Many of you have been asking me to share some info on selling on The RealReal and today I am going to do just that! Selling on The RealReal is really no different from selling on any other reselling platform. However, I have noticed that it is a platform that not many resellers are actively talking about and I am here to change that! Let me share with you some tips for successfully selling items for profit on The RealReal!
The Basics
It’s pointless for me to start sharing my tips with you without first providing you with the basics.
So, what is The RealReal exactly?
The RealReal is a reselling platform where the seller sends items to the company (through consignment) and the company then photographs, lists, and sells the item directly through the platform. All the seller has to do is send the item in and watch to see if the item sells.
When the item sells, the buyer has 14 days to return the item if the transaction was made online or 21 days if the item was purchased in-store. Once the return window passes, the seller is guaranteed his or her earnings. Earnings can be paid to the buyer through direct deposit, a check, and a few other methods and are typically paid out on the 15th of the month.
The seller’s commission varies depending on what the item is and how much it sold for. Below is a chart of the company’s commission structure directly from The RealReal’s site:
What brands does The RealReal accept?
The RealReal accepts luxury brands in excellent condition and the complete list of brands that they accept can be found in the Designer Directory HERE.
My Top 5 Tips for Successfully Selling Items for Profit
Tip #1: Do Your Research
This might seem like an obvious tip that applies to all reselling platforms and so many people either skip it or ignore it. First and foremost, do your research. And what does that mean exactly??? It means that you need to learn what brands are worth top dollar and which ones are not. Each platform is different and what sells really well on one may not sell well on another. When it comes to The RealReal, I would check and see what different pieces are priced at for each brand and familiarize yourself with that information as it will make it easier for you to find quality items while sourcing.
Tip #2: Learn Your Brands
This also applies to all reselling platforms but take the time and learn your brands. Personally, I have learned brands by scrolling through designer directories and looking up unknown brands on my phone while sourcing. Knowing your brands while sourcing makes life so much easier (and your sourcing trips shorter).
Tip #3: Don’t Be Afraid to Source on Other Reselling Platforms
This is something that I’ve been dabbling into more and more- cross-sourcing across various reselling platforms. I’ve had quite a bit of luck with this. Recently, I bought a top on ThredUp (from a brand that I was unfamiliar with but was listed on The RealReal designer directory) and sent it into The RealReal. After checking sold comps on The RealReal’s website, I discovered that this item consistently sells for $200+ making it worth the $30 that I paid for it on ThredUp.
Tip #4: ALWAYS Look at Sold Comps
If I could scream this off the top of a rooftop to my fellow resellers, I would- ALWAYS look at sold comps. This is true for all reselling websites but especially true for The RealReal. I would definitely suggest taking advantage of viewing sold items on the site as it will give you a good idea of what people are buying (especially recently sold items). It also will give you a good idea of how much items are selling for. The RealReal is a platform that offers coupon codes so items typically sell for less than their original listing prices.
Tip #5: Don’t Give Up
Like other consignment based businesses, there is a maximum time frame of how long the company will hold onto an item before sending it back to you if it does not sell. The RealReal states on their website that they will try to sell an item for top dollar in the first 30 days of it being listed. If for some reason your item does not sell, they will send it back to you free of charge and you can send it back into them to try to sell again.
If you don’t already, be sure to check out my Instagram for more Reselling Tips at @ RecycledRosesGuide (Click HERE)
I hope that you found these tips helpful and please be sure to check back for more info on The RealReal!
Baci,
Bianca Ida
