As the second-hand market continues to rise in popularity, many are turning to luxury consignment sites like The RealReal to declutter their closets and make some extra cash. Whether you're a seasoned seller or a first-timer, here are eight essential things you need to know before selling your items on The RealReal:
1. Item Acceptance Criteria
Before sending anything, please ensure your items align with The RealReal's acceptance standards. The platform specializes in luxury and contemporary brands such as Kate Spade, Tory Burch, and Marc Jacobs, but it also accepts a wide array of categories, including women's and men's clothing, kids' items, fine jewelry, watches, art, home goods, and collectibles. To maximize your chances of acceptance, consult its Designer Directory for a full list of accepted brands.
2. Condition Matters
Items must meet The RealReal's condition standards to be listed. High-quality photos, accurate descriptions, and ensuring that your items are in pristine condition will improve your chances of having them accepted. The RealReal handles all aspects of the listing process, including authentication, photography, and shipping, so your items need to meet their standards from the get-go.
3. Consignment Period and Unsold Items
If your item doesn't sell by the end of the consignment period, RealReal offers two options: they will either return the item to you at no cost or repurpose or donate it to a charity of their choice. This ensures you have a plan for your unsold inventory, making the process stress-free.
4. Payment Methods
Once your item sells, you have a variety of payment methods to choose from. You can opt for a direct deposit, a mailed check, or site credit. Notably, if you trade your items, you’ll receive payment upfront within two weeks through site credit. For those preferring immediate liquidity, this is an attractive option.
5. Earning Potential
Your earnings depend on the selling price of your items. You can earn up to 85% of the selling price, making it one of the most competitive consignment rates in the industry. High-demand items like handbags, fine jewelry, streetwear, men's sneakers, and luggage tend to sell the best and may offer the highest profitability.
6. Strategic Pricing
To maximize profits, compare prices across multiple platforms like Poshmark and eBay. Be aware that The RealReal tends to lower the listing price rather quickly—sometimes by as much as 50% after just 10 days. Being realistic about potential discounts and researching fair market values can help set your expectations and pricing strategy accordingly.
7. Streamlined Process
One of the major perks of selling with The RealReal is their streamlined process. You can schedule an in-home consignment appointment where a Luxury Manager will handle everything for you—from photographing to listing the items online. If you prefer, you can also opt for a UPS pickup or drop off your items at a nearby store. The platform’s “white-glove” service ensures a hassle-free experience.
8. Customer Reach
With over 33 million shoppers, The RealReal offers an extensive marketplace for your items. New consignors can also receive an extra $100 for their first consignment during promotional periods. This vast audience increases the likelihood of your items selling quickly and at a good price, making The RealReal a top choice for luxury consignment.
In conclusion, selling on The RealReal can be a rewarding experience if you’re well-informed and prepared. From understanding the acceptance criteria to navigating the consignment process and maximizing your profits, these eight insights will help you get started on the right foot. Happy consigning!
