CONSIGNMENT PRICING & PAYOUT UPDATES
Beginning with bags received after December 31st, we are making some changes to how we pay users of our cleanout service. For most of you, the total effect on your earnings will be minimal but in aggregate this will allow us to continue to dramatically improve the speed, quality and selection on thredUP and to offer a best-in-class convenient service.
We appreciate your understanding as we learn and identify the best ways to build a thriving, healthy business that will employ thousands of people in the next couple years. We are more committed than ever to delivering a great buying and selling experience for many years to come.
Here are the highlights of the changes going into effect for bags received after December 31st, 2014:
- Items listed under $60: These will now be paid upfront at up to 40%. No more waiting for your less expensive items to sell on consignment. When we process your bag, your payout is immediately available to spend on thredUP, or you can cash out with PayPal in 14 days.
- Items resold under $10 will only be accepted on a case-by-case basis (a good rule of thumb is that these are items with a non-discounted retail price under $25) While we will try and resell as many of these items as possible (and we really would like to sell as many as possible!!!), we cannot guarantee the acceptance of any item priced under $10. This is especially true if the item is out of season (cotton tank tops in December or wool sweaters in August are obvious examples). Of course, for any item we do accept you will earn a 10% payout and any item we can’t accept we will ensure is recycled appropriately.
- The updated payout schedule is as follows:
|Our Initial Listing Price||You Earn||Method|
|<$9.99||10%||Upfront when available, we cannot guarantee it|
|$10:00 – $14.99||15%||Upfront|
|$15.00 – $19.99||25%||Upfront|
|$20.00 – $59.99||40%||Upfront|
|$60.00 – $89.99||50%||Consignment|
|$90.00 – $149.99||60%||Consignment|
|$150.00 – $299.99||70%||Consignment|
|$300 and up||80%||Consignment|
For our most up-to-date pricing, please check our calculator here. Of course, you always have the option to choose Return Assurance to have your expensive, designer items returned to you if we cannot accept them for resale.
As a reminder, for consignment payouts we will list your item for 84 days on consignment. You may choose to modify the listing price if you’d like (in the first 7 days) and if you are not satisfied with our attempts to sell the item (after 7 days), you may “reclaim” the item from our shop and just pay shipping & handling to have the item returned. If your item has not sold on thredUP in an appropriate amount of time, we will do our best to try and sell it on other outlets (at no cost and no additional work to you) like ebay. When your item sells, the credit will become spendable and cashoutable after 14 days. All of your earnings will be cashoutable via Paypal.
Some of the brands that are likely to subject to the $10 cutoff:
- Old Navy
- Forever 21
Some of the brands that are likely to be on consignment include:
- Alexander Wang
- Alice + Olivia
- Clare Vivier
- Elizabeth and James
- Helmut Lang
- Rag and Bone
- See by Chloe
- Tory Burch
- 1 Phillip Lim
- Foley + Corinna
- Marc by Marc Jacobs
- MICHAEL Michael Kors