Consigning/buying with The Real Real TRR

[renee_nyc]

Do you have credit card receipts? Nothing at all? Online email order confirmations? If you bought your items from a department store, you might be able to go back and search through old orders too and take screen shots of the details.

Starting in 2022, if you think you'll go over the $600 reporting threshold, I'd start keeping a spreadsheet. List the item and all pertinent information that you can recall, to the best of your knowledge. The date you bought the item, the cost, where you bought it, where you sold it and for how much, basically as much information as you can recall. Even if you have no receipts, the price of certain items is well known so if you are selling a classic m/l Chanel flap that you bought new in 2017, it is pretty easy to prove that the cost in 2017 was $4,700 + sales tax in most cases. Then you can provide this spreadsheet to your accountant at the end of the year.

Thank you. I might have some receipts, but a lot of what I sell on TRR tends to be clothing, as I have managed to get my bag collection pretty pared down. Some of the dresses that I sell are at least three or four years old, so I don’t have the receipts anymore. I highly doubt any of it would sell for more than $600, but it would definitely add up to be more than that. I just sent them 41 items about a month and a half ago.

That being said, I do have a few contemporary bags that I need to offload, so maybe I will do that now.

 

[Gennas]

Perhaps this could be why The Real Real has been struggling with commission payments and withholding items to clients and not making refunds
Shareholders of online luxury-goods marketplace The RealReal have filed a class action lawsuit alleging that members of the company's executive team, board of directors, and underwriting banks lied to shareholders, artificially inflating share prices. Why am I not surprised to hear this. Shady CEO and BOD's!!!!

 

[Efenig91]

In the last month, I’ve purchased 2 items from TRR-Burberry Buckleigh packable tote and a Prada jacket. The Burberry item was as described in the description. Same with the Prada jacket… however… I noticed a rip in the pocket. Fortunately, it’s not at the bottom of the pocket but it is at the top by the opening. This was not listed in the description. The description only described minor pilling on the wool lining. Part of me wants to reach out and just let them know then part of me wants to suck it up and maybe find a tailor who can fix it? What do y’all think I should do?

 

[skyqueen]

I bought a STAND faux fur black full length coat with tie. I tried to find it online, new, but it was always sold out in my size. By chance I found it on TRR's website...brand new/tags, in my size. I felt it was "a sign" so I bought it. Extra 15% off! Almost half off for a current year item. The coat arrived...perfect with tags. Pleased as punch!

 

[muchstuff]

In the last month, I’ve purchased 2 items from TRR-Burberry Buckleigh packable tote and a Prada jacket. The Burberry item was as described in the description. Same with the Prada jacket… however… I noticed a rip in the pocket. Fortunately, it’s not at the bottom of the pocket but it is at the top by the opening. This was not listed in the description. The description only described minor pilling on the wool lining. Part of me wants to reach out and just let them know then part of me wants to suck it up and maybe find a tailor who can fix it? What do y’all think I should do?

Let them know. If you want to keep it tell them you want a partial refund. Or that it’s SNAD and you want to return it. They’ve done both for me in the past.

 

[Efenig91]

Let them know. If you want to keep it tell them you want a partial refund. Or that it’s SNAD and you want to return it. They’ve done both for me in the past.

I followed your advice. I was able to get what they refer to as a “compensation” for $25 to use on their site. Not very much but it’s better than the outcome I was expecting.

 

[muchstuff]

I followed your advice. I was able to get what they refer to as a “compensation” for $25 to use on their site. Not very much but it’s better than the outcome I was expecting.

Yeah that's pretty cheap of them. I always call and talk directly to someone although I don't know how much difference that would make.

 

[atlantis1982]

I followed your advice. I was able to get what they refer to as a “compensation” for $25 to use on their site. Not very much but it’s better than the outcome I was expecting.

So basically it's like they've given you free (upgraded) shipping, but only if you buy something else from them. I'd want that $25 applied to the item they neglected to examine thoroughly!

 

[CPG]

I sent a bunch of items to TRR beginning of December. All excellent to new condition, all seasonally appropriate. A month later, and they still have only processed a handful of items and put them on the site. One item, a pair of designer shoes for which I paid nearly $700 and which were in near perfect condition, they put up for $50. Before I could tell them, are you KIDDING ME? and have them take them down, they sold. Because their commission rates are now 30% for anything under $100, I made a cool $15 off the deal. I would have kept them if I'd known that. No, I didn't expect to make hundreds, but $15?

The new commission rates (likely due to the ridiculous new regulations requiring them to issue a 1099 for sales totaling over $600) coupled with 3–4 weeks to get anything up on the site, means this is likely my last commission with them. I'll still purchase, but I won't sell. As much of a hassle as Poshmark and eBay can be, at least I can get seasonal items up in a timely manner and control what I will and will not sell for. Or, hell, just donate it and get the tax credit. All the fun has gone out of second hand and consignment shopping/selling.

 

[Nessa60]

I thought I was the only one who noticed a huge drop in pricing with TRR. I also sent a 5 items in December… brand new and so far made a cool 12 dollars on jeans with tags. I also remember them listing one of my essentially new Nina Ricci bags for 250.. and told them to return it to me before it was too late. I used to sell a ton of stuff on all sites.. but the 1099 requirement is a turn off. I also will continue with selling through Mercari and Poshmark until everything is gone. The joy of second hand selling is essentially gone.
Thanks for this post.. I agree 1000 percent with what you have said.

I sent a bunch of items to TRR beginning of December. All excellent to new condition, all seasonally appropriate. A month later, and they still have only processed a handful of items and put them on the site. One item, a pair of designer shoes for which I paid nearly $700 and which were in near perfect condition, they put up for $50. Before I could tell them, are you KIDDING ME? and have them take them down, they sold. Because their commission rates are now 30% for anything under $100, I made a cool $15 off the deal. I would have kept them if I'd known that. No, I didn't expect to make hundreds, but $15?

The new commission rates (likely due to the ridiculous new regulations requiring them to issue a 1099 for sales totaling over $600) coupled with 3–4 weeks to get anything up on the site, means this is likely my last commission with them. I'll still purchase, but I won't sell. As much of a hassle as Poshmark and eBay can be, at least I can get seasonal items up in a timely manner and control what I will and will not sell for. Or, hell, just donate it and get the tax credit. All the fun has gone out of second hand and consignment shopping/selling.

 

[Nomad]

I sent a bunch of items to TRR beginning of December. All excellent to new condition, all seasonally appropriate. A month later, and they still have only processed a handful of items and put them on the site. One item, a pair of designer shoes for which I paid nearly $700 and which were in near perfect condition, they put up for $50. Before I could tell them, are you KIDDING ME? and have them take them down, they sold. Because their commission rates are now 30% for anything under $100, I made a cool $15 off the deal. I would have kept them if I'd known that. No, I didn't expect to make hundreds, but $15?

The new commission rates (likely due to the ridiculous new regulations requiring them to issue a 1099 for sales totaling over $600) coupled with 3–4 weeks to get anything up on the site, means this is likely my last commission with them. I'll still purchase, but I won't sell. As much of a hassle as Poshmark and eBay can be, at least I can get seasonal items up in a timely manner and control what I will and will not sell for. Or, hell, just donate it and get the tax credit. All the fun has gone out of second hand and consignment shopping/selling.

Wow thanks for the information. I will say that one time I bought an item that was WAY undervalued and all of a sudden it was canceled. I am 100% positive the owner caught the mistake and made TRR cancel the sale. As an fyi for you with your shoes.

 

[Catash]

I sent a bunch of items to TRR beginning of December. All excellent to new condition, all seasonally appropriate. A month later, and they still have only processed a handful of items and put them on the site. One item, a pair of designer shoes for which I paid nearly $700 and which were in near perfect condition, they put up for $50. Before I could tell them, are you KIDDING ME? and have them take them down, they sold. Because their commission rates are now 30% for anything under $100, I made a cool $15 off the deal. I would have kept them if I'd known that. No, I didn't expect to make hundreds, but $15?

The new commission rates (likely due to the ridiculous new regulations requiring them to issue a 1099 for sales totaling over $600) coupled with 3–4 weeks to get anything up on the site, means this is likely my last commission with them. I'll still purchase, but I won't sell. As much of a hassle as Poshmark and eBay can be, at least I can get seasonal items up in a timely manner and control what I will and will not sell for. Or, hell, just donate it and get the tax credit. All the fun has gone out of second hand and consignment shopping/selling.

Will they issue 1099 per sale over $600 or by the end of the year for a total sale over $600?

 

[CPG]

Will they issue 1099 per sale over $600 or by the end of the year for a total sale over $600?

I believe end of the year, total of over $600. It's such B.S. Used to be, no one blinked an eye with second hand hobby sellers unless you sold over $20,000.

 

[CPG]

Wow thanks for the information. I will say that one time I bought an item that was WAY undervalued and all of a sudden it was canceled. I am 100% positive the owner caught the mistake and made TRR cancel the sale. As an fyi for you with your shoes.

I hadn't thought of that. I'll see what I can do! Thanks!

 

[CPG]

I thought I was the only one who noticed a huge drop in pricing with TRR. I also sent a 5 items in December… brand new and so far made a cool 12 dollars on jeans with tags. I also remember them listing one of my essentially new Nina Ricci bags for 250.. and told them to return it to me before it was too late. I used to sell a ton of stuff on all sites.. but the 1099 requirement is a turn off. I also will continue with selling through Mercari and Poshmark until everything is gone. The joy of second hand selling is essentially gone.
Thanks for this post.. I agree 1000 percent with what you have said.

Irony is that the next "crisis" coming down the line is the climate crisis. Okay, government, here we are, doing our best to buy and sell second hand and not buy new, but now you want to punish everyone involved for doing so? What a joke.