When I was a magazine art director & for publications like Vogue, Us Weekly & Allure I used to dress up to go to work…
I had a Barneys charge card, shopped at Prada & Gucci and loved get a good designer deal. Fast forward to today, I live in Upstate New York outside NYC and have little use for a tuxedo or velvet jacket.
I thought I’d sell my very best designer stuff on The Real Real, so I set up an appointment with a “luxury manager” to FaceTime and show them the goods.
Commission fee structure:
|85%||Watches with a resale list price of $2,495 or more|
|80%||Handbags with a resale list price of $4,995 or more.Men’s sneakers with a resale list price of $195 or more|
|70%||Handbags with a resale list price of $995 to $4,994. Watches with a resale list price of $995 to $2,494. Branded and unbranded jewelry with a resale list price of $995 or more. Art items with a resale list price of $195 or more. Home items with a resale list price of $995 or more (excluding furniture)Sports and Outdoor gear and equipment with a resale list price of $995 or more|
|50%||All items with an original resale list price of $146 – $195.Home items with a resale list price of $146 or more|
|40%||All items with an original resale list price of $145 or less|
In particular I had what I considered great item. In 1996, Tom Ford‘s first collection for Gucci produced a red velvet tuxedo that Gwyneth Paltrow made famous at the MTV Awards (above). It was subsequently put into the Metropolitan Museum’s Costume Institute’s collection.
This year Gucci’s current designer, Alesandro Michele announced he was reissuing Ford’s original tux design for the label’s 100 anniversary. (above left)
I have that very ’96 tuxedo, jacket and pants in very good condition, worn only a few times. I thought Ka-ching! Yes, mine is a man’s tux, but its cut is such that a woman –sans big boobs– could easily have it tailored to fit.
I have seen it for sale for THOUSANDS elsewhere (see below) so, I thought I could get a pretty good price on The Real Real. Nope.
Boy, was I disappointed when I got The Real Real’s estimates done by their fashion “experts”. Here’s my Gucci tuxedo estimate ;
• Gucci Tom Ford -Era Velvet Two-Piece Suit Per: Chelsea Mack on 06/25/21: $495 – $825. You would received 55% commission
I also had another double-breasted black velvet tuxedo jacket, a Tom Ford for YSL cashmere blazer, a Prada leather moto-jacket in navy butter-soft leather and suede, another butter leather Prada jacket, and 6-8 more desirable designer items, all in very good condition.
My collectible red velvet Gucci tux would bring me $300 –if I was lucky.
At 40-60% commission, plus an almost certain automatic discount they can take (according to the contract) of 20%, my math tells me I’d be lucky to get 10-15% of the original retail value of any one item. Sometimes even less.
Their focus in nearly every email communication was two-fold…
- sign the agreement… sign the agreement…sign the agreement…
- set up date for them to pick up your (free) stuff (“WE CAN PICK UP TOMORROW!”)
Here’s what I learned out about The Real Real after reading some online reviews…
They don’t care WHAT they sell your goods for –it costs them NOTHING. They just want to move the merchandise to make room for more and more goods they get for FREE. This is true of all sites where they set the price for YOUR items because they don’t want your item sitting on their site waiting for the right buyer, just the first one who comes along.
The website Side Hustl says,
Consignors complain that the site sometimes discounts their goods far more steeply than the sellers expected, leaving them with a much lower return than they’d anticipated. The site’s “terms and conditions” stipulate that Real Real can discount anything placed for sale on the site by 20% — immediately. Thus, if you’re selling a product that’s, say, worth $200, that cuts your take by $40. They take another 50% commission on the remaining $160 sales price. So you get $80…
The Better Business Bureau has had it’s own complaints. Below are a few;
“I sent The Real Real a Balenciaga Motocross Giant 12 iPad Case which I originally purchased at Barneys for over $400. They listed it originally at $175, but said they would never go below 50% off. Instead they sold it for $75 (over 50% off), leaving me with a measly $42.63 commission! The Real Real. It was a waste of my time and money!!!”
“The worst experience I’ve had with any company. Customer service is a joke, no effort and ability to help resolving any issues, terrible place to consign. They are friendly and easy before you send anything in. Once they have your items, it’s over. They don’t care about you as long as they make their 45% off your goods. False advertisement, misleading information. They undervalue your goods and then run an extra 20% or more sale on top of it, that means you as a consignor get real ****** money for your stuff.
“I have had only negative experiences with the company. As a consignor, they will mark down your item significantly without notifying you beforehand–so you are stuck with a final sale price that is much lower than what you would otherwise have accepted.”
TrustPilot has multiple complaints about TRR;
“I really want to love The RealReal. I mean what could be better than luxury consignment and any day, any time at your fingertips? As both a seller and buyer, I have less than ecstatic feelings about the company. Firstly, I have no control over the pricing and discounting of my items. I sent thirty like new and new with tags pieces to TRR, and I could have consigned them for better payouts from my local consignment shop. It was very disappointing…”
“I find the team not doing a good job… I think your team is purposely instructed to devalue the items and put lower prices just to stay relevant and if the consigner doesn’t have time to complain it’s their loss as the company making money regardless… I can’t even express my frustration! I really hope this will change soon because I will have no choice but reach out to Better Business Bureau with all the evidence I’ve collected through past year and there’s a LOT! It’s simply not fare to me.”
Commission fee structure:
|80%||$5,000 or more|
|60% Up to 70% with Gold & Platinum Loyalty Status!||$250-$1,499.99|
|55%||$100 – $249.99|
|45%||$99.99 or less|
OK, so LGS and The Real Real are nearly identical fee structures, so where else I sell my designer goods…?
Commission fee: 20%
If you are willing to commit the time, you have the type of merchandise that will move. Poshmark tries to be a social platform. Search results on Poshmark list items in the order they were shared. So sharing your listings frequently is important to show up in search results. Most of the items you want to sell should be gently used or better. No stains, rips, or signs of wear. You can make money ut some sellers say you need 25-30 items to generate broad interest.
Commission fee: 20%
1. Download the app, use the easy listing form, describe your item and upload images.
2. Once the item has been approved and sold. You’ll receive a pre-paid label to ship it to the brand’s HQ for authentication.
3. Once the item is shipped to the buyer; the payment is processed.
One user writes:
“I am very pleased to have found Vestiaire!! It is an amazing site to sell and buy things from! I am very impressed by many things – how easy it is to upload an item, the advice from the VC team, how easy it is to post a sold item as a pre-paid label is available, and the item is tracked!”
|Tradesy is all about luxury fashion. Use Tradesy if you’re reselling designers in the same category as Prada, Marni, Saint Laurent, Alexander Wang and Margiela.That said, Tradesy also sells brands like Zara, J.Crew and Lululemon.|
|Commission||$2.95 for sales under $15 20% for sales over $15||$7.50 for sales under $50 $19.80 for items over $50|
Commission fee: 20% for designer goods
The first step is to check if your item is eligible to be sold on eBay Authenticate by entering the brand, item type, and condition. If your item is eligible, you can then send it into eBay for authentication using a prepaid shipping label. From there, independent experts authenticate, price, and list your items for sale on eBay Authenticate. When your item is purchased, you get paid and eBay handles shipping the item to the buyer.
You will find that the verified authenticity almost always makes it easier to sell your item, rather than listing it yourself — or using another avenue of sale.