Continuing My Adventures In Reselling
Updated: Jun 12, 2022
Using the resale/consignment platforms including ThredUp, Poshmark, Crossroads, Mercari and most recently The RealReal has been exciting and somewhat rewarding on the financial side. Since I focus on reselling only during the weekends and maybe a few hours one or two nights a week, I'm not at the point of having set opinions about reselling /consigning and about the different platforms. Yet, passing along some experiences and thoughts so for those considering decluttering and participating in circular fashion and maybe hoping for a few extra bucks, perhaps these points will help.
For me, each platform has benefits and drawbacks. ThredUp and Crossroads were similar experiences for me as both sent a big prepaid plastic bag for me to fill up. Both gave tips as to what brands and items are in demand. Since I didn't have most of those wants I nevertheless carefully selected items and filled the bags and mailed them. After the packages were mailed the two platforms provided a different experience. With ThredUp, it took several months for the items to reach their website. They were transparent and kept in touch, noting it would be a certain date the bag would be processed so that was a nice touch. Each of the about 11 items was accepted but in the end only 8 sold. I believe after a set time if an item didn't sell it got a home someplace else. I was alerted each time I was able to get paid out and it was a simple process to get the money transferred to my PayPal account.
Crossroads processed my bag much faster and sent a check in a few weeks. I've no idea if any of the items shipped to them sold in their own stores. An ironic point is that in the bag sent to ThredUp I included an in demand brand "Madewell"-- an unworn blouse with tags or as they write that in the reseller world (NWT) and if it sold I believe I was to earn $3.57. It didn't sell. But a Madewell jacket and pants sold with rather small proceeds too. Again, ThredUp was very clear what the payout percentage is to be-- that is based on the selling price. But of course, when the clothes are sent to ThredUp one has no idea what they will be priced at on the website. Overall, the proceeds from these two platforms were quite small. Of course though if I sent highly demanded products maybe more would have sold and the payouts higher. Go figure!
Looking back on my ThredUp and Crossroads efforts, and then based on my experiences with Poshmark, I think I could have made out better financially if I placed this stuff on Poshmark. On the very, very positive side I was glad to have made a super start by using these two platforms in my decluttering efforts. Lesson learned: It is easier to have another party take photos and write the descriptions that ThredUp did. But if one is handy with a camera, can take good photos and write an engaging and accurate description I'd move away from the two platforms mentioned above and spend more time on Poshmark.
When evaluating Poshmark, where I've placed most of my efforts, the biggest benefit for me is the postage and mailing. There are flat postage rates, based on weight tiers of packages. Most of my packages are less than five pounds so the only postage decision is whether I'd pick up the full postage of $7.67 so buyer pays nothing, or when listing the item I could have the buyer pay the $7.67, or part of the postage. A good part is that you can always play around with who pays and how much of the postage through the life of the listing. Once postage determined and sale made the seller prints a shipping label. The label is then attached to a USPS box or a box the seller has on hand or buys. Easy peasy! Another great feature of Poshmark is it sells not only fashion but also home goods and electronics. I had a pair of candlesticks I liked but never used, so off to Poshmark the pair went and then sold.
The drawbacks I've experienced so far with Poshmark is how to price the item. Having
sold 45 items I must be pricing them somewhat ok. Or pricing them too low, with generous postage perks! Poshmark has quite a few events / giveaways to encourage sellers to lower prices and include a shipping discount. The two Poshmark mysteries for me are: (1) What to do when someone"likes" one of my items. (2) What is the time frame to lower the price of an item if it isn't "liked"or sold? When an item is liked: That typically means-- I think you are supposed to lower the price and postage to the liker(s). Here's where I'm stuck. Do I lower it immediately? If I do might I look desperate and then the liker will have the upper hand and make an even lower offer? Or do I lower the price later in the day, the next day, or in a week? Regarding the time to wait to lower a price, should it be during the Poshmark events or based on something else? Of course it could depend on if the earnings are needed and what profit amount makes sense. Reselling is a hobby and not a business for me. Yet, of course I don't want to "give away the store." Compensating for my pricing anxiety on Poshmark is the fact that once an item sells, the process to ship and get paid is quick and easy.
Ebay seems overwhelming to me. I've registered but have not posted anything. The articles about their rules and others reporting a challenging selling atmosphere make me skittish. However, when I have a few vacation days I'm going to give it my attention. I've posted just a few items on Mercari and paid little attention to them. The postage and shipping aspects don't look as simple as Poshmark's. I'm not dismissing this platform. So when I have a few vacation days Mercari will also get my attention.
A few weeks ago after finally realizing I'd never wear some of my higher priced and luxury brands fashion items, which are more than a few years old I decided to explore The RealReal. I was planning to drop off a pair of shoes at a New York City location and reached out to them for help and by consigning one item I thought I'd learn the process. But once I had an "Elite Luxury Manager" assigned to me, I ended up gathering up 10 items that were within a few days picked up by The RealReal. That was great customer service having picked up the items. It saved me at least two hours and transportation costs. I've been informed it takes about a month for items to post to the site. Working my way through TheRealReal is proving a bit difficult. The guidance is to review the "My Sales" page to track your sales progress, I haven't seen anything posted there yet.
However, in recent days I saw three of my items posted. And the best that could happen... Two have sold! The two items -- two pairs of Rupert Sanderson pumps. Because they are unique they were easy to see when I did a search/filter for them. The sale for one pair is shown in this post. (Despite the 20%discount, my payout is based on the $195. Hooray!) So far the fun part of The RealReal is seeing the price it attaches to the items. For selling these Rupert Sanderson pumps with a gold embellishment I'm glad I used a consignment platform. I didn't known how to price them. In fact though never worn, and box included I think $195 is much more than what I would have listed them for. I don't know the resale market for this brand and this particular style of shoes. Ebay, Mercari and Poshmark I believe would not be a place people would think of buying Rupert Sanderson shoes. Perhaps Tradesy would be a good platform for these and my other better stuff-- but I've yet to explore that platform.
Yep, I'll be adding reviewing and understanding the Tradesy platform to my vacation plans! Happy reselling!