RealReal is an online marketplace that enables people to resale their luxury items. This resale company was established in 2011 by Julie Wainwright as a small business in San Francisco. The RealReal has grown to accommodate thousands of items and has opened 17 retail stores across the United States.
What is RealReal?
RealReal enables you to resell your luxury items ranging from women’s, men’s, and kids’ fashion, jewelry, watches, home décor, and others. This company is legitimate and not a scam and provides a rigorous authentication process. The Better Business Bureau (BBB) has accredited it and has an excellent rating on Trustpilot.
How to Make Money Using RealReal
Through the consignment process, you can make money through RealReal by reselling your luxury items such as designer handbags, shoes, watches, clothes, books, jewelry, and many more. You are paid with a check or direct deposit once your item sells.
How RealReal Works
To start selling your items and make money on The RealReal, you first have to sign up with the company and prepare your item to be picked up or ship the items to one of the company’s retail locations. The articles are reviewed for authenticity and pricing once received. The company uses the following factors to determine the best price for your commodity.
The RealReal does its best to battle fake items to ensure the platform remains the consumers’ place to buy a used authentic item.
Brand Resale Value
Top brands often retain their value because of their high demand rates in the market. Brands such as Rolex and Gucci will enable you to earn more with a slight difference from the original cost.
RealReal analyzes the trending patterns of the item you want to sell using their internal and external data and then comes up with the right price for the item.
Condition of the Item
The company accepts items ranging from good to perfect conditions. These conditions determine what price each item will attract, and if your item is in excellent condition, you will be likely to earn more from that item after sale.
Newer items will attract higher prices than those that appear used for a longer time. Nevertheless, items considered rare fetch higher prices without necessarily considering the recency of that product.
How to Use RealReal
You can use the reliable platform to sell all your luxury items ranging from designer clothes, bags, shoes, books, jewelry, watches, fine art, décor, kids’ toys, and many more.
The consigning process is effortless with free in-home pickup, drop-off service, and direct shipping.
- Most items in the marketplace sell within a month.
- More earnings. RealReal enables you to earn commission on sold items which are three times higher than other companies. For example, watches with a resell price of $2,495 or above earn up to 85 percent in commissions.
- The platform is easy to use. If you’re selling an item, RealReal can pick up the items, or you can send them to any retail location.
You must have an account to sell your items on The RealReal. You must also be 18 years or above to access the company’s services.
There are no fees to consign items with RealReal for most items. However, the fees paid on items sold vary based on a one-year commission window. The more you sell, the higher commission rates you are paid. Thus, lower consigning fees are paid.
The RealReal Overview
In our review, The RealReal is a sustainable and legitimate company. Are there scam sellers on the marketplace? Unfortunately, there is always the potential for scammers looking for ways to sell fake items. However, the company is committed to protecting consigners and buyers with an authentication team and expert staff.
The RealReal has some negative reviews, although most long-term users have overwhelmingly indicated positive experience and customer service support.
Pros and Cons
- The company offers a wide selection of luxury items from kids’, women’s, and men’s items.
- Items are sold at a faster rate and often within a month.
- You can earn high commissions of the sale price depending on the items sold.
- RealReal determines the price of your item.
- Some items incur high storage fees.
Who is it Best for
RealReal is best for both buyers and sellers. Buyers are guaranteed to obtain used luxurious items but of high quality at relatively lower prices, and sellers can sell items and make money.
The RealReal Alternatives
RealReal has a good rating on some trusted sites such as Trustpilot. Nevertheless, other alternatives offer similar services, such as ThredUP, Mercari, and Poshmark, that you can resell your luxurious items with lower fees.