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I can easily be wrong cause I've not used etsy, but I think reverb has some advantages for selling? Smaller commission, free posting where Etsy charges to renew, paypal so no unauthorized transactions can occur, can charge for shipping (wouldn't like that to change), better customer service, search engine.
I hope Etsy doesn't shut reverb off, the way I read they did with other smaller competitors they bought.
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07-30-2019 08:57 AM
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I had previously posted concerning Ebay fees and the cost if you use the "Reserve" option.
Now on to Reverb.
I sold my 1965 Fender Deluxe nonreverb amp recently. The buyer did not want the early 1966 Utah speaker that was in it. So I pulled it. Among other places, I put it on Reverb. The speaker had been reconed and tested. Good to go. My intital asking price was $199. But I ran a 15% discount promotion. The price became $169.15.
The speaker sold. The Reverb fees are based on the orginal selling price, not the sale price.
1. Processing fee $5.23 (2.6%)
2. Selling fee $6.97 (3.5%)
3. Bump Advertisement fee $9.96
(5%)
The processing and selling fees are mandatory. The Bump fee is a percentage sliding scale. The seller decides what percentage is used in the sale. The higher the percentage, the greater the expose your item gets.Last edited by Wildcat; 11-26-2019 at 03:52 PM.
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Damn - That's 13%! A consignment will get you the exposure for not much more money and significantly less headache. I'm considering moving all my listings to consignment. I live close enough to Gryphon that I might just drop everything there. People in Palo Alto love paying premiums.
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I find it interesting that the fees were based on the original price rather than the actual sale price.
Originally Posted by omphalopsychos
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Originally Posted by Wildcat
If it's 13% isn't that more than ebay + PayPal?
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I think their strategy has modified now that they have reached massive scale. I haven't looked at their financials but I would bet you they took on massive losses to acquire customers and now they're trying to increase margins to make the unit economics work. Who knows what other directions they might take since their recent acquisition by Etsy.
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You know, another thought I've considered is Retrofret. They tend to price at the top of the market, but their gear always seems to move. Even with consignment fees and cost of shipping to NY, it might not be much worse than Reverb is today.
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I am starting to feel that EBay/Reverb fees plus paypal fees can result in a lower net to a seller than paying a 20 percent consignment fee with an established dealer. The dealer will get (in most cases) a higher price (there is usually a "private party" discount expected by most buyers).
A free Craigslist ad with a face to face cash deal is best, but not always possible. When selling online, there is risk (shipping damage and fraud ) to consider. I have read horror stories on this forum.
I have had auctions not bring what I had hoped for, shipping cost more than I assumed and had a few items show up with undisclosed defects with online sales and purchases.
With local stuff, I have had flaky buyers and sellers both waste my time.
If you consign to a store and it does not sell for a price you can live with, you may get it back with play wear (dings and scratches that were not there when you consigned it).
Probably the best move for most of us is to quit while we are ahead and be happy with what we have. But we are guitar players. We want more. At least one more.
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I'm not seeing any indication of these rates. The site still claims 3.5% selling fee, and then a payment processing fee of 2.7 or 2.9.
What am I missing?
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Originally Posted by wengr
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Okay.
Processing fee 2.6%
Selling fee 3.5 %
Total 6.1%
The Bump fee is voluntary at a sliding scale of 0% to 5%.
So 6.1% to 11.1%
However, as a seller if you have an item that is not a common item, ie., 1966 Vintage Fender speaker, or wanted to sell in a timely manner, I felt a need to Bump it to get the visibility needed to sell it.
Originally Posted by wengr
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This is a "snapshot" of an item that you all can relate to. The purpose if your contemplating selling an item to explore your options at this time.
The big take away is that the percentages for fees was based not on the actual sale price, (discounted), but the original listed price.
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That seems unfair. If you agree to do one of their 15% sales, they should discount the fees by 15%. I would call them and complain if I were you. I'll bet that they do an adjustment/refund.
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Originally Posted by omphalopsychos
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FWIW, I just "chatted" with someone from Reverb -- she said the selling fee is based on the "sold" price (with shipping, etc.), and not the "listed" price (if these are different).
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The selling fee is a standard 3.5%.
The math on this says.
$199.00 (orginal price) x 3.5 = $6.97
$169.15 (sale price) x 3.5 = $5.92
They charged me $6.97.
The processing fee is the one I had no idea about. I was like doesn't the selling fee include this?
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So I got it figured out.
1. Orginal price $199 + shipping estimate listed $30 =$229
2. Sale price $169.15 + shipping $30 = 199.15
3. All fees are based on the combined sale price and shipping fees.
Call me stupid but I had no idea they charged a processing fee and the fees are based on the combined sale price and shipping costs in your sale.
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Originally Posted by Dennis D
ebay soon caught on and revised its fee to include the shipping charge. Reverb is just following suit and a good thing, too.
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I am still trying to wrap my head around the following,
1. They have a fee for "charge processing ".
2. The final total inwhich the fees apply includes the shipping cost that you show on your sale.
3. From the buyers side they are adding state sale taxes on a weekly basis. Pennsylvania my state is included now.
Originally Posted by Stringswinger
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Originally Posted by omphalopsychos
John
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Consignment fees:
-15% was the old normal.
-20% is the new normal.
-Some retailers are now pushing it to 25%.
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Originally Posted by Wildcat
Last edited by Hammertone; 11-28-2019 at 02:18 PM.
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Mandolin Brothers and Gruhn were charging 25% back in the day.
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Originally Posted by Wildcat
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I buy and sell on Reverb quite a bit. I've never used the Bump feature, though. The fees seem reasonable compared to the 20% local shops charge for consignment, and I don't risk the wear and tear (or breakage) from everyone that wants to try it out in that store. The upside of the shop is that you don't have to deal with shipping.
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