Immediate Payout..NOT?

[Deleted]

I mailed a bunch of (mainly NWT) stuff to Thredup and elected to take the immediate payout (just shy of $40) rather than wait for the $80-ish. They only returned three items (cost me $10.99). 

I went to withdraw my measly under $30 balance and it says it's unavailable because I haven't sold anything yet. But it's available to shop with on their site? 

My question: I elected the immediate payout so why are they waiting until things sell? Did I miss something in the fine print? 

A separate transaction (3 items I paid for outright):  1 NWT had no tags and was missing beads, I could not get past the smell on another-the 3rd was ok. I emailed them but don't have high hopes for a proper resolution. 

I only sent to them once before several years ago and will never do so again. I guess they're off my list.

[Deleted]

You can use the money immediately as credit. But you have to wait 14 days to cash out. Immediate payout is probably not the best choice of words but it is quicker than waiting on consignment especially because they now make you wait to be paid until after the return period has passed and if buyer returns, you don't get paid until it sells again and is kept :/ I am NOT a fan of this new policy. Although it appears to be arbitrary. I sent in 4 bags recently and some are waiting to pay out and some paid right away. I have no idea the difference but their new terms of service say you don't get paid until return period has passed.

[chapeaunoir]

I'm just a mid-range stuff seller and I think Thred-Up has been sent so much real crap in my range that this is why I get so little for a bag (last time it was $20) - their overhead must be getting ridiculous. That's probably also why they're holding the money - cash flow problems.

[Deleted]

I did not know they held the money for fourteen days. Several years ago I sent in a bag, took forever to process, but I thought the payout was sent quickly to my Paypal account.

I think I'm done with them-I gave a pile of clothes to someone who is re-entering the job market and donating the rest

[somany]

I quit sending them anything for a couple of months but changed to not sending them anything that would sell for more than $50 or so. As I've said before, their payout schedule irritated me when I figured out how much the coupons cost me when the percentage payout decreased based on the lowered selling price. My calculations show that doesn't happen with the lower dollar items so I will continue to send that kind of stuff until I run out of it.

The stuff I'm sending either didn't sell for me or isn't selling well or for very much on ebay. It's stuff I've pulled from my store or things that I don't want to spend the time listing because it's not going to sell for very much. I had a Louben wool blazer in a pretty yellow color, but looking at solds on ebay didn't inspire me to get it listed so off it went. I took the payout of $16, and I'm happy with that. Last bag I let ride for the 7 days they give you to accept their payout offer. Three things sold and then I took the payout on the rest of the items. Got $82 total. Basically I set my expectation at zero so anything I get is a bonus, and I don't pay return assurance. If I had to start paying for shipping to get it to them, that would be a deal breaker, but for now I'll send off whatever duds I still have.

If I ever get on poshmark, I would probably stop shipping to them but right now I am concentrating on getting things listed on ebay. Once I have everything listed, I can think about branching out to other marketplaces, but this business of having backlog in every nook and cranny in my apartment needs to stop so I just need to stay focused on listing for now.

[jesmelric]

I sent a bag in Jan that was supposed to be processed by March 7. I never got any notification it was processed, but I see they have it under my selling history. It says I have potential earnings if the items sell but I was not offered an immediate payout?

Also can you not adjust the prices?

[Deleted]

You should have gotten an immediate payout option and it would show on each item for 7 days. You can also adjust prices still. Click on the bag, and then next to each item it says potential consignment earnings, then there is a button to edit price next to this.

[somany]

If the bag was processed more than 7 days ago, the immediate payout option has expired. They do process before the expected date sometimes, and my last bag was actually a few days late.

You may already know this, but just in case...if it hasn't been more than 7 days and you find you still have the immediate payout option, don't adjust any prices down if you are considering taking the payout. First time my bag had an immediate payout offer, I didn't realize you could pick and choose which items you take the payout on. I wasn't taking the payout and adjusted some prices down, and then realized I could take it on select items. I probably would have taken the payout on items I had already reduced the price on if I had figured it out before I adjusted them.

[jesmelric]

Thanks guys, apparently I was premature because I got the email a short time later and now all the details are available, including immediate payout. The offer is immediate $90.29 or Up to $231.75 for consignment. Although at least 4 things are way too high. Just wondering if you guys find it's just better to take the immediate payout? That was my plan lol.

[somany]

Mar 12, 2019 13:08:31 GMT jesmelric said:

Thanks guys, apparently I was premature because I got the email a short time later and now all the details are available, including immediate payout. The offer is immediate $90.29 or Up to $231.75 for consignment. Although at least 4 things are way too high. Just wondering if you guys find it's just better to take the immediate payout? That was my plan lol.

You can select individual items to take the payout on so evaluate each one on its merits.  Sometimes they price things way higher than they are going to get for the items.  Try not to take the payout until your 7 days are up.  I took the last payout on day 6, and something sold that I would have gotten another $20 or so for if I had waited the one more day.  (I was going to be very busy that day and didn't want to forget so I went ahead and did it on the 6th day so I was OK, sort of, with the lower payout.)