If you take a quick glance around your closets, it’s likely you’ll see clothes you no longer wear — or ones that don’t even fit anymore. If so, have you ever thought about a way to make money selling your old clothes?
Some of those items are destined for the trash bin either because they’re beyond saving, or they may be so dated that it would look like you walked out of a time machine if you wore them. In any case, instead of just putting those old garments in storage or giving them away, more and more people have taken making some extra money by selling them.
Selling on Poshmark: Everything you need to know
The internet has facilitated the rise of a vast marketplace of second-hand selling. One of the top sites for selling clothes and other items is Poshmark.com.
RELATED: 35+ ways to make extra money
Launched in 2011 by tech entrepreneur Manish Chandra, Poshmark has grown steadily over the years. The site made headlines in May 2018 when its founder said that transactions on the platform had passed the $1 billion mark.
6 things to know about Poshmark
Poshmark offers users a number of amenities that make transactions easy: expedited shipping and free authentication of luxury items are two primary benefits the site offers.
The way the site works is that each user builds a “Closet,” where they sell their clothes and conduct business. The site highlights top sellers in a “Brand Spotlight” on its homepage, where you can also see trending brands and popular collections.
Equal parts social network & e-commerce site
As a new user, the site’s algorithm will work on your behalf by suggesting to its communities that they follow new “Poshers.” Initially, that’s how people will discover you. But like Facebook, Twitter and other social media sites, you also have to follow people to raise your profile.
To draw more attention to your Closet, it’s a good idea to share other users’ items. There are also groups you’ll want to follow that unite around certain brands and Closets.
What’s the difference between a Boutique and a Closet?
In additon to Closets, Poshmark also features Boutiques. A Boutique generally sells items that are brand new, while a Closet is typically a collection of gently used clothes and shoes. “Boutique” in Poshmark’s lexicon is a condition that means the product has been bought wholesale or directly from the distributor. For items to be labeled Boutique, Poshmark requires that sellers complete Boutique Certification requirements.
What is a Covershot?
The Covershot is the first picture on your Poshmark page. Because first impressions are everything, many users invest in professional photography so that their pictures are high quality. The rationale goes like this: The better the pic, the better your chance of selling stuff.
On Poshmark’s blog, they give pointers on how to make your Covershots stand out: “Modeling your item, utilizing a ton of natural light, using creative angles and alternative points of view can help take listings to the next level.”
How much does Poshmark make per sale?
The platform charges the seller 20% per transaction, which is a fairly large margin compared to similar sites. But with about 4 million active sellers and buyers, the marketplace presents some consistent opportunities for frequent users to make a profit.
Poshmark has a Buy Safe Guarantee
Any transaction done on the site is backed by Poshmark Protect, which is a set of policies to protect consumers. To make the protections work, the site strongly discourages offline transactions and, in fact, those could get you banned.
The site’s refund policy says: “When you make a purchase on Poshmark, we don’t release payment to the seller until you tell us you’ve received your order as described. You have 3 days after delivery to inform us if the item has been misrepresented.”
It goes on to say, “If we verify your claim, we’ll send you a label to return the order to the seller and refund your payment. All returns must be shipped back within 5 days of approval to be eligible for a refund.”
What to know about shipping
Poshmark typically charges $6.49 for shipping, but we’ve seen it go as low as $4.99 during the holidays.
The buyer usually pays for shipping unless they run into a highly motivated seller who’s willing to absorb the charge.
When it comes to shipping, Poshmark provides sellers with pre-paid, pre-addressed labels that are mail-ready. All you have to do is drop the package off at a Postal Service mailbox or have a mail carrier pick it up for free at your home.
Shipping pro tip: If you see several items in the same Closet and want to buy them, make it a bundle deal so that you’ll only be charged once for shipping.
3 ways to make money on Poshmark
Link up with Stylemates: Stylemates are people who wear your same size and may become favorite customers of yours. Poshmark’s app makes it easy to find Stylemates because you can search Closets by size, brand or location.
Participate in a Posh Party to hawk your wares: Because it is a social networking site, the more activity you do on the site (liking other people’s posts and commenting) the more awareness you can build for your brand and products. See where the Posh Parties are and get in on the virtual buying and selling.
Post new items at night: One Posher from Ohio who made $1,200 in two months told ThisIsInsider.com that the key to her success was her posting strategy. “They’re just sitting in bed scrolling through like you would scroll through Instagram,” Kali Borovic was quoted as saying. “They’re doing the same thing on Poshmark. So if you list things at night, it’s more likely to go for your full price.”