An Offer You Can’t Refuse!

Poshmark has this way awesome, new feature called ‘Make An Offer’. If you haven’t noticed yet or haven’t updated then you probably don’t know what I am talking about, but if you have seen it or even used it I believe this is a Godsent! Now Poshmark has made a lovely How-To (please see it here) on the logistics of the actual utilizing of the function. There are some mixed emotions that come along with it. I for one am 100% for it, while others I’ve heard have a couple qualms about it. So we will be going over everything, all the features and some of the awesome and maybe downsides to the overall experience. If you haven’t dealt with it yet and just need a quick refresher I’ll give one right here from my own account! Let’s start with this:

Screen Shot 2014-10-29 at 7.31.03 AM

So these look yummy! Screen Shot 2014-10-29 at 7.32.32 AM

See the ‘Offer’ button under to the ‘BUY NOW’ button?

Screen Shot 2014-10-29 at 7.33.54 AM

Once I click on it it’ll take me to this screen (keep in mind I’m doing this on a web browser, on the Poshmark Blog they do it straight from the app, but the processes still the same): Screen Shot 2014-10-29 at 7.35.23 AM

So my offer is going to be a handsome $300…NOW (segue) this is one of the biggest complaints I’ve been hearing from sooooooo many people! My friends, my family, and my co-workers that utilize this feature, all say the same thing: “I get lowball offers alllllllllllllllll the time!”. Let me tell you something, if I could get a pair of Authentic Chanel’s for $.50, I would, and so would the girl right next to me. We live in a world (a Posh World) where getting a good deal is right at your fingertips if you just ask for it, so why not ask for it?

Do I get lowball offers all the time???? YES!!!

Do I get offended? No. Never. I have a good laugh, but I can’t fault someone for trying, AND for that matter, they have no idea 1) how much I paid for it, and 2) how much value I posses on it. It may say $200 as my price but who knows, I may just don’t want to deal with it and just give it away! Plus, I can always counter them with a price I am willing to go to, or I can just decline their offer if my price is firm. Either way you still have control over your closet!

Lassoing it back in… Here’s my $300 and then I click ‘Next’. Screen Shot 2014-10-29 at 7.37.20 AM

Then it’ll take me to a payment screen: Screen Shot 2014-10-29 at 7.49.03 AM

Looks like I’ve got a nice redeemable balance there! I blurred out some essentials, like my address and my credit card info just for safety purposes…don’t want the paparazzi using my credit card and stalking me ya know?! heh. heh. *crickets*

Anyway, this screen is to solidify your transaction. You are automatically committing to a funded transaction with your offer. So on the bright side, as a seller you’ve got a genuine offer that’s backed with funds and no more empty threats of people asking for offers that may or may not go through with clicking that BUY NOW button once you’ve lowered it. In addition to that, there aren’t anymore cat fights for who snatches it up first once it’s been lowered. The only loophole that I’ve found is that if you put in a credit card that has insufficient funds, it won’t process the transaction after you accept the offer. But since I am an honest person, and I don’t want to go about trolling the internet, I have successfully submitted my offer: Untitled

Now once I click ‘Continue Shopping’ it will take me to my feed. Now if I want to check up on the offers, I go to my news feed and then select the tab on the right that says ‘offers’. It’ll show me all my activity, and as you can see here I already received my counter offer! 2

Let’s see where we are at in the process, once I click on the shoes it will show me the progress on the screen: 3

So I’m going to counter again to $325… 4

So this can go on and on and on but this is what it looks like on @krangele’s end: unnamed

She submits her counter and we can continue to tango until we reach an agreeable amount. But in the event that one person gets cold feet, you can always decline. However, you can only decline when the ball is in your court. If you counter that means that if the other person accepts it’s binding on both ends. All ‘Make An Offer’ transactions have a 24 hour pumpkin, so you snooze, you lose! 5

I still have a capability to create a new offer again, and start the whole process over, if you still want to barter. The screen looks quite the same as before: 6

So let me tell you why this is so amazing. I know they mentioned this during Poshfest last year and now finally it’s been implemented and it’s so easy and streamlines the transaction process. The majority of the transactions that I get are through the “Make An Offer” feature and I’ve easily noticed an increase in sales. Before I would count on the end of the week to get prepped and ready for my orders but now I see that they are steadily coming throughout the week! Since this new feature I see at least 1 order a day as opposed to just inquiries.

I think it really is due to the fact that the entire transaction is private. No one sees what you offered or counter offered and there is no communication during the exchange, just the numbers. So all the deal hunters are starting to come out of the woodwork and now have the opportunity to throw a number out and give something for someone to work with. Furthermore, sellers now have an opportunity to not commit to a price that they’ve stated to someone on their wall who may have disappeared after making an offer.

Have I given a lowball offer before? Yes and No. To me, I think the offers I give are pretty reasonable, and I would be willing to pay that much for that item right away. But to someone else? Yes. So keep in mind that any offer is interest and a potential sale. I would much rather have a lowball offer that I have the potential to raise, than no offer at all! So something to keep in mind!

If you have any further questions please ask in the comments below so if you have had any bad experiences or want to add more compliments please do so! Also, @krangele’s shoes are still up for grabs and she’s been absolutely a sweetheart for helping me in this blog post, so if you get a chance to look through her closet please do you can click to take a peek here.

Stay Healthy,

-E

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  1. I have so many questions, can you tell me the difference between PM and eBay? I have been selling for years on eBay, what I have noticed is that there is so much competition that people will sell the same thing so low that it brings everyone’s selling the same thing to lower their item. Also I am a bit confused on some really nice things that I see on PM with really low prices and they are New with tags, is there something I am missing?? Before I join I just want to make sure, the commission for PM is 20% of the sale vs eBay at 10%, why are they PM so high? Also I am not sure on naming my closet and what people see. I would love to hear back, I have been reading your blog and it is very educational, inspiring and fun. Great work and continue what you are doing. Thank you for doing what you do.

    1. The difference between Poshmark and eBay is that Poshmark primarily is a marketplace for fashion for women only. EBay is great because it’s so diverse but yes there is a lot of competition to get your items sold. It’s very cutthroat in nature. On Poshmark I would like to say that is this more of a society for women who love and appreciate fashion and have a savvy business sense. Yes PM charges 20% but that covers all your customer service fees, your taxes, everything! Shipping is paid by the buyer so there’s no stress on that. Poshmark is really good about being fair to both parties and is even encouragingly positive about spreading all the benefits to all its members. I would highly encourage you to go to Poshmark and try it out! You’ll be welcomed and mentored and helped to build your success within the app (as long as you follow the rules). I wish you lots of luck and feel free to send me as many questions as you’d like!

  2. I’m late to this poshmark/make an offer game. Quick question, if you make an offer, the seller counter offers, and you decline the counter and move on to purchase elsewhere, does PM hold out the funds? I’m noticing my card was charged immediately but curious when the offer was declined if the transaction never processed?

    1. Yeah the transaction doesn’t process unless it’s a done deal. It may authorize the charge to ensure you are able to go through with the transaction but won’t charge until it’s been confirmed on both sides. Hope that helps!

  3. Hello. I’m new to Poshmark. What would you say a reasonable percentage off of an item is for an offer? I get some lowball offers so I guess I’m just seeking some insight. Thanks ❤

  4. It’s like you have to raise your prices because offers are about 2/3 of my listed price. I price my items to sell, already as low as I’m willing to go. I wish I could remove my offer button, seriously. It takes work getting inventory, packaging it pretty, including a card & free gift, going to the post office & a $5 profit is so not worth it.

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