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Remember when you were a student and had a limited budget so you would buy your used textbooks online?
I do! That’s all I did during my time as an undergrad.
Why not buy a used book for a fraction of the price?
When it came time to sell, I could recoup my costs (most of the time)!
It was a cost-effective way of handling the books I needed each semester.
An added benefit of this whole buy/sell process was that it also taught me how to use online platforms as a method of making extra money.
Today, I am going to give you an overview of the buy/sell Poshmark “Posh” platform that I use to sell my clothes and accessories.
I will round out the conversation by discussing Ebay as an alternate way to sell your goods for extra money.
You will be able to gain some insights to start doing the same!
Selling Your Goods Online For Extra Money
Introduction To Poshmark
It was early 2013.
I had recently heard of Poshmark and decided to sign up.
At that time, the company was just about a couple of years into existence.
These days, its considered one of the largest social marketplaces for buying and selling clothing, shoes, and accessories.
The men reading this post – you can sell your stuff too!
Here are some highlights:
→ A shipping label is processed immediately upon sale. All you have to do is print the label, place it on a free post office mailing box*, and put it in the mail (or have it picked up)!
→ Online “closet” is accessible to buyers 24/7. It’s like your own little store.
→ Seller platform with stats to know how you are doing!
→ Easy payout at any amount. I withdrew $2+ at one point…
*no flat rate boxes allowed
Here are some stats based on the data Poshmark provides for each seller.
I currently have almost 5,000 followers, over 2,000 shares, over 70 listings sold, and a total earned of $1,533.
Items to note:
→ Poshmark collects a 20% fee upon the sale of your goods. Keep that in mind when you are pricing your goods for sale.
→ There are certain brands that move quicker than most on Posh.
→ Brands like J. Crew, Tory Burch, Madewell, Nike – a rule of thumb is clothing that is normally at a higher price point.
→ Buyers visit Posh to get these brands at a discount, so this makes sense!
→ No-name brands will work if they are showcased well. There’s a closet I follow that started their own brand and sold their goods through there.
If you are interested in having your own online closet through Poshmark, it’s a simple signup through the website or app.
I set up a new closet for website visitors. I might end up adding some stuff to the closet, so add me and I’ll follow you back.
When signing up, feel free to use my code “FTDCLOSET” for $5 in your Posh account.
You can also refer your friends and get $5 for each signup after they make a purchase.
Let’s move on to the Poshmark selling tips!
Poshmark Selling Tips To Get You Started
#1 – The more you add to your online “closet”, the better it is perceived.
Go through, clean out your closet and choose the best of the best to list. Initially, it is advisable to list at least 10-20 items right away.
Buyers are more likely to purchase from a “stocked” closet AND you are more likely to sell multiple items at once.
Posh Tip: Add a discount to entice buyers to purchase more than one item from your closet – ie. 15% off for bundles
#2 – Great pictures and details equate to a higher percentage of sales.
Take great pictures in natural light. Open up the curtains on a sunny day and snap away!
The picture should show the item clearly.
A rule of thumb is that if you are not attracted to your photos, likely a potential buyer won’t be either.
It is best to really take your time here and add good-looking photos to your listing.
Also, adding a few pictures from different angles is always a good idea.
#3 – Describe! Have thorough descriptions.
Buyers can be hesitant in purchasing from a closet that has few sales or is just starting. Along with having great pictures, try to add thorough and informative descriptions.
Let’s say the shirt you decide to sell is in mostly great condition but it has a small pull or discoloration that is not all that noticeable.
You will want to be fully transparent in this regard. This may seem obvious but sometimes as owners of the clothing, it’s easy to forget about things like that.
Posh Lesson: I learned this when I sold a pair of sandals. I never wore them out so they were practically brand new. I never noticed that one of the sandals had a scuff on it. Long story short, this was a problem for the buyer. Lesson learned – check the item thoroughly prior to listing!
#4 – Share your listings frequently and attend “parties” to get more eyes on your items.
If you are just starting out on Poshmark, you will have a few followers that the platform automatically adds for you.
Don’t fret, you can gain followers pretty easily by just being involved. If you go through and share other people’s items, it increases the likelihood that those people will return the favor.
This will get your listing in front of more possible buyers as you build up your following.
Also, share your items to the “parties” that are held each day at select time intervals.
Oftentimes, I share my items to the 9′ o clock Posh party because it is a general theme that allows all your closet items to be shared.
#5 – Don’t sell items that would not get a high rating.
Save yourself some time and only list items in great condition or new with tags if you want to make sales that give you a high rating.
Each customer that you sell to will be able to give you a rating on a scale of 1-5. If you consistently receive bad feedback – your closet may get closed down.
Also, selling items that are in more demand from well-known brands are going to increase your selling initiatives.
This will move your product faster which means money in your account!
#6 – Set up push or email notifications.
Buyers can submit an offer if they are interested in your goods. The faster you respond and are available for answering questions – the better. It translates to the best possible experience for the buyer.
Look at it like you are running your own little closet boutique and want people to come back and look at your new listings. If you provide stellar customer service then they are more apt to come back.
#7 – If you want to eventually sell NWT wholesale items, Poshmark has a sales channel you can use.
Down the line, if you want to pursue selling online as a business, Poshmark has a sales channel for wholesale merchandise.
I haven’t partaken in this due to the types of wholesale brands.
Though, if you have a reseller license and access to other brands that can be resold on the second-hand market, this might be a viable option for you.
Poshmark is always adding new functionalities, so give it a shot if you are interested in selling goods that need a new home and make extra cash or even start selling for a profit!
Selling on eBay for Extra Exposure
Another selling platform that I use is eBay, where I sell some of the same items that would likely have more of a demand.
Strategically, eBay is more widely utilized and has a diverse customer base, which means my listings get more exposure – this is the main reason I tend to use it in conjunction with Poshmark. You can use some of the same tactics I described in my list above.
It always helps to have great photos, thorough descriptions, and stellar customer feedback.
eBay didn’t provide me any useful seller stats, so it’s a good thing I started keeping track of eBay sales back in 2014, which tallies up to $2,421.12 after considering all fees and shipping costs.
• Poshmark is only available for use in the United States. They are looking to add international capabilities at a later time – according to their website
• eBay has an international presence
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In total, I have made over $3,900 from using both these platforms in the last few years. That’s quite a bit of extra money for the goods that I don’t have a need for anymore.
It’s money I earned from recycling my stuff – that’s pretty cool.
The total does not consider most of 2017 since I was not actively selling during the beginning of this year.
All in all, Poshmark and eBay are both viable options in selling the goods you have lying around the house that are not getting much wear or use.
It’s also a good option if you want to venture into selling wholesale items as a business.
Read more about my mission HERE.
Ways to stretch your money further + earn extra cash:
If you are looking for ways to make extra cash and help your spending go further, here are some ideas:
Ebates – receive $10 when you spend $25 (online/in-store shopping)
Ibotta – receive $10 as a welcome gift (grocery in-store shopping)
Poshmark – receive $5 in your Posh account with code “FTDCLOSET” and sell your goods!
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Have you used Poshmark, eBay, or a different platform to sell your goods online? Which platform do you like using better? Please share your thoughts in the comments below!