Time for a wardrobe cull? Here’s the best online resale platforms to maximise your profits
Image via Touchstone Pictures
words by fashion journal
Cull and cash in.
It’s natural for the start of a new season to inspire a style refresh. It’s also a good time to take stock of your wardrobe and really think about what you wear and what needs to go.
As colder temperatures kick in, I find it helpful to store away any mini dresses and halter tops until next summer, leaving only weather-appropriate options on my rack.
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Yes, there’s a long wishlist of pieces I’d love to invest in this winter, so to avoid overspending, I’ve decided to embrace a circular wardrobe. The idea is to focus on reselling the clothes, shoes, bags and accessories I no longer loved, wore or fit. I could then buy new pieces using only the money I had made from selling. Clothes out, clothes in – no money spent.
From consignment stores to apps like Depop, there’s a plethora of options when it comes to fashion resale, each with its own pros and cons. Let’s take a look below.
Depop
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What is it?
Founded in 2011, Depop is an app dedicated to buying and selling secondhand clothing, shoes and accessories, with more than 56 million registered users around the world.
Pros
Once you’ve created a (free) account, listing your secondhand clothing is quick and easy. It’s AI-powered, so it helps fill in information about the pieces you’re trying to sell and then again, uses AI to help find buyers. There aren’t any listing fees, so if you’ve done a big wardrobe haul, then you can list everything in one go without having to fork out money upfront.
As a seller, you can save your searches for future reference and find a folder of all your liked items. You can make offers and message sellers directly, so you can ask any additional questions and stay up to date on tracking.
Cons
Because so many people use Depop, it’s not quite the kind of app you use for in-person deliveries and pickups, which means you’ll need to take shipping costs into account.
As a seller, your earnings are paid into your Depop balance, which is transferred into your bank account (this can take up to five days to show). You also won’t be paid until your item has been delivered to the seller.
In Australia, there’s a payment processing fee charged on the item’s sale price, plus tax for Depop payments. This works out to be around 2.6 per cent, plus $0.3 AUD. If you sell via PayPal, proceeds are sent to your account. The selling fee and PayPal’s processing fee are deducted as separate charges.
Vestiaire
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What is it?
Vestiaire Collective is an online resale platform, first founded in Paris in 2009. It specialises in pre-loved, luxury designer pieces and has made the move to ban fast fashion from its sites permanently.
Pros
Part of Vestiaire’s appeal is its commitment to pre-loved authenticity, giving you greater peace of mind that the designer pieces you’re buying are real. The platform has over 150 experts in digital and physical authentication, with hubs across the US, UK, France, Singapore and Hong Kong.
Selling itself is also fairly straightforward and as a buyer, there are thousands of new items listed daily. There are other benefits, too, like guaranteed delivery and free relisting if you change your mind about an item within 72 hours of delivery (meaning you don’t need to pay a seller’s fee). Every listing receives online inspection but in the case it’s physically inspected and makes a pitstop before reaching you, you won’t need to pay extra.
Cons
Vestiaire’s fees come in different tiers depending on your item’s price. For pieces priced up to $125, there’s a flat $15 selling fee and a $3 processing fee. For items between $125 and $25,000, the selling fee is 12 per cent and the processing fee is three per cent. This jumps again if your sale is worth more than $25,000, in which case the selling fee is $3,000 and the processing fee is three per cent.
There’s also a buyer’s fee, which ranges from 15 to 28 per cent of the item’s price and includes various taxes.
Marketplace
What is it?
Facebook Marketplace is perhaps the most casual online resale platform. Part of Meta, it’s a goldmine for homewares, furniture, clothing, cars and even rentals.
Pros
All listings on Marketplace are free and buyers can select a radius depending on how far they’re willing to travel. You can save listings for future reference and make offers to sellers in the hopes they’re willing to negotiate the price. There are no hidden fees on Marketplace and most sales are made in person with cash, though there’s always the option to use a third-party like PayPal.
Cons
Meta doesn’t oversee sales in the way other platforms might, so there’s less security and limited seller and buyer protections, meaning you’ll need to be more alert for scams. Because of its offer system, sellers will likely cop their share of lowball offers and ghosting, where buyers ask a series of questions but then don’t follow through. One remedy for this is opting for something even more direct, like posting your secondhand pieces to your Instagram stories.
eBay
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What is it?
eBay is one of the oldest online resale platforms with 135 million active buyers worldwide. According to its internal data, a handbag is sold every 60 seconds. It first launched in 1995 and it specialises in anything – from car parts and tech to clothing and accessories.
Pros
eBay is like a one-stop shop for buying and selling secondhand. It’s useful for both ordinary and rare items. Though there are a lot of listings, it’s the kind of platform that rewards patience and determination.
As a seller, you can choose how you want to list your items. There are auctions, which are best suited for rare or high-demand items, helping create a sense of urgency and often leading to higher prices. Or there’s fixed price (Buy It Now), where listings are live for around 30 days. You can also choose to pay more for listing upgrades or to promote your listing.
From the end of April this year, eBay is also making it free to sell for eligible Australian-based sellers with up to $25,000 in sales. This means no transaction fees when your listings sell.
Cons
With so many listings, competition can be high, particularly for popular items. It can take time, strong imagery and detailed descriptions to stand out.
For more on secondhand shopping, try this.
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