Anyone Ever Buy and/or Sell on Tradesy?

[rosetina]

Couldn't Tradesy be sued for double dipping (i.e. return the seller's item and only issue site credit for the buyer)? I feel like that goes against their POS unless this has been changed. I haven't sold anything on Tradesy for the last 2 years and I am so glad I am done with them based on the comments made here.

That is exactly what I was getting at in my previous post. They are rejecting items all for various reasons, like not able to determine fair market value, not as described, etc. And then denying buyers refunds for the same reasoning.

I contacted my sales manager stating this was unethical and likely illegal, and she said to me explicitly that in those situations of fair market price buyers were being offered full refunds. I can't imagine that she would just outright lie to me like that in writing. But I also really just don't believe them. The benefit to them is obvious, keep 100% of the sale. It is rare for gift cards to ever be used at exactly their value, people either spend more than their credit amount or less, always benefiting tradesy's pockets. I am planning to send an email to all their execs. I still have not received my funds from the 8th of this month. When one item was returned for "not being able to determine fair market value," they reversed a completely unrelated sale that never had any issues or return requests for any reason. I resent the money on the 12th, still haven't received it.

 

[ThisVNchick]

That is exactly what I was getting at in my previous post. They are rejecting items all for various reasons, like not able to determine fair market value, not as described, etc. And then denying buyers refunds for the same reasoning.

I contacted my sales manager stating this was unethical and likely illegal, and she said to me explicitly that in those situations of fair market price buyers were being offered full refunds. I can't imagine that she would just outright lie to me like that in writing. But I also really just don't believe them. The benefit to them is obvious, keep 100% of the sale. It is rare for gift cards to ever be used at exactly their value, people either spend more than their credit amount or less, always benefiting tradesy's pockets. I am planning to send an email to all their execs. I still have not received my funds from the 8th of this month. When one item was returned for "not being able to determine fair market value," they reversed a completely unrelated sale that never had any issues or return requests for any reason. I resent the money on the 12th, still haven't received it.

You should probably reach out to your buyer and see if she got a full refund. I highly doubt buyers are returning on the basis of "not a fair market price". At least when I buy, I do my research first and then buy. I buy what I feel I can afford. I don't think I've ever bought anything and then later said to myself, this isn't a fair market price. That thought just never crosses my mind. Either I know I can afford it (and buy it) or I can't (and move on).

I would bet that there are many cases of Tradesy double dipping. You just need to find a long list of people who have been affected, get together and file that class-action lawsuit!

 

[BeenBurned]

FTLOG! There's no such thing as "fair market value," especially on the types of items that are sold on Tradesy (as well as every other second hand market site).

An item is worth what a buyer is willing and able to pay and what a seller will let it go for and THAT is "fair market value."

Tradesy's way of thinking is that FMV is automatically reduced (for depreciation) from original retail. But I like to take an example that shows exactly the opposite. (This is clearly not intended to compare a car to clothing/shoes and accessories but intended to be a graphic example of how BS Tradesy's understand of FMV is.)

When Ford Motor Company first came out with its Mustang in 1964, the basic sticker price was $2,368. By Tradesy's calculations, the 55 year old car would now have a "fair market value" of about $10!

That's a far cry from this one, selling for over $24K:
1964 Ford Mustang
Or this one for $63K:
1964 Ford Mustang
In fact, this is the least expensive my quick search found at $12,950:
1964 Ford Mustang


What I don't understand is why so many of you stay with Tradesy! I get why you may have originally started selling there with their low fees, not having to worry about taking returns, speedy payouts, etc. but every one of those reasons have changed and instead of showing displeasure by walking away, you just complain.

As long as they know you're still with them, they have no reason to try to fix their ways.

JMHO.

 

[whateve]

FTLOG! There's no such thing as "fair market value," especially on the types of items that are sold on Tradesy (as well as every other second hand market site).

An item is worth what a buyer is willing and able to pay and what a seller will let it go for and THAT is "fair market value."

Tradesy's way of thinking is that FMV is automatically reduced (for depreciation) from original retail. But I like to take an example that shows exactly the opposite. (This is clearly not intended to compare a car to clothing/shoes and accessories but intended to be a graphic example of how BS Tradesy's understand of FMV is.)

When Ford Motor Company first came out with its Mustang in 1964, the basic sticker price was $2,368. By Tradesy's calculations, the 55 year old car would now have a "fair market value" of about $10!

That's a far cry from this one, selling for over $24K:
1964 Ford Mustang
Or this one for $63K:
1964 Ford Mustang
In fact, this is the least expensive my quick search found at $12,950:
1964 Ford Mustang


What I don't understand is why so many of you stay with Tradesy! I get why you may have originally started selling there with their low fees, not having to worry about taking returns, speedy payouts, etc. but every one of those reasons have changed and instead of showing displeasure by walking away, you just complain.

As long as they know you're still with them, they have no reason to try to fix their ways.

JMHO.

the only reason I'm still there is because I want my items to sell and the more venues I use, the greater chances I have of that happening.

 

[BeenBurned]

the only reason I'm still there is because I want my items to sell and the more venues I use, the greater chances I have of that happening.

I do get that. I really do! But it's still giving Tradesy tacit approval for the way they conduct themselves.

I tend to (often) bite myself in the butt because I'll boycott sites and businesses if I don't like the way they do business.

 

[MyAwesomeFinds]

That is exactly what I was getting at in my previous post. They are rejecting items all for various reasons, like not able to determine fair market value, not as described, etc. And then denying buyers refunds for the same reasoning.

I contacted my sales manager stating this was unethical and likely illegal, and she said to me explicitly that in those situations of fair market price buyers were being offered full refunds. I can't imagine that she would just outright lie to me like that in writing. But I also really just don't believe them. The benefit to them is obvious, keep 100% of the sale. It is rare for gift cards to ever be used at exactly their value, people either spend more than their credit amount or less, always benefiting tradesy's pockets. I am planning to send an email to all their execs. I still have not received my funds from the 8th of this month. When one item was returned for "not being able to determine fair market value," they reversed a completely unrelated sale that never had any issues or return requests for any reason. I resent the money on the 12th, still haven't received it.

Why did they reverse an unrelated sale rather than just not release the earnings from the returned sale?

 

[MyAwesomeFinds]

the only reason I'm still there is because I want my items to sell and the more venues I use, the greater chances I have of that happening.

I think for you it makes sense if most of your items are under $50 so they’re final sale. For non-final sale items, yeah you might have a sale but there’s always the chance of it being reversed weeks to months later so there’s no peace of mind.

 

[One_of_the_girls]

Exactly right. In fact
Tradesy is running a pyramid scheme - using the sellers and buyers to launder money so their company looks healthy.
They are stealing money for non existent product inventories because the products are no longer among their inventory since they've been shipped back to the sellers - but they have already gotten cash for it. They use the cash to pay investors and for operating expenses and give credit (monopoly money) to buyers. Meanwhile, they rely on the SELLERS to provide the inventory (free to Tradesy) for buyers to use their credit on so whether or not Buyers keep or return the item - Tradesy gets paid for the item.
Tradesy actually now does BETTER by encouraging returns because they get the FULL CASH PRICE for the item, instead of "just" their 25% COMMISSION..So they have CASH on their books - carry monopoly money credits on their books which only count against collectibles IF a BUYER uses them - and how many Buyers will just let the credit languish unused? A lot of them, especially if Tradesy starts losing inventory because sellers like me are fed up with spending so much time and effort to make nothing - or wind up with a loss.
I wonder if Tradesy hires "stylists" and encourages their business partners and friends of staffers to buy items for returns so they can get the cash for it? I do think this new scheme needs to be investigated by the FEDS.

Sounds dicey. If buyers dont get $ back then sellers shouldnt be getting stuck with returns. Site credits means Tradesy still carries their original commissions as profits until and if the site credits are used. Are items unavailable for sale still coming up in searches. If so they are probably still counted in their inventory. Sounds liked cooked ooks. Sellers that have had listings prior to this change should at least have been given the right to decline to accept returns and have their items all marked as final sale then let the buyer decide if they want to still buy. Tradesy wants to continue saying they allow all returns for no reason but placing the risk on the seller. Sellers who deem not to opt out and agree to take returns should be offered a commission reduction. Fair is fair.

 

[One_of_the_girls]

I have had some success on Poshmark. If you want to PM me your closet name I am happy to look at it and see if I can offer any suggestions.

I was spending more time playing stupid social share and party games on Posh then any other platform and sell nothing on Posh but other platforms I spend zero time on after the initial listing have sales so I am no longer player posher games. lol.

 

[One_of_the_girls]

I think for you it makes sense if most of your items are under $50 so they’re final sale. For non-final sale items, yeah you might have a sale but there’s always the chance of it being reversed weeks to months later so there’s no peace of mind.

Except I am not willing to let my things fo that cheap. I do hold my breath though after each sale for 2 mths likeI did when I sold on Ebay which I stopped selling on because it was too stressful with too many risks and crummy buyers. It seems Tradesy is following that approach but the only thing that saves them is the returns still go through them which at least saves the seller from getting empty boxes or dirty laundry back or having return packages redirected on them etc.

 

[ShoeSquirrel]

I ordered a bag last Thursday and as of this morning, the seller says she still hasn't received the shipping kit from Tradesy. Is this normal? Can I ask her to change the shipping method at this point?

 

[whateve]

I ordered a bag last Thursday and as of this morning, the seller says she still hasn't received the shipping kit from Tradesy. Is this normal? Can I ask her to change the shipping method at this point?

Yes, that's normal. Depending on where your seller is, it could take a week for her to get the shipping kit. I believe it is too late for her to change the shipping method. In the future, you should ask sellers if they are going to be using the shipping kit, and encourage them to use the label instead. It will reduce the cost a bit.

 

[ShoeSquirrel]

Yes, that's normal. Depending on where your seller is, it could take a week for her to get the shipping kit. I believe it is too late for her to change the shipping method. In the future, you should ask sellers if they are going to be using the shipping kit, and encourage them to use the label instead. It will reduce the cost a bit.

I wish I'd known to check on that before I placed this order. I've bought a few things on there and have never run into this before. I'm not in a rush for it, but it would be nice to not have to likely wait at least 2 weeks for something that's already paid for. I guess I'll know for next time.

 

[AtiaOfTheJulii]

I recently sold a pair of Chanel shoes that are no longer on the Chanel website as they are from last year. The box had the price on them and I sold them for about $250 less then retail. They told me that they couldn't figure out the market value and returned them to me. I asked why that is since the price is very obviously printed on the shoe box. They told me that the price printed on the box is not valid and they must be able to confirm that online or on a competitors website. I find this bizarre.

 

[Love Of My Life]

I recently sold a pair of Chanel shoes that are no longer on the Chanel website as they are from last year. The box had the price on them and I sold them for about $250 less then retail. They told me that they couldn't figure out the market value and returned them to me. I asked why that is since the price is very obviously printed on the shoe box. They told me that the price printed on the box is not valid and they must be able to confirm that online or on a competitors website. I find this bizarre.

Bizarre for sure.. its obvious their knowledge is limited...