Good for you for being so pro active & resolving this...
Anyone Ever Buy and/or Sell on Tradesy?
- Thread starter iluvmybags
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Good for you for being so pro active & resolving this...
10 days and still the money did not make it to my pay pal.
3 weeks to be able to ask for it to be transferred - now 2 MORE weeks to get it transferred.
Then will be a couple days before it hits my account.
I think I'm gonna call the consumer division for the attorney general's office and have a chat - see who regulates these payment processing platforms.
The worse part isn't even not getting paid right away - even though Tradesy takes its cut right away - its all the extra time I have to invest checking to see if there is money there or not and then having to complain to customer service every single time which seems to be the only way to coax the money out of them.
3 weeks to be able to ask for it to be transferred - now 2 MORE weeks to get it transferred.
Then will be a couple days before it hits my account.
I think I'm gonna call the consumer division for the attorney general's office and have a chat - see who regulates these payment processing platforms.
The worse part isn't even not getting paid right away - even though Tradesy takes its cut right away - its all the extra time I have to invest checking to see if there is money there or not and then having to complain to customer service every single time which seems to be the only way to coax the money out of them.
so this is a first, looks like Tradesy hooked up with Madalux Vault to sell new items. I'm not familiar with Madaluxe, just an occasion mention in past searches but not enough to pick them out of a lineup. their prices don't seem all that attractive, on the high side I find.
https://www.tradesy.com/collection/the-vault/. thoughts/comments?
https://www.tradesy.com/collection/the-vault/. thoughts/comments?
This is new. But it seems to be another pointless move by management who lost its direction over 2 yrs ago. They acquired concierge service, now they are trying to sell on the site that doesn't even have traffic.
It also means Tradesy is struggling badly and can't sell even brand new items from their closets with all the promos and exposure.
I just got the email notifying me that the last item I sold is being returned to me, because "We cannot determine the Fair Market Price for your item." It was a pair of new shoes, and I knew they were being returned because the buyer messaged me saying they didn't fit...it's so hard to sell shoes online. I wonder what specific items Tradesy actually has a 'fair market price' for?
That's lousy. I imagine they can do that with every pair of shoes. I'm glad I don't have many shoes to sell. I only buy shoes from a reseller if I know in advance they will fit. Otherwise, I'll buy from a retailer.
I just got my last transfer, on day 12. Currently I don't have any outstanding sales or transfers.
I'm so disturbed. I sold a Chanel maxi on their site after not selling with them for over a year. I was suprised it sold, but shipped it off. I, too, waited almost 3 weeks for my funds to be "available." I had called after and they told me some "algorithm" decides when to release funds. I am SUPER MAD to find out it will be about a week or more for those funds to show in my checking account. For crying out loud, I will never sell or buy from them again. Ever. This is insane. It makes me appreciate Ebay--how is that even possible????
I used to sell LV bags on Tradesy. At first they were GREAT,(approx 2-3 years ago). Commission was 9%+2.9% to PayPal and the payout time was within 72 hours from bag delivery and the transfer time to my PayPal account was within 60 minutes once I initiated it. A few months after I was selling I got an email saying commission was being raised to 13.9%. Not great but I was still ok. It was at that point that payout started lagging. At first it was a week before funds were released, then 2 weeks. Then another email raising the tradesy commission all the way up to 19.8%+2.9% to PayPal. It was unbelievable how they could increase so rapidly in such a short span of time. Even though commission was so high their email pointed out that they would not penalize the seller if a buyer returned the merchandise. Rather Tradesy would re-sell it and the seller got to keep the funds. That was huge for us sellers and I think many continued to sell even w the exorbitant commission for that reason alone. Now they never keep the merchandise. instead they use a bogus excuse that they couldn't find "fair market price" for the item no matter what the item is or condition.
My reason for severing ties was Tradesy's shady payout scheme. The last LV bag I sold with them was approx a year ago. My funds were not released for 23 days. Are you kidding me? 23 days!! They only allow a buyer 3 days return policy so they know the buyer is keeping it after 72 hours. Why on earth would they keep my funds for an add'l 20 days? Also, I had to wait another week for the PayPal transaction to process. All in all it was almost a month before I got paid. At that point I was done. I have to believe that something very shady is going on to hold sellers funds for 30 days. Either collecting interest on it or using it to cashflow the dying business. In any event, be very careful. If Tradesy files bankruptcy while your funds are being withheld, you are not seeing your money ever again. This company is corrupt. Say what you will about Ebay but at least they are fair with their commission scale and payout is immediate.
My reason for severing ties was Tradesy's shady payout scheme. The last LV bag I sold with them was approx a year ago. My funds were not released for 23 days. Are you kidding me? 23 days!! They only allow a buyer 3 days return policy so they know the buyer is keeping it after 72 hours. Why on earth would they keep my funds for an add'l 20 days? Also, I had to wait another week for the PayPal transaction to process. All in all it was almost a month before I got paid. At that point I was done. I have to believe that something very shady is going on to hold sellers funds for 30 days. Either collecting interest on it or using it to cashflow the dying business. In any event, be very careful. If Tradesy files bankruptcy while your funds are being withheld, you are not seeing your money ever again. This company is corrupt. Say what you will about Ebay but at least they are fair with their commission scale and payout is immediate.
Hi. I used to sell on Tradesy until about a year ago (due to being too busy to sell). Anyways, I bought two things from them earlier this year. Yesterday, I got an email from them asking for my feedback as a buyer on how to improve things and they will supposedly send me a $10 Amazon card within 3 days of my completed survey. Anyone else got this email? I don’t think I will do the survey though.
Tradesy holding your money so they can make interest off it, I would not be surprised. Many big businesses do that but it should not be a common practice for companies like Tradesy. There are some sellers on Tradesy that had to wait over 60 days to get their funds released.
They’re holding money because they are dying and desperate. The short term interest rate on funds is minuscule and it would not be worth doing that for such a low amount while pissing off so many sellers to the point of leaving.
100% agree. Also why I cut ties. I also refuse to give them a penny anymore as buyer either.
i know right? Lol. That’s why I don’t want to click the link for the survey in case of a scam or getting a virus. It came from an email address of “[email protected]”. I last bought from them in April so they are digging deep for buyers, lol. I was just curious if anyone got this or heard of it. Thx