No, The RealReal does not pay upfront for items sold through its platform. Instead, sellers send their luxury items to The RealReal, and they are evaluated by experts. Once the item sells, the seller receives a percentage of the sale price.
The RealReal operates on a consignment model. This means that sellers only get paid after their items are sold. This setup allows The RealReal to manage inventory and ensure items meet their standards before being listed.
Sellers can track their items through the platform. They can see when their items are listed and sold, providing transparency throughout the process.
The commission structure varies depending on the selling price of the item. Higher-priced items tend to have a lower commission rate, which can be beneficial for sellers.
Some sellers appreciate this model because it reduces the risk of upfront costs. However, it does require patience since payment is contingent upon the sale of the item.
Sellers should also consider the time it may take for their items to sell. The luxury resale market can fluctuate, impacting how quickly items are sold.
Overall, understanding this process can help sellers make informed decisions about using The RealReal to sell their luxury items.
Does The RealReal charge any fees for selling items?
Yes, The RealReal charges a commission based on the final sale price of the item. This fee varies depending on the price range.
How long does it take to get paid after selling on The RealReal?
Payment is typically processed within a few weeks after the item sells. Sellers will be notified once the sale is complete.
Can I set my own price when selling items?
Sellers can suggest a price, but The RealReal ultimately has the final say based on their market knowledge and item condition.
What types of items can I sell on The RealReal?
The RealReal specializes in luxury items including designer clothing, accessories, jewelry, and home decor.
What happens if my item doesn’t sell?
If an item doesn’t sell within a certain timeframe, The RealReal may return it to the seller or offer to lower the price for a quicker sale.