When it comes to deciding on higher-end reselling sites like Fashionphile vs The RealReal trying to decide can be tricky. So today, I want to guide you in your decision making and lay it all out there–the good and the ugly!
The decision to go with Fashionphile vs The RealReal will depend on how much trust you have with the company. The Real Real has come under fire for their lackadaisical authentication and aggressive discounted pricing strategy–this affects the buyer and seller. trust. On the other hand, when priced correctly The Real Real has a decent commission structure. Meanwhile, Fashionphile has built up its trust that spans over two decades as one of the leaders in the reseller industry that have stood the test of time.
How much does The Real Real take?
The amount of the money that the Real Real takes depends on how much you consign with them. The more you consign with the Real Real the more you earn. Also with the Real Real the commision rates vary depending on the category and the price point.
The Real Real has a commission rate as low as 40% for original resale list price of $145 or less. Commission rates can be a high as 85% depending on the item, the Real Real has a detailed chart showing the breakdown by percentage and category.
How is Fashionphile’s Commission Rate vs The RealReal
Fasionphile commission rate and how much they charge is a little easier to navigate than the Real Real its simply:
- 30% of the sale price when the item is $3,000 or less
- 15% of the sale price if the item is more than $3,000
Summary: As far as simplicity goes, Fashionphile definitely wins its straight to the point and only has two options.
What brands does The Real Real take vs. Fashionphile?
The Real Real are selective with their brands and they have a complete brand list online.
On the other hand, Fashionphile is super selective with the brands they take at the time of this article they were only taking slightly over 50 brands. That is it!
Summary: So when it comes to brands, Real Real takes in more brands than Fashionphile hands down!
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The Real Real vs Fashionphile Layaway & Payment Plans
With regard to The Real Real uses Affirm and Afterpay where you can buy now pay later for the item of your choosing. With Affirm will have the option to pay off your loan over 3, 6, or 12 months. With Afterpay as long as you pay on time you will have 4 interest fee payments, as long as you pay on time, due every two weeks. $5
Fashionphile does have its own layaway program which in summary works like this:
- You pay 25% downpayment at the time of the purchase
- Your subsequent payments are at least $50 or more
- You determine your own payment schedule however;
- Payment in full is due within 60 days of the downpayment
Summary: Fashionphile offers an official layaway program whereas the Real Real offers a defacto layaway with the retailer buy now pay later options with Affirm.
The Real Real vs. Fashionphile Payments
The Real Real pays upfront if you want to cash out or you can wait and see what the Real Real will sell your item for. Otherwise, you are consigning the item and waiting for it to be sold. The Real Real processes payments on the 15th of the month for the preceding month. Direct deposits can take up to 48 hours and is the quickest way to get paid.
Fashionphile offers a variety of payment options how quick you receive your payment depends on what option is selected.
- Store Credit (plus a 10% bonus!)
- Neiman Marcus Gift Card (plus a 10% bonus!)
- Direct Deposit
- PayPal (2.9% fee applicable)
- Wire Transfer ($50 fee per transfer applicable)
- Check sent by US Mail
Summary: Fashionphile has more variety when it comes to payments.
The Real Real vs. Fashionphile Pricing & Selling Strategy
However, be cautioned forums are abound with discussions on how Real Real aggressive discounted strategy leaves sellers unsati
sfied with the amount of money they made on the sell. Some sellers feel that their items left in the hands of the Real Real does not have the TLC that it would if they would have sold itself on a platform like Poshmark where they control the purchase price.
However, when you consign that is always the risk you take. When you consign with the Real Real you are pretty much leveraging the Real Real’s marketing dollars to sale your item. No one takes care of your stuff better than you. When I see people criticizing the Real Real for how they “sold” their item it reminds me somewhat of how people try to tell you what to do with your life. If you don’t like they way they do business don’t do business with them.
Before I would send an item to the Real Real I would examine it very carefully and ask would I get disappointed if the Real Real discounted the price plus take their percentage count then maybe sell it on your own.
It’s the Real Real business model to push goods and get sales and turning over inventory. Especially now, that they have gone public, your individual item is only apart of a bigger operational push to sale, sale, sale.
Fashionphile vs The RealReal Authentication
The Real Real has gotten in serious trouble when it comes to authentication. The Real Real’s authentication was seen as so sketchy that there investors filed suit because they felt they were bamboozled into thinking that the Real Real’s authentication was better than it was. Basically, authentication was being done by people not really trained to do so.
The probably with this is that authentication is at the heart of any pre-owned luxury good operation. It’s an asset that unfortunetly the Real Real took for granted and they have suffered because of it. Not only as demonstrated in Real Real’s lawsuit, but also via social media callouts and bad press.
Just my two cents I think the Real Real suffered when they are growing and in their case they ….
On the other hand, while the Real Real was getting sued, companies such as the Fashionphile were teaming up with luxury brands on the low to bring them in their headquarters to show them how serious they take authentiation so as not to be perceived as a leech on the luxruty brand and a proliferation of fakes, but a natural extension of the inevitablity of the second life of the brand’s item due to it producing highly coveted luxury items.
Fashionphile has a training process that mirrors “univesrsity like” training with methodically process to help them curate a team of truecly knowledgable authentication personnel who engender a robust authentication process. Also, Fashionphile brand acceptance is at a much lower rate so I can only logically deduce that helps them to keep a “laser focus” without spreading themselves too thin on becoming proficient in authenticating…
Summary: Fashionphile treats authentication like science they take it very seriously. The Real Real in the past played wayyyy too much with not taking their authentication process seriously and this has cost them with consumer confidence in their authetnction services.
Fashionphile vs The Real Real Returns
- Fashionphile accept returns within 30 days whereas;
- The Real Real returns are to be requested within 14 days
Summary: Fashionphile allows you about a month to return, on the other hand, The Real Real allows 2 weeks. If you need a little bit more time to think about your purchase and/or you are prone to buyers remorse, then Fashionphile might be a better pick for you.
Fashionphile vs The Real Real Shipping Comparison Chart
|SHIPPING PRICES (US)||FREE||$11.95|
Fashionphile vs The Real Real: Can you Negotiate Pricing?
You cannot negotiate pricing on either Fasionphile or The Real Real. However, one workaround for better pricing on the Real Real is to mark the item on your Obsessions page and you will get an email when the item you want is marked down.