My whole Poshmark seller experience has been an education. I just spotted a D&B bag I sold for $75.00 and they buyer has it listed for $315.00. That is fine with me. It's the second time this has happened this week, but it makes me wonder why some of these sellers didn't buy more from me. I closed up shop and gave stuff away.
Profit Is Not A Dirty Word...but I have to laugh!
- Thread starter G.Allyn
- Start date
I just feel badly for the next buyer who is overpaying. And also annoyed (for you) that you
didn't get a bigger share of the profits. I wonder what the final selling price will be.
I think I'd just want to forget about it and no torture myself any more.
D
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I’ve seen some even use the same pictures in my posting when they relist the item. It’s funny to me. I am much more firm when I sell any bags now LOL
I have a few friends who resell, and the mindset is so different from those of us who sell here and there to clear out our closets. It's much harder work than it looks.
Resellers typically have dedicated storage and don't mind keeping an item listed for a year or more to wait for a collector who is willing to pay a premium. I personally typically get bored after a few weeks and donate the stuff. They also put time into researching comparable sales, taking great photos, and writing descriptions.
I know the math seems like the seller would be making a huge profit, but it's not so much when you break it down.
Buying the bag for $75 probably meant about $90 out of pocket.
If she sells the bag for $300, she'll pay $90 in fees.
She also needs to factor in some operating costs of her business, packing supplies, etc, so let's say that's another $10.
300-90-90-10= $110
The $110 will be taxable, and she will have tied up space and capital while she waited for a buyer.
So, the answer to your question about why these resellers didn't buy your other items is probably that their numbers make no sense unless they're confident that your price is about 1/4 of what they believe they can resell your item for.
Resellers typically have dedicated storage and don't mind keeping an item listed for a year or more to wait for a collector who is willing to pay a premium. I personally typically get bored after a few weeks and donate the stuff. They also put time into researching comparable sales, taking great photos, and writing descriptions.
I know the math seems like the seller would be making a huge profit, but it's not so much when you break it down.
Buying the bag for $75 probably meant about $90 out of pocket.
If she sells the bag for $300, she'll pay $90 in fees.
She also needs to factor in some operating costs of her business, packing supplies, etc, so let's say that's another $10.
300-90-90-10= $110
The $110 will be taxable, and she will have tied up space and capital while she waited for a buyer.
So, the answer to your question about why these resellers didn't buy your other items is probably that their numbers make no sense unless they're confident that your price is about 1/4 of what they believe they can resell your item for.
Interesting. Thanks. It's helpful to have a broader perspective on the situation.
And I hadn't considered how high the fees were.
I'm fine with someone buying my items and selling at a higher price. I gave most of my things away and only tried to sell a few. I give these sellers a good deal of credit. It takes quite a bit of work and research to make the hours profitable. My issue was hoping more of my items appealed to sellers and they had purchased more from my closet. It is kind of funny to see your old items up for sale. I thought individual buyers would purchase looking for a good deal. Clearly, I do not have a good handle on the eBay or Posh scene.
Thank you for your perspective.