Thank you so much darling
ur deff right it has to do with their inventory and holiday season. I sold a Tiffany necklace last week and the quote was a lil low and then noticed my item was a lil over double the price on their site
**Buying from Fashionphile** shopping experiences/questions
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ur deff right it has to do with their inventory and holiday season. I sold a Tiffany necklace last week and the quote was a lil low and then noticed my item was a lil over double the price on their site
Absolutely. ❤️❤️Thank you so much darling
They tend to price my items 2-3x higher on their site, but I think they also factor in the lowest possible markdown as well.
I’m really sorry to hear that it’s so discouraging how bad the resale market can be sometimes. It deff makes me think twice now every future purchase I make
Thanks, but it’s ok! When I see the prices that they list my items for I think, “I am so glad that it is you trying to sell it for that price and not me!”. They have the staff to deal with taking nice photos and taking returns, waiting for a year to sell it while storing it etc. I am ok with the trade off.
Do check the time frame of getting a re-quote. I think they will not re-quote if the first quote was given within a certain number of days.
Looks like FP isn't doing so well right now with sales (difficult market/ economy) - they changed their reserve to 10% down payment and no wait time anymore. Reduce hurdles as much as possible.
I saw that, too -- the reserve is now available right away, and lower. That's a mistake by them (again) imo -- it's much easier to cancel a layaway when you just put 10% down as opposed to 30. And the condition of their items is no longer trustworthy, so layaway is a gamble.
I think FP is doing good now and probably doing better than many other consignments, the reason is I noticed they have lots of higher prices new condition in high demand items came in, that usually means they paid sellers higher prices than other consignments.
Regarding the change of reserve policy, I think it's great for right now, I would think there are lots of people buying for holidays, especially some may not have cash buy now for the items they always wanted, it will attract lots of them to basically "buy now".
I am pretty sure they are doing good in buying - I agree. Not so sure how successfully this translates to sales, because the market itself is quite tricky. I think, collectively luxury consignment might be struggling - FP is lucky because they have built a solid reputation over the years - for now, that still stands somewhat. I might be wrong and for them, I hope so. But they never offered a lot of discounts (now they do more frequently - that's usually meant to stimulate inventory turnover) and reviewing their layway policy is a big move to get people to buy, indeed. This is what makes me think they need to stimulate sales - after all, if items are flying off the shelves, why change a policy that makes the company worse off. In any case, just something to chat about
.They are doing very well selling too, especially on some very high profit items and sold very quickly if not right away, such as this week just in this vintage Chanel, used to sold around $500 - $700, it had just listed and sold shortly at $2895 https://www.fashionphile.com/p/chanel-calfskin-quilted-wild-stitch-mini-flap-light-purple-1325659, and this https://www.fashionphile.com/p/hermes-togo-kelly-messenger-black-1322893, sold shortly at nearly $13,000 etc, those profits are unbelievably great especially turn around fast.I am pretty sure they are doing good in buying - I agree. Not so sure how successfully this translates to sales, because the market itself is quite tricky. I think, collectively luxury consignment might be struggling - FP is lucky because they have built a solid reputation over the years - for now, that still stands somewhat. I might be wrong and for them, I hope so. But they never offered a lot of discounts (now they do more frequently - that's usually meant to stimulate inventory turnover) and reviewing their layway policy is a big move to get people to buy, indeed. This is what makes me think they need to stimulate sales - after all, if items are flying off the shelves, why change a policy that makes the company worse off. In any case, just something to chat about
I’m glad they are doing good, that’s also good for us sellers and buyers.
