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November 7, 2017
November 7, 2017
We just launched our first dive and automatic watch, The Lake Erie Monster. To celebrate this launch, we've teamed up with another Detroit-based company, StockX, the world’s first “Stock Market of Things", to offer an exclusive opportunity for anyone interested in purchasing one of five prototype watches available. From Nov. 7-12, five watches will be up for auction on StockX's website and have been serialized as 000/500.
All proceeds will be donated to three charities: The Empowerment Plan, The Detroit Children's Fund and Cleveland Metropolitan School District’s Project ACT. Learn more below.
How the Shinola IPO Works on the StockX site:
The Shinola IPO allows buyers to place bids on the Lake Erie Monster at StockX. 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 and Detroit Children’s Fund.
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.
Each Shinola IPO Package Includes:
• “000” Prototype Mechanical Watch: One of just five prototype and serialized ‘000/500’ Shinola Lake Erie Monster automatic watches. With this limited-edition automatic timepiece, Shinola honors the natural beauty of the Great Lakes and confirms its commitment to quality, craftsmanship, design and innovation.
• Bespoke Tech Portfolio: A commemorative ‘five-of-a-kind’ leather tech portfolio featuring a hand-cut Lake Erie Monster design that is cut and sewn in Shinola’s Detroit leather factory. The Tech Portfolio is the perfect complement to watch as it features both functionality and timeless des ign.
• Metal Watch Case: A metal watch case that includes a Princeton Tech diver’s flashlight, diver’s map of the Great Lakes, a stainless steel three-link bracelet, a black rubber dive strap and black fabric strap, all easily interchangeable with included tools.
• The Tech Portfolio and special authenticity card is not available to the public or able to be purchased at retail. This is a limited edition offer only available on StockX.com.
• Pre-IPO: Bidding opens Tuesday, November 7, 2017 at 10:00 a.m. EST.
• IPO Date: Bidding ends Sunday, November 12, 2017 at 10:00 p.m. EST. Winning bidders will be notified shortly thereafter.
• Post IPO: Once all IPO purchases are confirmed, buyers will have the opportunity to resell their Shinola IPO Package on the StockX platform.