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Mark up: The million dollar market

  • Checkout
  • August 18, 2017
  • Courtney Devereux
Mark up: The million dollar market

Hyped up collaborations usually result in an extreme marked up re-sale, even just days after the original sale. This handy re-sell site shows the high percentage of which popular items are being marked up in price for desperate consumers.

There is no limit to how high an item can be marked up, if there is a demand the price will always be meet.

StockX is a re-sell platform that specialises in hyped up streetwear such as sneakers, bags and watches. The site features brands such as Supreme, Chanel, Louis Vuitton, Hermes, Gucci, and Rolex.

The sale of luxury accessories has never been a cheap business, with up market prices falling well over the $5,000 range. However, with hyped up items such as bags and sneakers that have had a lot of press surrounding their release, the quick sell out results in re-selling – for often a much higher price.

As well as guaranteeing authenticity of the items sold on its site, StockX also shows next to the item the percentage of which the price has been marked up.

For example, the Supreme x Louis Vuitton collaboration sold out within hours, and items were put up on the resale site that afternoon. Highsnobiety reported that the most marked up item was the Porte Carte Simple Red card holder, with a 199.8 percent mark-up from its RRP of USD$305, the lowest ask for the item is $890.

Source: Highsnobiety

The pieces that hold Supremes iconic bright red and white writing and doing better on the resale market than its black counterparts.

The bogo-red version of the porte carte card holder has a strong average mark-up of 200 percent, while the rest of the top ten pieces’ veer from 150 percent to just shy of 100 percent.

The bright-red Christopher backpack is an average of $5,173 more expensive than its original retail price of $3,900.

Despite the average mark-up of 100 percent, it is the Rolex section of the site that unsurprisingly brings in the most revenue.

The highest bid for a watch comes in for the Rolex Daytona 116506 at $38,500, expensive yet short of the $57,500 asking price.

The sites portfolio section shows the market values for each item, how many have sold on re-sell page and the average price of the items. Browsing users show the amount of money that an individual puts into their own re-sell collections.

User TommyP1031’s has sold 51 items from the site, all of them being limited edition Nike Air MAG Back to the Future (2016), that held an average RRP of $4,500. TommyP1031 has sold each 51 set for their new market value of $26,713 (or US$1,362,363).

There are 156,187 portfolios on the site, with each brining in thousands of dollars in revenue with each re-sell.

As long as there is demand for a hyped product there will always be space for a re-sell market. For individuals with $20,000 to spend on a single item, availability is the only barrier.

These market places show that the appeal for limited stock brands doesn’t disappear when they sell out, in fact it only drives the interest up even more. 

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Hell Pizza challenges Valentine’s Day tradition

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  • February 19, 2019
  • StopPress Team
Hell Pizza challenges Valentine’s Day tradition

Yesterday, Hell Pizza challenged the idea of Valentine’s Day with a campaign promoting a night for one, rather than a night out with the masses at a restaurant or bar.

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Just in Valen-time: Krispy Kreme shows its love

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  • February 14, 2019
  • Courtney Devereux
Just in Valen-time: Krispy Kreme shows its love

Where there is a gap in the market, it will eventually be filled. So, has reigned true for the poorly timed disappearance of Candy Hearts and Krispy Kreme’s new ‘Conversation Doughnuts’ which have seemed to take the place of the classic Valentine’s Day candy.

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Real Groovy record store moves location, again.

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  • January 31, 2019
Real Groovy record store moves location, again.

Popular record store Real Groovy is moving for the sixth time in 30 years, this time only making a small hike up Queen Street where it will resettle.

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Social scoreboard

Zavy and The Register have worked together to create a scoreboard that compares how the top 25 traditional media advertising spenders in New Zealand have performed on social media over the past 30 days, updated in real time.

 
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Hell launches ‘unruly tourist’ pizza

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  • January 24, 2019
  • StopPress Team
Hell launches ‘unruly tourist’ pizza

As the unruly tourists saga continues, Hell Pizza decided to join the conversation with a billboard 'launching' a limited edition pizza.

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Magnum’s new vegan approach

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  • January 16, 2019
Magnum’s new vegan approach

Magnum ice cream has announced the new introduction of its latest initiative, a vegan version of its classic bar.

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Gram of the week: NZ Retail Magazine

  • Gram of the week
  • December 20, 2018
Gram of the week: NZ Retail Magazine

As 2018 comes to an end, what a more fitting Instagram page to celebrate than our own. NZ Retail Magazine has had a busy year, and keeping readers up to date through our Instagram page has been an important part of that. Plus it looks pretty good if you ask any of us.

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