I’m a little confused about their payout structure - so there’s the total amount available for withdrawal after 2 weeks. They take a fee off that, then there’s PP 2.9% transfer fee if I use that, not sure if there’s a similar fee for using Swipe. Ugh what’s the least costly way to get money from them, Discover gift card? I just did 6-7 cleanout bags, items that I can’t be arsed to list on my own, so I feel like they already lowball with the valuation, then they skim again during payout...
ThredUp Selling - Luxe
- Thread starter AnnaFreud
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The payout amount they are showing you for your items would already reflect their commission fees. The only other fee you pay is a payment processing fee to use Paypal or Stripe etc., though if you choose to get a Discover giftcard instead they do not charge you any payment processing fee.
Discover is a good choice right? it’s accepted on Square mobile so it should work on the coffee runs etc.
Value of my payout is 110.30 but if I were to cash out, the ThredUp value is 108.09 and then 2% PP is deducted after becomes 105.84 I can’t get the numbers to work out like your explanation.
Value of my payout is 110.30 but if I were to cash out, the ThredUp value is 108.09 and then 2% PP is deducted after becomes 105.84 I can’t get the numbers to work out like your explanation.
The thredup value should be higher because they give you a bonus for converting it to site credit. Right now I have 89.91 available to cash out. ThredUp value is $98.90, discover is even at 89.91, PP would be 88.11 and stripe would be 88.31.
If you get the discover I'm sure you could easily use it for your next grocery shopping trip.
I don’t know if this applies to Luxe but I recently sent in a cleanout bag and there’s a notice on the kit page that payouts are now given after the return period runs out. Once an item sells, it will show as “reserved” until the buyer chooses to keep it and then the seller will be paid out. So essentially three weeks after it sells.
Confirmed it’s for Luxe items also and they claim an email was sent out to all sellers but I have not received anything.
I just sent an email asking if it was for luxe and said i never got notice. I just reclaimed all of my non-final sale items (i.e. anything not handbag/wallet). Getting annoyed with them anyway that they still allow items to be reserved for so long; I had a pair of boots I sent in Jan that were on reserve 24/7 through mid-march, but never bought, and now that it is spring no one will want them until next fall. They also sent me back a reclaim pair of shoes with a bunch of scratches that were not there when i sent them, and claimed they were like that when I sent them in.
I had 2 dresses sell last week and it's taking forever for the balance pending to show them; i presume this is the problem now. If they get returned TU will take forever to get them back on the site and I will have to babysit to reclaim them.
This was the message I sent in:
Has there been a policy change that consignors are no longer getting paid out if an item gets returned and does this apply to luxe items? I see a new note only from randomly looking at my kits online; this was not properly noticed to us.
This is what it says:
"PAYOUT UPDATE
When one of your items is purchased, it will be marked as “Reserved” until the buyer has decided to keep and not return your item. Once your item is kept, you will be paid out! If a buyer does return your item, your consignment window will be extended so that your item has the same amount of time to sell."
I had 2 SP dresses sell this week and notice the funds are taking longer to hit my pending balance, I presume this is the issue. If I had known I would have pulled my dresses as this is removing one of the main competitive advantages TU offered sellers as opposed to other sites. ThredUp needs to do what its needs to do from a business perspective but I would have appreciated advance notice. Now I am going to have to babysit to see if those dresses come back and then pull them. I don't play the buy and return game with my items, they are all either coveted styles, hard to find or NWT yet discounted very significantly below retail; all my sales on ebay and poshmark are final sale and I still do well. I make about even sales on tradesy as well but they accept returns on behalf of the seller and you still get paid out as long as your listing description was accurate.
Has there been a policy change that consignors are no longer getting paid out if an item gets returned and does this apply to luxe items? I see a new note only from randomly looking at my kits online; this was not properly noticed to us.
This is what it says:
"PAYOUT UPDATE
When one of your items is purchased, it will be marked as “Reserved” until the buyer has decided to keep and not return your item. Once your item is kept, you will be paid out! If a buyer does return your item, your consignment window will be extended so that your item has the same amount of time to sell."
I had 2 SP dresses sell this week and notice the funds are taking longer to hit my pending balance, I presume this is the issue. If I had known I would have pulled my dresses as this is removing one of the main competitive advantages TU offered sellers as opposed to other sites. ThredUp needs to do what its needs to do from a business perspective but I would have appreciated advance notice. Now I am going to have to babysit to see if those dresses come back and then pull them. I don't play the buy and return game with my items, they are all either coveted styles, hard to find or NWT yet discounted very significantly below retail; all my sales on ebay and poshmark are final sale and I still do well. I make about even sales on tradesy as well but they accept returns on behalf of the seller and you still get paid out as long as your listing description was accurate.
I'd been planning on sending a box of things in to Luxe, but now I think I'll just list them elsewhere. I was pretty disillusioned after my last experience but thought to give them another go, but now I don't see any reason to use them especially if you have to wait through a return period.
I was overall happy with the payouts that I received with Luxe. With their new policy I don’t plan to send them anymore items though.
Claire confirmed that they changed the policy because it was no longer sustainable for them to absorb the cost of returns. However final sale items like handbags and wallets will still get paid out as before.
I figured that several of their policies were not sustainable and wouldn't last. I presume the returns issue got more urgent when they started letting everyone decide for all of their items to put them on consignment or take an upfront payout. Probably many more returned items they still had to payout at the higher consignment price.
Maybe if they got rid of their reserve system returns would get re-sold faster! Honestly things have been pretty slow on TU the past few months anyway, and I am still annoyed with the reserve system, so I was scaling back sending them things. I reclaimed the last of my returnable items except for the 2 dresses that sold last week of course--will have to see if they get returned or not. Could take up to 5 weeks with the 2 week return period plus the slow as snails smartpost return labels.
I had that happen once and it turned out the item got lost in the warehouse. They paid me for it though. I'm sure it could mean something else too. I would check with CS.
When that’s happened to me recently it’s been because it was in someone’s GoodyBox. It’s unavailable to other buyers and if they keep the item, it’s marked sold and you get paid out on it. If they decline the item, it’s sent back to thredUP and made available again.