Tradesy marketplace for fashion, “built by and for women.” Tradesy is a place to buy and sell clothing, bags, shoes, accessories, vintage, and wedding items. As of February 2021, Tradesy reports having approximately seven million members.
Tradesy is known as an upscale luxury marketplace, with a chic and curated aesthetic. There are thousands of designers and brands featured on Tradesy. While you will notice many inexpensive brands are allowed, the steep selling fees make Tradesy an ideal place to sell higher-end inventory.
Last month (August 2021), the best-selling brands on Tradesy were Louis Vuitton, Chanel, Gucci, Tory Burch, Lululemon, Free People, Christian Louboutin, and Michael Kors.
Creating a Tradesy account takes only seconds, and Tradesy has a desktop website as well as a mobile application. Tradesy is also compatible with Vendoo, so you can cross-list your existing inventory quickly.
1. Listing an Item for Sale
On Tradesy, you can list an unlimited number of items, and there are not any listing fees! The listing process is very similar to other reselling platforms, requiring at least three images of your item and a written description. Other required fields include the brand or designer, condition, size, exact dimensions (bags and heeled shoes), style, and color. Optional fields include retail cost, material, and style name. On Tradesy (as in everywhere), be sure to photograph your item as if you do not have a description, and describe your items as if they are not accompanied with photographs. For search engine optimization (SEO) purposes, the more detail the better. Find a step-by-step guide to listing on Tradesy here.
Tradesy Tip: Tradesy automatically cleans your images, applying a plain white background to your cover photographs for a clean and chic aesthetic. Start with a clean, clear image with a light background to optimize the result of the automatic photo enhancement.
2. Pricing Your Items
Pricing your item for sale is a similar process to selling on other marketplaces. If you are unsure about a price, it is recommended that you check out comparable “comps” on Tradesy. To check comps, do a search on Tradesy, and review what similar items are selling for (and also what they have sold for). Tradesy offers a suggested selling price based upon the details you provide in your listing. You do not need to observe the suggested price, but it is intended as a tool.
Tradesy Tip: Tradesy is relatively strict regarding prices and will remove listings if the original retail price is significantly higher than the MSRP, or if you price your item significantly higher than its current “market value.” Learn more here.
3. Tradesy Fees
Tradesy fees are a little complex to calculate, and they are among the highest of fees associated with the fashion reselling platforms. This is likely to accomplish a more upscale and designer aesthetic. As a rough estimate when sourcing, consider the Tradesy fee to be approximately twenty-two percent.
There are many factors to consider in calculating your potential earnings. First, the Tradesy fee of 19.8 percent on items that sell for $50.00 or more and a $7.50 flat rate on items sold under $50.00. Further, earnings are calculated differently depending on your shipping method and whether or not a Tradesy sale or promotion was applied to your item. Your items will not be included in Tradesy sales or promotions unless you opt-in and your item sells as a result of the sale or promotion. Many Tradesy sellers opt-in to all sales and promotions to maximize exposure on the platform. You will be presented with your potential earnings before publishing your listing, and upon opting into a sale or promotional event.
An additional 2.9 percent safe transfer fee is deducted from your earnings if you transfer your funds from your Tradesy account into your Paypal or bank account. However, if you choose to use your funds as cash and make a purchase on Tradesy, no further fees apply (slick, right?) Getting paid on Tradesy takes… a long time. While they say they may hold your funds for “up to seven days to ensure the security of every transaction,” it often takes longer than that, in my experience.
4. Shipping on Tradesy
When listing an item on Tradesy, you select one of three shipping methods: receive a shipping kit (polybag or box, tissue paper, and label) in the mail, print a prepaid label directly from your Tradesy account, or handle shipping on your own. You can ship with USPS, FexEx, or UPS. The cost associated with your selected shipping method is applied to the price of your item, paid by the buyer. Find more information about shipping on Tradesy here.
It is important to note that when you make a sale on Tradesy, you have four days to confirm the sale, confirming that you still have the item in the condition that you described. You must confirm the sale or the order will be automatically canceled.
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5. Tradesy Tips and Tricks.
There is no offer feature on Tradesy, but you will occasionally receive a request via message for a reduced price. More often, however, buyers pay the asking price and purchase instantly. Unlike other platforms, haggling is not a commonality in the Tradesy culture.
Be entirely honest and transparent in your listings, especially relative to the condition of an item. In the event of a return, your buyer sends the item directly to Tradesy for analysis. As such, it is uncommon for Tradesy to “side with” the seller in the event of a dispute.
Search Engine Optimization is important on Tradesy, as in all reselling platforms. The search engine on Tradesy yields results based on both an item’s title and description.
Tradesy Tip: Flooding in emails? Tradesy offers text message alerts so that you never miss a notification!
In all, Tradesy is a great place to buy and sell higher-end items. Personally, I only cross-list items to Tradesy that I believe will sell for at least fifty dollars. Sign up here and receive $20 off your first purchase.
Do you sell on Tradesy? Feel free to comment with some of your best tips and tricks below!