Have you tried out TheRealReal yet? Maybe you’ve heard of it lately or seen their ads? If you haven’t tried it yet but have a few things you’d like to get rid of at home, you are going to love this service!
The RealReal CEO, Julie Wainwright, built TheRealReal out of her home. The company started small, where Julie was working at her kitchen table and visiting consignor homes with a rented U-Haul. But today, it’s grown substantially and is now one of the most popular sites for online luxury consignment.
TheRealReal has over 600 employees and multiple locations across the United States. They believe in the lifecycle of luxury, being authentic, being sustainable, and being passionate. They accept women’s and men’s fashion, watches, fine jewelry, home decor, art, and kid’s fashion. And their sales process could not be much easier.
I have a friend that recently started working at TheRealReal and she has encouraged me to give it a try. I was a bit skeptical because consignment usually means a lot of logistics issues and hauling stuff around until you find someone to purchase your items. But my friends assured me that it was super easy to consign and she would basically be doing all of the work.
She came over, took pictures of the items I wanted to consign, and then took everything away in TheRealReal bags.
Later that day, I get an email from her with a tracking number for all of my items getting shipped to New York. When the items get to New York, it takes a couple of weeks because everything goes through a thorough inspection. Then they list all of your items online and you just wait for the money to come in.
It probably took about a month for my stuff to be live on their site and then I found that the stuff I sold went pretty quick. Their commission rate is 50% net sales for all items with an original resale price of two hundred or less and all home items. If you want a better commission percentage, you sell higher ticket items. Here is their breakdown:
- 55% — net sales for all items with an original resale of $201-$1,500.
- 60% — net sales for all items with an original resale of $1,501-$9,999
- 70% — net sales for all items with an original resale of $10,000 or more.
I felt the percentage was fair because I felt like TheRealReal did all of the work for me.
The best thing about it is that when your stuff sells, you have the option to have the money be directly deposited into your bank account on the 15th of that month. When your stuff does not sell or they don’t accept it, they actually ship it back to you in very nice packaging and you have to sign for it.
I wanted to share this experience because this was my first time consigning anything. The process was so easy and I will definitely consign to TheRealReal again.
Have you tried out this site or a similar one before? Tell us about your experience below.