The market is hurting them too! They may have a big inventory. I used to sell a lot there because they have competitive quotes and now they have even turned me down. I wanted to sell a Chanel doble flap they came back saying they have too many! 😵💫 crazy as it is, I still think they offer the best quotes in the market unless you sell the item yourself. Also, I think instead of maximazing their profits they are leaving some wiggle room in case the item doesn’t sell or sell with a discount during a special event. I like you video because it picks out brains. Spending in luxury items is no longer an investment it’s just an expense. You just decide where to put your money without expecting returns. 😫🤭❤
Great point! They definitely have to account for slow sales, especially given the market. Of course, if they priced things more competitively, perhaps they wouldn’t have as much inventory (just saying 😜). But I do think they have a lot of benefits to their business model, which puts them among the best out there. And your last statement - agree 1000%
Considering the operation cost, labor cost, warehousing, inventory cost, shipping cost, maintenance cost etc etc. profit margin probably ends up somewhere similar to other industries.
This is a good video topic with interesting information. You’ve done the homework for us. For the card holder, I like colors and would have considered the pink over the black. As far as profit for the company, at first I thought they are low balling but it makes sense that they want to leave wiggle room in case it doesn’t sell at the higher price as Melissa noted in the previous comment.
I follow FP and have for years. One thing that I have also keyed in on is that they increase the price of an item if it sells and then gets relisted. (For those of us who might have favorites saved.) A higher price will be listed and it's usually a lot. They have to recoup and you will pay if you are the next buyer. Pay attention my fellow handbag lovers :) I guess I'm feeling frustrated with them lately ;( Great Video!
Thanks for the inspiration 😁 Regarding selling privately, I’ve thought about it…Fashionphile is just SO convenient in their process (albeit you have to submit multiple times). I’ve sold a couple pieces on eBay and it was ok, but they take a cut and PayPal takes a cut and it lowers your final sale amount.
I actually think they would have listed your items in giftable condition. I feel that they tend to list almost anything with all the things in giftable condition. I’m all for FP making a profit. They are a business. But, they often make offers that are completely ridiculous, even when you factor in profit. Especially as often they charge over retail for many brands. But, I tend of think they low ball because they have inventory that takes time to sell and that they often don’t make much on. I also think their refresh program hurts them, as they have to guarantee a certain payout to those customers.
Oohhh, good call on the refresh program! I was clicking around their site yesterday and was surprised with how much they had as 20%/30%/Last Call - definitely a mix of over-priced for the quality and low demand in general 🤦🏻♀️
Would I pay the $300 difference between a black cardholder and another? It would depend if I found the second color pleasing and delightful, and how frequently I planned on using it. I like the smile on people’s faces when I pull out something special.
Ohh, that’s a great question. Knowing the price point of Hermes bags (and how difficult it is to get certain styles), I’d hope they’re more fair with those quotes.
I wonder if submitting the items as full sets and in such a good condition is triggering some kind of alarm on their system regarding the authenticity of your items thus affecting your quotes. With the super fakes market being what it is it can feel a little suspicious when you don't know whos the person offering them. Regarding the Phoebe classics, unless they are seasonal variations I wouldn't really pay more for that é, and this weaves in into the price differences between colors because, do I actually like the color that's cheaper? would I still chose it if they were the same price?
Depends on how quickly you send your item because once they receive it, they have to verify it’s as you said it is/authentic, which they quote 3-5 business days (but in my experience, it doesn’t take that long). Once that happens, they issue the payment fairly quickly. The last couple items I submitted, once they received, it only took a day before I had my payment in the form of a NM Gift Card.
The market is hurting them too! They may have a big inventory. I used to sell a lot there because they have competitive quotes and now they have even turned me down. I wanted to sell a Chanel doble flap they came back saying they have too many! 😵💫 crazy as it is, I still think they offer the best quotes in the market unless you sell the item yourself. Also, I think instead of maximazing their profits they are leaving some wiggle room in case the item doesn’t sell or sell with a discount during a special event. I like you video because it picks out brains. Spending in luxury items is no longer an investment it’s just an expense. You just decide where to put your money without expecting returns. 😫🤭❤
Great point! They definitely have to account for slow sales, especially given the market. Of course, if they priced things more competitively, perhaps they wouldn’t have as much inventory (just saying 😜). But I do think they have a lot of benefits to their business model, which puts them among the best out there. And your last statement - agree 1000%
Considering the operation cost, labor cost, warehousing, inventory cost, shipping cost, maintenance cost etc etc. profit margin probably ends up somewhere similar to other industries.
Very good points - insurance plus general overhead isn’t cheap!
This is a good video topic with interesting information. You’ve done the homework for us.
For the card holder, I like colors and would have considered the pink over the black.
As far as profit for the company, at first I thought they are low balling but it makes sense that they want to leave wiggle room in case it doesn’t sell at the higher price as Melissa noted in the previous comment.
Agree with you. I think most businesses try to make 50-65% profit.
Agreed - it’s interesting to see how much inventory they have in 20%/30%/Last Call, so they definitely have to account for overheard/other factors.
I follow FP and have for years. One thing that I have also keyed in on is that they increase the price of an item if it sells and then gets relisted. (For those of us who might have favorites saved.) A higher price will be listed and it's usually a lot. They have to recoup and you will pay if you are the next buyer. Pay attention my fellow handbag lovers :) I guess I'm feeling frustrated with them lately ;(
Great Video!
VERY good point ✨
I knew you’d do a great job of this video and you did! So informative! Would you consider selling privately?
Thanks for the inspiration 😁 Regarding selling privately, I’ve thought about it…Fashionphile is just SO convenient in their process (albeit you have to submit multiple times). I’ve sold a couple pieces on eBay and it was ok, but they take a cut and PayPal takes a cut and it lowers your final sale amount.
I actually think they would have listed your items in giftable condition. I feel that they tend to list almost anything with all the things in giftable condition. I’m all for FP making a profit. They are a business. But, they often make offers that are completely ridiculous, even when you factor in profit. Especially as often they charge over retail for many brands.
But, I tend of think they low ball because they have inventory that takes time to sell and that they often don’t make much on. I also think their refresh program hurts them, as they have to guarantee a certain payout to those customers.
Oohhh, good call on the refresh program! I was clicking around their site yesterday and was surprised with how much they had as 20%/30%/Last Call - definitely a mix of over-priced for the quality and low demand in general 🤦🏻♀️
Would I pay the $300 difference between a black cardholder and another? It would depend if I found the second color pleasing and delightful, and how frequently I planned on using it. I like the smile on people’s faces when I pull out something special.
That’s a great point - there’s something fun about an unexpected pop of color with an slg 🤩✨
I wonder how much they would quote hermes bags vs selling them
Ohh, that’s a great question. Knowing the price point of Hermes bags (and how difficult it is to get certain styles), I’d hope they’re more fair with those quotes.
I wonder if submitting the items as full sets and in such a good condition is triggering some kind of alarm on their system regarding the authenticity of your items thus affecting your quotes. With the super fakes market being what it is it can feel a little suspicious when you don't know whos the person offering them.
Regarding the Phoebe classics, unless they are seasonal variations I wouldn't really pay more for that é, and this weaves in into the price differences between colors because, do I actually like the color that's cheaper? would I still chose it if they were the same price?
Interesting thought on submitting a set for review (I hope that’s not the case) 🤔
Luxury items literally have no value now. Not a good time to sell. Owners are stuck, whether we like it or not
If you accept their offer when do you get paid?
Depends on how quickly you send your item because once they receive it, they have to verify it’s as you said it is/authentic, which they quote 3-5 business days (but in my experience, it doesn’t take that long). Once that happens, they issue the payment fairly quickly. The last couple items I submitted, once they received, it only took a day before I had my payment in the form of a NM Gift Card.
@@simply_her_perspective Thank you! 💕