{"id":12898,"date":"2017-11-07T10:01:16","date_gmt":"2017-11-07T15:01:16","guid":{"rendered":"https:\/\/stockx.com\/news\/?p=12898"},"modified":"2019-06-14T10:54:19","modified_gmt":"2019-06-14T14:54:19","slug":"announcing-first-ever-stockx-watch-ipo-shinola","status":"publish","type":"post","link":"https:\/\/stockx.com\/news\/announcing-first-ever-stockx-watch-ipo-shinola\/","title":{"rendered":"Announcing The First Ever StockX Watch IPO With Shinola"},"content":{"rendered":"

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Fellow Detroit brand Shinola is venturing into new territory this week with the release of their first mechanical wristwatch, the Lake Erie Monster. Shinola is offering five unnumbered “000\/500” prototype samples of the Lake Erie Monster in an initial public offering (IPO) right here on StockX Watches. The StockX Watch IPO with Shinola is the first time a watch unavailable to the public will be offered directly on the StockX platform. The five highest Bidders will receive the “000\/500” prototype sample Lake Erie Monster watches, with funds raised going to The Empowerment Plan,\u00a0<\/a>the\u00a0Detroit Children\u2019s Fund<\/a>, and Cleveland Metropolitan School District\u2019s Project ACT<\/a>. Full details on the IPO and the watch itself below. <\/span><\/p>\n

The StockX Watch IPO with Shinola<\/b><\/p>\n

The <\/span>StockX Watch IPO with Shinola<\/span> allows buyers to place bids on the Lake Erie Monster at <\/span>StockX.com<\/span><\/a>. Bidding starts at $2,250.00 (the watch retail price) and runs from November 7, 2017, at 10 am EST to November 12, 2017, at 10 pm EST. Once the bidding period has ended, the watch will be sold to the five highest bidders who can either take possession of the watch or choose to resell on the StockX platform where trading can continue, uninterrupted. All proceeds from the StockX IPO of the Shinola Watch will be donated to The Empowerment Plan<\/a>, the\u00a0Detroit Children\u2019s Fund<\/a> and Cleveland Metropolitan School District\u2019s Project ACT<\/a>, less applicable payment processing fees. Bidding is restricted to residents of the USA. <\/span><\/p>\n

Place your Bid right here<\/a><\/strong>.<\/span><\/p>\n

The Watch<\/b><\/p>\n

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The Lake Erie Monster is Shinola\u2019s first-ever mechanical watch, and it comes in the form of a classic diver. Shinola has housed an Argomatic R-150 caliber within the Lake Erie Monster\u2019s 43mm steel case. The automatic movement features 40 hours of power reserve, and a date complication situated at 4 o\u2019clock on the dial. The 316L steel case is comprised of mostly brushed surfaces, with a polished curved edge that follows the length of the lug. The dial of the Lake Erie Monster is black enamel, a material that adds a unique foundation to the look and feel. Atop the glossy surface are applied large, lume filled hour makers; the Shinola marquee; and the caliber designation: Argomatic-R150. The bezel is brushed in texture with raised, ceramic numerals appearing at every ten-minute mark. The oversized hour and minute hands make for high legibility in nearly any environment. This is a crucial detail to get right when it comes to dive watches and Shinola has nailed it with the Lake Erie Monster. <\/span><\/p>\n

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The Lake Erie Monster takes its name from a bit of lore of the Great Lakes, and a fictional sea monster said to reside in Lake Erie. The monster is emblazoned on the caseback of the watch, with a blue gem set in the eye. Framing the monster is the serialized production number, and with these 5 examples, each will read \u201c000\/500\u201d denoting their limited status. <\/span><\/p>\n

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These five \u201c000\/500″ watches will come packaged with a bespoke leather tech portfolio; a Princeton Tech diver\u2019s flashlight; diver\u2019s map of the Great Lakes; a stainless steel three-link bracelet; and an additional black rubber dive strap and black fabric strap. A numbered plate and unique Shinola + StockX authentication card will also be included.<\/span><\/p>\n

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Press Release<\/em><\/p>\n

StockX & Shinola Partner to Launch World\u2019s First Watch IPO Featuring the “Lake Erie Monster” \u2013 Shinola\u2019s First Mechanical Watch <\/strong><\/p>\n

– This is the third consumer goods Initial Product Offering (IPO) on the StockX platform and funds from the IPO will benefit The Empowerment Plan, the Detroit Children\u2019s Fund, and\u00a0Cleveland Metropolitan School District\u2019s Project ACT \u2013<\/strong><\/p>\n

November 7, 2017 [DETROIT]<\/strong> \u2013 Detroit-based StockX, the world\u2019s first online “Stock Market of Things” for high-demand consumer products, today announced a historic offering in conjunction with Shinola to IPO the brand\u2019s first mechanical watch \u2014 the Lake Erie Monster \u2014 directly onto the StockX platform.\u00a0 Shinola\u2019s first serialized dive and self-winding timepiece is limited to just 500 individually numbered pieces. The StockX IPO is for five unnumbered “000\/500” Lake Erie Monsters, with a five-of-a-kind Lake Erie Monster Tech Portfolio and a special authenticity card, and is not otherwise available to the public or to be purchased at retail.<\/p>\n

\u201cStockX has been built, in every way, to replicate the functionality of the worlds\u2019 stock markets\u201d said Josh Luber, CEO and Co-Founder of StockX. \u201cThat functionality, on one hand, provides a more efficient secondary market, but it also facilitates a better way to release products into the market \u2014 i.e., the IPO of consumer goods. For our first watch IPO, the opportunity to work with Shinola, another Detroit company, on their first mechanical watch was a perfect fit.\u201d<\/p>\n

Shinola, the six-year-old brand which has only ever produced quartz-movement watches, is taking a huge leap forward with its first-ever timepiece to utilize a fully automatic movement. \u00a0The Lake Erie Monster, named after an unidentified creature first spotted in 1783, celebrates the Great Lakes as well as the explorers, sailors, pioneers and divers who have spent centuries discovering the wonders of the nation\u2019s largest freshwater lakes. The watch is machined from 316L stainless steel and the 43mm case is inspired by the elegant lines of classic sailing ships and is rated for depths of up to 1,000ft (30ATM). It is powered by the Argomatic R-150 automatic movement, which features 25 jewels and a 40-hour power reserve.<\/p>\n

\u201cWe are thrilled to partner with StockX on their first watch IPO,\u201d said Jacques Panis, President of Shinola.\u00a0 \u201cIt\u2019s a great opportunity to celebrate our first automatic timepiece and to raise money for three important Detroit charities \u2014 The Empowerment Plan (TEP), the Detroit Children\u2019s Fund (DCF), and Cleveland Metropolitan School District\u2019s Project ACT.\u201d<\/p>\n

\u201cWe are very excited to be a part of Shinola\u2019s entry into the world of mechanical watches,\u201d said Reg Brack, GM, Watches at StockX. \u201cThe Lake Erie Monster combines a classic dive watch aesthetic with a unique enamel dial and automatic movement resulting in something truly special.\u201d<\/p>\n

This is the third IPO of limited-edition consumer product for StockX. The first IPO took place in August 2016, when the company partnered with Roc-A-Fella records to launch limited-edition merchandise to celebrate the twentieth anniversary of Jay-Z\u2019s first album, Reasonable Doubt. In January 2017, StockX partnered with Nike and the Cleveland Cavaliers on its second IPO, a package including LeBron James\u2019 first retro sneakers, a commemorative sneaker box made from the Cavalier\u2019s championship court, and a 2016 NBA championship ring.<\/p>\n

How the Shinola IPO Works<\/strong><\/p>\n

The Shinola IPO allows buyers to place bids on the Lake Erie Monster at StockX.com<\/a>. Bidding starts at $2,250.00 (the watch retail price) and runs from November 7, 2017 at 12pm EST to November 12, 2017 at 10pm EST. Once the bidding period has ended, the watch will be sold to the five highest bidders who can either take possession of the watch, or choose to resell on the StockX platform where trading can continue, uninterrupted. Funds raised from the bids will be distributed to The Empowerment Plan, the Detroit Children\u2019s Fund,\u00a0Cleveland Metropolitan School District\u2019s Project ACT.<\/p>\n

The StockX process helps to establish the true market value of the product, and like the New York Stock Exchange, facilitates immediate secondary market trading after its initial release.<\/p>\n

Each Shinola IPO Package Includes<\/strong><\/p>\n