This was the response from Tradesy on how they are calculating market price. I also included my response and the guy's truthful concession that the policy sucks but he can't do anything about it. Essentially they are saying if the item can't resell in 30 days it is priced too high. That is total BS because MOST high end designer items don't sell in 30 days. People research and save and plan for those purchases. I listed a Chanel jumbo double flap in pristine condition on 2 sites last year (not Tradesy thank god) and it took 6 months to sell at $5k. But $5k was right in line with the selling price for the item across all designer resale sites. They would have me list it way below market just so they could dump it faster if it got returned to them. Anyway, this was the exchange:
****** (Tradesy)
Apr 7, 8:41 PM PDT
Hi ***********,
Thank you for your honest feedback. I completely understand where you're coming from and I can see how frustrating this is for you.
You're absolutely right, there should be some sort of notification if the price meets the requirement, and if it were up to me I'd change the policy for you, but unfortunately I don't have the ability to do so.
I did however, make a note of your feedback and concerns with this policy. I truly do wish there was more I could do for you.
I know this was not the outcome you had wanted, and if there is any other issue I can assist with please do let me know.
Thanks, ******
************ (Me)
Apr 7, 11:08 AM PDT
The problem is that when listing an item, I am not notified whether my price meets your factors such that I won't be forced a return. I should be definitively notified when listing an item that I will not have it returned to me as long as it is accurately described. I am not interesting in having items returned to me. The whole point of selling on tradesy and accepting your high fees was so that I would not have to accept a return. You have now removed the reason to sell on tradesy, except for items that are final sale such as wedding items.
I also sell on Poshmark and eBay, where all of my items are final sale. You are going to lose a lot of market share as sellers pull their items for fear of having a return forced on them.
*******(Tradesy)
Apr 7, 10:55 AM PDT
Hi ******,
Thank you for reaching out. I'm so sorry for the confusion, but we’re happy to share more information about how Fair Market Price factors into returns decisions.
For all returns, Tradesy provides customer service to your buyer, pays for return shipping, and performs a careful inspection of the returned item - at no cost to you. We do this to protect both buyers and sellers, and always strive to resolve returns fairly.
For some returns, Tradesy keeps the item, and the seller keeps their earnings. In other cases, the item is returned to the seller, and the seller does not keep their earnings. Tradesy may decide to send returned items back to sellers for a number of reasons outlined in our
Returns Requirements, including 1) We determine that the item was priced above Fair Market Value, or 2) We cannot determine what the Fair Market Value is for this item.
Tradesy defines Fair Market Value as: The price at which there is a 95% likelihood of an item selling within 30 days.
Tradesy determines Fair Market Value through a multi-step process that includes:
- Analyzing Tradesy historical sales data
- Evaluating supply/demand curves over time
- Researching current prices on resale and retail websites
In some cases, we cannot determine Fair Market Price. This happens most often when an item is damaged or worn, or there is a lack of pricing data available.
I know this is a lot of information, but I hope that it helps to shed some light on this for you. If I can help with anything else, or if you have more questions about the Fair Market Price please let me know. I'm happy to help!