At least on types of things I look for...)

[stl_ben]

They have been selling some records on there for over a year now.  Many Kanye, Ariana, Travis Scott, etc releases for awhile.

At least in my experience not a lot of actual sales there, just people pricing stuff with crazy price tags.

[Reshiram]

On 4/10/2021 at 1:49 PM, Oblivions said:

My theory is that the pandemic has saved wealthy people a ton of money they’d have spent on dining out and in-person entertainment. If you were doing great pre-pandemic, it seems like for some of those people things got even better. And those entertainment dollars are going into indoor hobbies that you can engage with via mail order. I’ve seen a ton of records that used to go for $35 on the secondary market jump to $100. And I’ve listed some of my own that have skyrocketed and made quick sales. Add in Vinyl Me Please setting expectations at $45 per new record for new/returning collectors and I think you’ve got a certain segment of the population splurging happily on vinyl. But I’m making all this up based on anecdotal experience so who knows.

Yeah, I started collecting Blu Rays during the pandemic due to more disposable income. r/vinyl is flooded with more and more people posting their first purchases. It's safe to say people are spending money on hobbies.

[Corgipants]

On 4/10/2021 at 7:18 PM, unknown pleasures said:

You guys should see what’s been happening with sports cards. I don’t collect them myself but keep reading about crazy gains that hobby has made since the pandemic.

 

Cards that were $500-1,000 a couple of years ago are going for $50k plus and there’s 12 month backlogs at the grading companies that certify condition.

 

Makes you count your blessings as a vinyl collector.

I casually got back into Pokemon cards 5-6 years ago, from my usual sources I could get booster boxes for about 80$, but since having a kid I've been out for a little bit but was bored the other day and went to oder one and they're 200$+ this market is insane. 

Edited April 12, 2021 by Corgipants

[TheGhostOfRandySavage]

8 minutes ago, Corgipants said:

I casually got back into Pokemon cards 5-6 years ago, from my usual sources I could get booster boxes for about 80$, subce having a kid I've been out for a little bit but was bored the other day and went to oder one and they're 200$+ this market is insane. 

Yeah, the pokemon shit is nuts. I bought a booster box to open with my nephew a while back for ~$100, and since then it's been near impossible to even find stuff near retail.

[Deathbyart]

I feel like the secondhand market has just been terrible for months now. I very rarely buy anything these days when people for some reason are wanting hundreds of dollars for an album that was $30 6 months ago. 

[deftbarley]

The worst is seeing retail marking up prices straight from the jump. Not even secondary market. I was in Salzer's in Ventura, CA over the weekend and they have RTJ4 for $50.  Still in print straight from the distributor. It's a $35 record but it's getting a considerable markup before it even hit's the secondary market. I've seen the same with sealed RSD releases. Super fucked.

Edited April 13, 2021 by deftbarley