6 Tips for Selling Luxury Items on Poshmark
Updated: Aug 27, 2020
One of the wonderful things about selling on Poshmark is that there is a market for all income levels. You can find listings for ten dollars to items that cost thousands of dollars. The luxury Market has become one of my favorite markets to sell in. Before you dip your toe into this market there are some things you need to know. To alleviate buyer’s concerns and ultimately close the sale, there are 6 important steps you should take when listing luxury merchandise. The more information you provide, the more confident a buyer will be in making a purchase. Click HERE to view the Poshmark items I have listed and sold so far in the Luxury Market.
The very first question a buyer will ask when they are interested in your luxury merchandise, is “Is this authentic?”. You should never be offended by this question, because if a buyer is going to spend a lot of money on your luxury item they have a right to know if what they are purchasing is the real deal. Unfortunately, there are scammers on all reseller sites so it’s no surprise that buyers want to do their due diligence before making a purchase.
It’s important to note that Poshmark has an authentication process called Posh Authenticate that ensures the authenticity on all items of $500 or more. You can learn about my experience with Posh Authenticate in my blog post: Everything you Need to Know About Posh Authenticate.
To alleviate buyer’s concerns and ultimately close the sale, there are six important steps you should take when listing luxury merchandise. The more information you provide, the more confident a buyer will be in making a purchase.
6 STEPS FOR SELLING LUXURY MERCHANDISE ON POSHMARK
1. Ensure Authenticity. First and foremost, your luxury merchandise must be authentic. Selling knock-offs, or as Poshmark politely calls them, “Replicas”, is forbidden—it also violates trademark law. If you are reselling a luxury item that you purchased legitimately, then you know that your item is authentic. Nonetheless, you still need to demonstrate this to buyers.
Nearly all luxury brands have some kind of date code, serial number, style number, or reference of authenticity. Be sure to include this information in your listing. Trust me, interested buyers will ask for it. If your item was sourced or given to you as a gift, you need to do the leg work to ensure its authenticity.
When a luxury item is gifted to you or purchased from a thrift store or estate sale, there is always a possibility that the item is a replica—no matter how real it looks. You may have to do some digging and searching on Goggle, but there are a myriad of resources about how to determine if an item is authentic. A popular online resource for bags is The Purse Forum. There are also a plethora of YouTube videos sharing how to determine authenticity of high-end brands. Make sure you conduct your due diligence.
2. Provide Original Receipt When Possible. The best way to prove authenticity is to provide the original receipt of your luxury merchandise from the original point of purchase. Obviously this is only possible if you personally purchased the item and kept the original receipt. If the item was given to you as a gift or past down from a family member second-hand, check with them and see if they still have the original receipt. It’s not the end of the world if you don’t have the receipt; but it will provide buyers with confidence that your item is authentic and you will likely be able to sell the item fairly quickly and for the highest price.
3. Include all the original accessories. Buyers love to get ALL the accessories that come with your luxury item. This would include the original box, dust bag, shopping bag, lock keys (for LV bags), sunglasses case, shoe box, and any other accessories that originally came with the item. The more original accessories you can include, the more likely you will make a quick sale for the highest price. Again, this is only possible if you originally purchased the item yourself and kept all the accessories.
Pro Tip: If you have sourced the luxury item, I recommend purchasing a dust bag, box, or shopping bag (or all of these) from another seller on Poshmark. Many Poshers sell these items for a reasonable price. For example, I've sold my Tory Burch dust bags that I no longer needed for just $19 a piece on Poshmark. The more accessories you can include, the more likely you will close the sale with a high profit margin.
4. Share Tons of Photos. Well, not exactly tons. But you need to take a lot of detailed pictures. Make sure to capture ALL the details—including different angles, the inside of the item, the bottom of the item, hardware, all unique elements, receipts, logos, serial numbers or date codes, and stitching. Include the accessories in the pictures if you have them. Blurry photos are unacceptable so make sure the images are clear.
Lastly, document any damage, scuff marks, pen marks, smudges, stains, scratches, and any other signs of wear and tear. Buyers understand they are purchasing a used item, but they also want to know upfront what condition the luxury item is in. Currently Poshmark allows for 16 photo tiles in each listing, and you should use all of them.
Pro Tip: Create a second listing if needed to display more pictures. You can also use collage photo apps like Pic Stitch to combine multiple images on one photo tile to create more images. If you create a second listing, make sure you mark only one listing for sale.
5. Price Fairly. Just because you are selling a luxury item doesn’t mean you should price gauge. Keep in mind that people come to Poshmark to mostly purchase used (pre-loved) items. If you are selling something used, it’s not reasonable to sell your item at full retail price. If you are selling a brand new luxury item, which is occurring more and more on Poshmark, you still should not sell it at full price because it may take a long time to sell (consider giving at least $20 off).
Also, if you’re selling at full retail price then a buyer would likely just purchase it directly from the brand where they know for sure it’s authentic. I am not saying to sell at a rock bottom price, because the goal is to make a profit-- just price fairly and according to the condition of an item.
6. Video Record all Luxury Sales. This process is very important to protect yourself as the seller. There are a number of processes in place to protect buyers on Poshmark but not many to protect sellers. Therefore documentation is important, and you should video record your luxury item as you pack it—including the USPS postage which has a date stamp. You want to make sure you record the condition of the item and record it being put in the packaging and sealed. I cannot stress enough how important it is to video record luxury items-- DO NOT SKIP THIS STEP!
I don’t think this scam happens a lot, but I have a Posh friend who sold a luxury item and then the buyer reported that the item was damaged (even though it was not). Having a video to back up the condition of the item will help if a buyer submits an order issue to Poshmark. In this scenario, the seller had video evidence and did not have to refund the buyer.
I hope you found these tips helpful! If you have questions about how to sell luxury items on Poshmark, then scroll down a bit and post your question in the comments section and I will respond.
In my next blog post I will share my experience with Posh Authenticate when I sold my Louis Vuitton Speedy 30.