Want an e-commerce platform that combines a social media experience with buying and selling designer clothes at discount prices? Or perhaps you have seen Instagram celebrities and wondered if you could raid their closets?
Neither of those is a far-fetched idea. Poshmark has been giving people the opportunity to do just that since 2011.
In fact, it is not uncommon these days for social media celebrities to do flash sales of their most-coveted clothes and luxury items on Poshmark.
Whether you are a passionate buyer or someone who is looking to make extra cash on the side selling items people want, Poshmark is the platform for you.
In this post, we will take a look at the pros and cons of Poshmark and how you can safely use the platform whether you’re a buyer or seller.
- Easily buy and sell your designer clothes online
- A more targeted market than eBay or other websites for clothing
- Social selling allows users to follow you
Creating an Account
If you have a Facebook or Google account, you can create a Poshmark account in minutes.
You can also sign-in via an email address if you don’t use either service.
After you sign in using one of the methods above, you will be directed to a page that allows you to choose your brand preferences.
You can always add more brands to follow or change the ones you follow later.
Once You’ve Created an Account
Once you have created an account, you will be able to see the Poshmark dashboard where you can either buy or sell your own designer products.
Let’s talk about how you can use Poshmark to start earning some extra money.
How to Use Poshmark as a Seller
Once you sign up as a user on Poshmark, you can begin listing items for sale by clicking on the “SELL ON POSHMARK” button.
Once you click on this button, you will be able to create a listing and pricing for whichever designer item you’re selling.
If you successfully list and sell an item, you will earn as much as 80% of the sale price of the item.
Want to Sell via a Party on Poshmark? You Can Do That.
Beyond listing your product, there are other ways to sell on Poshmark.
As a seller you can participate in “Posh Parties.” These are virtual selling and buying parties that happen on the Poshmark app. If you have other friends who own designer items, you can get together with them to participate in these parties.
Posh Parties are organized around themes or brands. And so for instance, there could be a “Best in Bags” party or a “Summer Gucci Party.”
The Posh Parties appear to add urgency to the Poshmark experience in a lot of ways that a QVC show would sell items with the clock on the screen.
If you own designer items that are in high demand, this could be a way for you to quickly generate money.
When you make a sale on Poshmark, you get a prepaid, pre-addressed label that is ready to go on the box. So the added plus here is that you don’t need to go to the post office and stand in line to buy stamps.
This is a feature that a lot of online e-commerce platforms don’t have and so it was a pleasant surprise to see that Poshmark has it.
How to Use Poshmark as a Buyer
Using Poshmark as a buyer is a great way to get good deals on designer items.
Unlike a platform like Craigslist, where you would have to buy things “as is,” Poshmark has Posh Protect. Thus if you buy a product and are not happy or feel you have been duped, you could rely on this program to fix the situation.
It is always important to investigate what you’re buying and whom you’re buying it from before you spend your hard-earned money anywhere online. And this is especially true on a platform like Poshmark.
For sellers on Poshmark, it may be helpful to take a look at how many listings and followers they have.
Since Poshmark is basically a “shop-my-closet,” social-selling website, you can follow sellers on the platform and get to know them virtually before buying anything from them.
You can ask the seller questions publicly before buying from them.
However, like any e-commerce platform, it is always wise to do your research before buying anything.
Items More Than $500
Poshmark has a program called Posh Authenticate. If you buy a luxury item for more than $500, Poshmark will authenticate it for free. The seller will have to ship it to Poshmark first so it can be authenticated.
If they cannot authenticate it, Poshmark will issue you a full refund.
Once they successfully authenticate it, they will repackage the item and send it to you.
Is Poshmark Worth Your Time?
The creators of Poshmark have done a great job of combining several aspects of the online shopping experience that people like into one platform.
If you like to connect with people before you buy from them, Poshmark allows you to do that.
If you would like to buy and sell in a “party” format without having to leave your home, you get that with Poshmark too.
Can you get deep discounts on designer items you’ve always wanted to own? Poshmark has the answer to that.
Do you hate going to the post office to get stamps for mailing your sold items? Poshmark has your back.
And so on many levels, Poshmark is a great curated shopping experience for people who want designer products on a budget.
It also helps that given the high stakes involved — i.e., the typically high prices people have to pay to buy items on Poshmark — they have programs like Posh Protect and Posh Authenticate to protect buyers.
Question for You
Have you used Poshmark?
What are your impressions of the platform?
- Ease of Use
- Company Support
- Income Potential
Poshmark is a platform that allows you to resell and buy used clothes.
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.