My experience with Poshmark
Hello! Have you ever held a garage sale? You know the chaos leading up to it, labeling items, finding tables/clothing racks to display items, cleaning out the garage/driveway, and setting aside a few days to sit around and wait for people to buy your stuff after negotiating? Sooooo not my thing.
A few years ago I discovered Poshmark, an online marketplace for consumers to sell their clothing. I downloaded the app, joined, and hesitantly started listing items in my 'closet' for sale. I started with a handbag I no longer found useful. It sold after a few weeks, a lot less time than I anticipated. So I started looking through my closet and realized whenever I do a closet cleanup (after every season), I should list a lot of them instead of giving everything away.
You can buy things from a web browser, but you need the app to upload items for sale.
I've been a member since 2013, but started seriously selling in 2015 after I decided I will no longer work for someone who requires a specific dress code. Don't get me wrong, I like dressing up, but not every day. I unloaded a lot of clothing, and since I was marathon training I purchased some gently used running shorts as well as functional clothes that I can wear multiple seasons as well as traveling. Last year, I unloaded even more, since we were no longer marathon training, and were getting ready to move a long distance (and didn't need 3 months of snow clothing; more on that eventually).
Name brand items sell pretty well for 50-80% off retail pricing, depending on the wear/tear. Here's an example of a pair of BigStar jeans I sold over the summer:
To me, $45 (before 20% fees) is a lot better than having a garage sale and getting $2-10. I recommend searching other Posher's listings for something similar to what you're selling to see what you're up against, again the newness is a huge in what people are going to be paying for. Take high quality photos, modeling odd-shaped items, and being as descriptive as possible (I copy/paste more comprehensive items from the manufacturer/retailer website).
Offer a bundle discount, unless you're looking to unload items at rock bottom prices ($7 shirts, for example). I unloaded and offered a 10% discount for 3 or more items purchased, to get inventory moving. Since Poshmark takes 20%, or $2.95 which ever is greater, of your sale, keep that in mind when pricing items and negotiating. Also, shipping is USPS Priority Flat Rate $5.95, paid for by the buyer, also good to keep in mind when pricing/negotiating.
Since the shipping is USPS, after your item is purchased, you download and print a label, and attach to a box you have lying around from Amazon, or use a giant envelope you have had for YEARS since hardly anyone requires unfolded documents to be mailed anymore (or just put in file folders and mail in USPS envelopes like me) and send your cutely packaged items off to their new home. I highly recommend at least wrapping the items in tissue paper, as it keeps the smell of the Postal vehicles from the clothing, the more creative the better review you're bound to get. Reviews are visible by everyone, so you want to be a top-notch seller in every aspect.
After the purchaser receives the item, they have 4 days to review/accept it , resulting in you getting paid, or request a refund. If they do nothing within that time, your funds are automatically released to you. (The buyer has to pay Poshmark in order to trigger your item as sold, and Poshmark holds the money to make sure the item is shipped and delivered and no one is getting ripped off.)
Usually, it takes a few short days for the direct deposit (you request either direct deposit, or a check) to hit your account, or you can use your stored funds to buy other people's items. It's like your shopping budget, you can only buy what you have money for.
I love Poshmark! There's a ton of FAQ and other info to check out on their site!
Are you on Poshmark? Have you had success venturing into the online marketplace instead of holding garage sales?