Whether you are a new or experienced seller, the luxury resale market is where you should be focused on if you are looking for a sustainable route to making huge profits!<\/p>\n\n\n\n
The market value<\/a> of luxury resale currently sits at $39 billion<\/strong>, although it is expected to reach $52 billion by 2026. In fact, a 2023 Luxury Resale Report<\/a> found that luxury resale is growing 4x faster than overall luxury<\/strong>.<\/p>\n\n\n\n The key drivers<\/a> for the growing preference for pre-loved luxury goods were found to be price, authenticity and sustainability. <\/p>\n\n\n\n This is all great news for sellers who are looking for a new side-hustle or even full-time income from reselling luxury items. Not only will you enter a highly profitable industry, but you will also promote circular, sustainable fashion and be part of something bigger!<\/p>\n\n\n\n Before going into detail about becoming a successful reseller, it is important to discover where to sell luxury items in the first place.<\/p>\n\n\n\n In this article, we have gathered the top 4 marketplaces to sell luxury goods<\/strong>:<\/p>\n\n\n\n <\/p>\n\n\n\n Founded in the US in 2011, The RealReal<\/a> has over 30 million members<\/strong> and 28 million sold items. <\/strong><\/p>\n\n\n\n This is the world\u2019s largest e-commerce<\/strong> platform for authenticated resale luxury items. <\/p>\n\n\n\n While their products range from homeware and art, the most popular categories are women\u2019s and men\u2019s luxury apparel and accessories<\/strong>; including watches, jewellery, and handbags. <\/p>\n\n\n\n In The RealReal 2023 Luxury Consignment<\/a>, it was revealed that Prada<\/strong> and Simone Rocha<\/strong> were the most loved brands of 2022. Overall, there was a huge demand for vintage Y2K fashion<\/strong>, which has been continuously growing in 2023. <\/p>\n\n\n\n This can be attributed to the increase of Gen Z users, as the RealReal saw a dramatic rise in 2022. However, millennials remain the majority of sellers and buyers. <\/p>\n\n\n\n Being aware of the demographics of users is necessary<\/strong> for any reseller; not just to know what is going to sell more successfully, but to also predict popular fashion trends that may influence generational buyers on the app. This will allow you to source accordingly. <\/p>\n\n\n\n If you are planning on becoming a seller on this site, it is important to know that the marketplace does not accept items that are not designer.<\/strong><\/p>\n\n\n\n Furthermore, the sellers cannot control the price of their listings<\/a>. Instead, the platform does this for you depending on multiple factors such as the item\u2019s condition, demand, and market trends. <\/p>\n\n\n\n This is why it is important to understand who your customers are!<\/p>\n\n\n\n Once you have signed up on the platform, you need to send your products to The RealReal distribution centre, where they will be inspected, authenticated, and listed on the site. When a sale is made, a payment will be made to your preferred payment method.<\/p>\n\n\n\n Sellers are paid between 20% and 85%<\/strong> of the set price per item. The precise percentage changes based on the brand and condition.<\/p>\n\n\n\n In addition to this commission, a 5% processing fee<\/strong> is added each time a payment is made to you.<\/p>\n\n\n\n To learn more about the way listings are priced at The RealReal, have a look here<\/a>.<\/p>\n\n\n\n If you are still wondering where to sell luxury items, The RealReal\u2019s thorough authentication service may persuade you to sign up with them immediately!<\/p>\n\n\n\n The process is long and rigorous; making this marketplace a great choice for those who are looking to avoid common e-commerce scams.<\/p>\n\n\n\n Some key parts of the process include:<\/a><\/p>\n\n\n\n Founded in the US in 2011, Poshmark<\/a> has 8 million sellers<\/strong> and 7.8 million active buyers<\/strong>.<\/p>\n\n\n\n This popular marketplace is ideal for those wondering where to sell luxury items. While not strictly a platform for designer items, Poshmark is known for its luxury and limited-edition product listings<\/strong>. In fact, it is these categories that are the most profitable.<\/p>\n\n\n\n Due to its user-friendly interface<\/strong>, Poshmark is a great choice for new resellers. Just like most social media apps, this platform is set up so you can like, comment, and follow other Poshers.<\/p>\n\n\n\n Once you are signed up, all you need to do is create your virtual closet<\/strong> by adding all your product listings- including detailed descriptions, clear images, and other relevant information.<\/p>\n\n\n\n Top selling brands<\/strong> include Patagonia, Nike, Lululemon, The North Face, Coach and Gucci. <\/p>\n\n\n\n A Poshmark Bot<\/a> can be a worthwhile investment<\/strong> when becoming a Posher! This is automation software that continuously shares your closet, relists\/delists your products to always remain at the top of the search results and grows your followers with just one click. <\/p>\n\n\n\n As you probably know by now, becoming a successful reseller is a lot of hard work. This is why taking advantage of automation software can be the difference between having a small side gig to making serious profits!<\/p>\n\n\n\n Try the best Poshmark Bot on the market for FREE.<\/a><\/p>\n\n\n\n Unlike The RealReal, Poshmark allows you to set up your own prices. This is all great news, as you can keep most of the value once an item is sold.<\/p>\n\n\n\n While creating your virtual closet is free, you will encounter the following fees<\/a>:<\/p>\n\n\n\n Find out more: Poshmark Fees- The Definitive Guide<\/em><\/a><\/p>\n\n\n\n Also known as Posh Authenticate<\/strong>, Poshmark offers this premium service for luxury items worth over $500. <\/strong><\/p>\n\n\n\n As long as the item is over the set threshold, no fees are incurred for the authentication process. Frequent promotions on the service also include free shipping.<\/p>\n\n\n\n Once a buyer has requested for their item to be authenticated, it will be sent straight to Poshmark\u2019s HeadQuarters, where a team of luxury reviewers will either verify the product\u2019s authenticity or deem it as counterfeit. <\/p>\n\n\n\n Buyers are eligible for a full refund if an item is unable to be verified.<\/strong> This is why it is necessary for sellers to have clear images of the product before it is shipped, along with tags, receipts and any other documents that can prove its legitimacy.<\/p>\n\n\n\n Although this service appears to favour Poshmark buyers, it is particularly useful for sellers as well. Acquiring proof of authenticity through Posh Authenticate will not only prove the quality of your listings but will also establish credibility and trust between your shop and customers. <\/p>\n\n\n\n Furthermore, it acts as a barrier between you and potential scammers who may make false claims about the quality of your items.<\/p>\n\n\n\n Find out more: Common Poshmark Scams and How to Avoid Them<\/em><\/a><\/p>\n\n\n\n Founded in the US in 2013, Grailed has over 10 million users<\/strong>.<\/p>\n\n\n\n This marketplace is a hotspot for high quality streetwear, designer and limited-edition items<\/strong> for men and women. <\/p>\n\n\n\n Unlike Poshmark, Grailed is limited to fashion categories such as apparel, shoes, and accessories. Therefore, if you are looking to sell art and homeware, this might not be the right place for you. <\/p>\n\n\n\n The top-selling brands of 2023<\/strong> included Uniqlo, Tommy Hilfiger, Saint Laurent, and Gucci. <\/p>\n\n\n\n While the app is not strictly for luxury brands, it is known to be one of the most extensive marketplaces for high-end, designer fashion. Thus, it is worth giving the platform a chance if you have been wondering where to sell luxury items. <\/p>\n\n\n\n Selling on Grailed is a super easy process. All you have to do is sign up, set up your profile to stand out from other buyers and upload your listings. <\/p>\n\n\n\n Part of the process also includes choosing the right market for your products<\/strong>. The four options<\/a> are: Grails<\/strong> (high value), Hype <\/strong>(high demand), Sartorial<\/strong> (Classics) and Core<\/strong> (mainstream). Choosing the right market for your listings will ensure that your shop is being shown to the relevant customer base, increasing your chances of becoming a top seller. <\/p>\n\n\n\n Find out more: How to Sell on Grailed<\/em><\/a><\/p>\n\n\n\n The only fee Grailed charges its sellers is a 9% commission fee<\/strong> each time a sale is made. <\/p>\n\n\n\n Depending on the payment processor your buyers choose, you may have to pay an extra fee. For instance, PayPal can charge 2.9% + $0.30 for domestic customers, and 4.4% + $0.30 for international.<\/p>\n\n\n\n You can calculate your fees here<\/a> by using our free Grailed Fees Calculator<\/strong>.<\/p>\n\n\n\n This large marketplace prevents fraudulent behavior by offering a thorough approach to product authentication. <\/p>\n\n\n\n All items that are labelled as high-risk must be reviewed<\/strong> either by in-house or machine moderators before they go live on sellers\u2019 profiles. This can be seen by an authenticated verifier<\/a> on the listing page. <\/p>\n\n\n\n On the other hand, if an item fails to be verified during the review process, the listing will be permanently removed, and the seller may even face permanent suspension!<\/p>\n\n\n\n Grailed\u2019s team of experts<\/a> determine whether an item is legitimate by assessing tags, logos, embroidery, and other characteristics that may be a telling sign of a counterfeit product.<\/p>\n\n\n\n Just as with any luxury marketplace, verified listings are a great way to build your shop\u2019s integrity and attract more customers. <\/p>\n\n\n\n Founded in the US in 2015, StockX<\/a> has over 34.2 million active users<\/strong>. <\/p>\n\n\n\n This multi-billion-dollar resale platform<\/strong> is a haven for limited-edition sneakers; perfect for self-proclaimed sneakerheads!<\/p>\n\n\n\n Although apparel and watches can also be listed, StockX is primarily known to be a sneaker resale marketplace. <\/strong><\/p>\n\n\n\n Unlike most luxury e-commerce platforms, both sellers and buyers remain anonymous<\/strong>– this means that there is no need to spend too much time on building your profile. <\/p>\n\n\n\n Similar to eBay, a bid-based model is in place to ensure sellers and buyers alike get the best deals for the value of the listings. When a customer places a matching bid, the item will be automatically sold to them. It\u2019s all very simple!<\/p>\n\n\n\n Find out more: Here\u2019s How to Become a Sneaker Reseller<\/em><\/a><\/p>\n\n\n\n StockX fees vary depending on your Seller Level. There are 5 levels to this program and the higher you are positioned, the lower the transaction fees will be.<\/p>\n\n\n\n However, it is important to note that there is a standard additional payment processing fee of 3% on all sales. <\/p>\n\n\n\n The Seller Level transaction fees<\/strong> vary as follows:<\/p>\n\n\n\nThe RealReal<\/strong><\/a><\/h2>\n\n\n\n
Summary<\/strong><\/h3>\n\n\n\nFees<\/strong><\/h3>\n\n\n\n
Authentication Services<\/strong><\/h3>\n\n\n\n
Poshmark<\/strong><\/a><\/h2>\n\n\n\n
Summary<\/strong><\/h3>\n\n\n\n
Fees<\/strong><\/h3>\n\n\n\n
Authentication Services<\/strong><\/h3>\n\n\n\n
Grailed<\/strong><\/a><\/h2>\n\n\n\n
Summary<\/strong><\/h3>\n\n\n\n
Fees<\/strong><\/h3>\n\n\n\n
Authentication Services<\/strong><\/h3>\n\n\n\n
StockX<\/strong><\/a><\/h2>\n\n\n\n
Summary<\/strong><\/h3>\n\n\n\n
Fees<\/strong><\/h3>\n\n\n\n