A new company launched by a Detroit native offers an online portal similar to the stock market for the buying and selling of high-end, limited edition products.
Businessman Dan Gilbert is a co-founder of the website StockX, which will initially feature expensive sneakers, such as those carrying the name of famous basketball players like Michael Jordan and Kobe Bryant.
Potential sellers will be able to list their never-worn sneakers at a desired price, and potential buyers can purchase them at the desired price or offer a different price.
The Detroit Free Press reports that StockX could eventually become a marketplace for watches, handbags and other luxury goods.
Gilbert is the founder of online mortgage lender Quicken Loans and owner of the NBA's Cleveland Cavaliers.
