Poshmark Review
Pros
- DollarBreak’s test earnings – $9.05 for clothes
- No upfront costs – listing items is free
- User base of 80 million potential buyers
- Full control over pricing and negotiation
Cons
- Frequent issues with unresponsive customer support
- Payment delays until buyer confirms receipt
To see how it works, I decided to try selling some of my own clothes on Poshmark. I downloaded the app, created an account, and listed several items for sale.
While Poshmark doesn’t charge to list items, they do take a commission on each sale.
During my experience, I successfully sold a denim jumpsuit. After Poshmark’s fees were deducted, I received $9.05 for this sale. This gave me a real-world example of how the platform’s fee structure works.
Is it worth your clothes with Poshmark?
Here is what you need to know:
Is Poshmark Legit?
Poshmark is a legitimate and safe platform for buying and selling fashion items, accessories, and home goods. It has a rating of 4.4 on Google Play Store, 4.8 rating on App Store, and 1.3 rating on Trustpilot.
Most users appreciate the platform’s large user base and easy-to-use interface for listing items. Sellers also highlight that Poshmark provides free shipping labels and allows listing in various categories beyond just clothing. Many find the ability to negotiate prices directly with buyers beneficial.
However, some users have expressed concerns about the recently introduced buyer protection fees and high shipping costs. Others have reported difficulties with customer service responsiveness and issues with the search functionality. Despite these challenges, many sellers continue to find success on the platform, particularly those who actively engage with the Poshmark community.
Website | Rating |
---|---|
Google Play Store | 4.4 |
App Store | 4.8 |
Trustpilot | 1.3 |
How Much You Can Earn With Poshmark?
Based on my experience and recent changes, your earnings can vary widely. As a casual seller, you might make a few hundred dollars monthly, while dedicated part-time sellers could earn $1,000 to $3,000. Some full-time sellers report $5,000+ monthly. Your success depends on factors like inventory quality, time investment, and pricing strategy.
Key points to consider:
- Time investment: Regular listing, sharing, and community engagement are crucial.
- Item quality: Brand-name and designer items typically sell better.
- Pricing strategy: Price slightly higher to allow for negotiation.
- Customer service: Quick responses and shipping can lead to better reviews.
The new fee structure (as of October 3, 2024) can potentially increase your earnings, with a tiered fee plus 5.99% of the order total replacing the old 20% flat fee for items over $15.
Challenges include fierce competition and buyer expectations for low prices. New sellers should note that Poshmark may initially hold funds for up to 7 days.
What are Poshmark Fees?
Poshmark has recently updated its fee structure, effective October 3, 2024. Here’s a breakdown of the new Poshmark fees:
- New “1-2-3” Fee Structure:
- The old 20% flat fee has been replaced with a tiered system.
- You’ll now pay a fixed fee of $1, $2, or $3 based on the order price.
- Additionally, there’s a 5.99% fee on the total order value.
- Order Total Calculation:
- The order total includes the item price, shipping, and taxes (where applicable).
- No Additional Fees:
- Poshmark continues to offer zero payment processing fees.
- There are no extra charges for seller services.
- Posh Pass Beta Program:
- This new program lowers the shipping fee for your entire closet to $5.95 (paid by Poshmark).
- Posh Ambassadors are automatically offered this program at no cost.
- Automatic Application:
- The new fee structure applies to all existing and future listings from October 3, 2024.
- You don’t need to take any action to update your listings.
- Example Calculations:
- On a $20 item, you might keep around $16-17 after fees.
- On a $100 item, you could keep about $90-92.
This new structure is designed to help you keep more of your earnings compared to the previous system, especially on higher-priced items. However, it’s important to factor in these fees when pricing your items to ensure you’re still making a profit that aligns with your goals.
How Poshmark Will Pay You?
When you’re ready to collect your earnings, you can withdraw them directly from the app at any time. Go to the Account Tab, tap on My Balance, then select ‘Redeemable’ to choose your payout option.
Poshmark offers several ways to receive your money:
- Direct Deposit: Enter your bank details, and Poshmark will transfer the funds to your account. No fee. Funds are available in 2-3 business days.
- Mailed Check: Provide your mailing address, and Poshmark will send you a physical check. No fee. The check arrives in the mail within 2 weeks.
- Instant Transfer: Add a participating Visa or Mastercard debit card. Your money is sent directly to your account, usually within 30 minutes. Transfer fee: $2.
- PayPal: Log in to your PayPal account. Poshmark will send your money there, available within 30 minutes. Transfer fee: $0.35.
- Venmo: Log in to your Venmo account. Your funds are sent there, available within 30 minutes. Transfer fee: $0.35.
Instant Transfer, PayPal, and Venmo use Hyperwallet payment services and offer faster access to your funds for a small fee. Direct Deposit and Mailed Check are free but take longer to receive your earnings.
Choose the payout method that best fits your needs, considering the speed of payment versus the associated fees. If you need your money quickly and don’t mind the small fee, the instant options might be preferable. For larger amounts where the fee is less significant, or if you’re not in a hurry, the free options could be more suitable.
What Are the Poshmark Pros & Cons?
Poshmark Pros:
- Large user base: You instantly tap into a vast market of potential buyers.
- User-friendly platform: The app and website are easy to navigate for both buyers and sellers.
- Prepaid shipping labels: Poshmark provides these, simplifying the shipping process.
- Social features: You can share listings on other social media platforms to increase visibility.
- Potential for extra income: It’s a great way to monetize your unused clothing and accessories.
- Lower fees: The new fee structure (as of October 2024) allows sellers to keep more of their earnings.
Poshmark Cons:
- Time commitment: Success often requires consistent effort in listing, sharing, and engaging with the community.
- Competition: Popular categories can be highly competitive, making it challenging to stand out.
- Buyer expectations: Some buyers expect very low prices, which can make it difficult to profit on certain items.
- Limited categories: While Poshmark has expanded, it’s still primarily focused on fashion and home goods.
- Potential for low-ball offers: Buyers can make offers on items, which sometimes leads to frustratingly low bids.
- Fund holding: For new sellers, Poshmark may hold funds for up to 7 days as a security measure.
Is Poshmark Worth It?
From my experience, the answer depends on your goals and expectations.
If you have quality items to sell, especially brand-name or designer pieces, and you’re willing to invest time into the platform, Poshmark can be quite rewarding. The large user base provides ample potential buyers, and the new fee structure allows you to keep more of your earnings.
However, success on Poshmark requires consistent effort. You’ll need to regularly list items, share your closet, and engage with the community. This time investment can be significant, but it often pays off in sales.
For buyers, Poshmark offers a treasure trove of deals on both new and pre-owned items. The social aspect of the platform can make shopping enjoyable, and you can often find unique pieces at great prices.
That said, if you’re looking for quick, effortless sales or purchases, you might find Poshmark frustrating. The platform’s social nature means it’s not as straightforward as traditional e-commerce sites.
Ultimately, I believe Poshmark is worth it if you enjoy the process of buying and selling fashion, have patience, and are willing to put in the effort. It can be an excellent way to declutter your closet while earning some extra cash or to find great deals on fashion items.
How to Sell Stuff on Poshmark?
- Download the app and create an account. It’s free to join and list items.
- Take clear, well-lit photos of your item from multiple angles. Include any flaws or special details.
- Create your listing:
- Write a descriptive title with relevant keywords.
- Set your price (consider the platform’s fees).
- Add a detailed description, including brand, size, condition, and any imperfections.
- Choose appropriate categories and tags.
- Share your listing regularly. This boosts visibility within the app.
- Engage with the Poshmark community:
- Follow other users
- Like and share others’ listings
- Respond promptly to questions from potential buyers
- Consider joining or hosting Posh Parties – themed virtual shopping events.
- Be open to negotiations. Buyers can make offers on your items.
- When you make a sale, Poshmark will email you a prepaid, pre-addressed shipping label.
- Package your item securely, perhaps adding a thank-you note for a personal touch.
- Ship promptly (within 2-3 days is ideal) to maintain good seller metrics.
- Once the buyer receives and accepts the item, Poshmark releases your earnings to your account.
Poshmark FAQ
How much does Poshmark charge in fees?
Poshmark charges a tiered fee ($1, $2, or $3) plus 5.99% of the order total, including shipping and taxes.
How long does it take to get paid on Poshmark?
After the buyer receives and accepts the item, you can withdraw your earnings immediately. Payment processing time varies by method, from 30 minutes to 2 weeks.
Can I sell used items on Poshmark?
Yes, you can sell both new and gently used items on Poshmark. Just be honest about the condition in your listing.
What happens if a buyer is unhappy with their purchase?
Buyers have 3 days to report any issues. If valid, Poshmark may approve a return. After 3 days, the sale is final and your earnings are released.
How do I price my items on Poshmark?
Research similar items, consider the item’s condition and original price, and factor in Poshmark’s fees. Price slightly higher to allow room for offers and negotiations.