Many have heard the phrase “everything is up for negotiation,” and when it comes to the Poshmark platform, this is most definitely the case. In fact, negotiating on Poshmark, to some extent, has become an art form. Handling the low ball offers, coming to an agreement after much back and forth, the exhilaration of finally making that sale—all are components of the way in which poshers negotiate.
But how low is too low? And when should you hold firm on an item’s price? What’s more, are there users you shouldn’t waste time with in terms of negotiating? In this article we answer these questions and more as we dive into the world of negotiating on Poshmark!
The Art of Negotiating on Poshmark
Rule #1: Understand that Buyers Are Looking for Deals on Poshmark
This is pretty basic but extremely important. As a Poshmark reseller you need to go into your endeavor with your eyes wide open. Don’t think that you are going to be able to list used clothing at brand new retail prices. It just isn’t happening. You will turn off other users and your closet will remain silent and stagnant.
Knowing from the get-go that buyers on Poshmark are looking for great deals because, well, that’s why they’re on a reselling platform to begin with, is key. This will give you an overall pricing strategy and, when it comes to negotiating, a better idea as far as starting point. You have to expect those frugal shoppers; don’t get angry about a lower offer, know that this is what the platform is all about.
Entering any form of Poshmark negotiation with a clear head and sense of purpose will help you net the best results possible when all is said and done.
Rule #2: The Offer Feature is There for Negotiation
Poshmark wouldn’t have put the “offer” feature on the app or site if it wasn’t in support of users negotiating with one another. In fact, for most Poshmark sellers, the bulk of their sales will be a result of someone making an offer versus just paying the stated price.
You have to be prepared for this. You have to recognize that this is most likely how the activity around your closet will be. That is to say, people are not going to pay what you’re asking automatically. It is human nature (and especially the nature of those on Poshmark) to try and get a better price—even if that better price is just slightly less.
Play the game. You might find it to be somewhat invigorating and you will definitely find that it can lead to more sales.
Rule #3: Keep It Conversational
Yes, your Poshmark endeavor is a business. However, Poshmark is also all about community spirit. You do want to maintain some level of “business decorum” in your negotiations, but you also want to be human too. That means actually having a pleasant conversation with a would-be buyer.
As the saying goes: You catch more flies with honey…Being nice and polite in your Poshmark dealings gets you a better chance of landing a sale, even after a relatively spirited back and forth about pricing. And sometimes, on the flip side, if the buyer is also super nice and conversational, you may be willing to let your item go for less than you intended. Especially, if it’s something that hasn’t had much activity and/or you just want it out of your closet.
Rule #4: Have a Cushion in Place
What does this mean? As noted before, pretty much all buyers are going to opt to “make an offer” versus paying full price—it’s just the nature of the site. Expect this. Anticipate lower offers and in light of this, when you do set your item price, build in some room for negotiation.
For example, if you know you absolutely want to sell something for 20.00, think ahead to those lower offers and set the starting price at 30.00. This gives you ten dollars to play with so to speak. As long as you are not pricing yourself out of the market value range for that particular item, the cushion strategy often works quite well.
Rule #5: Don’t Be Afraid to Counteroffer
Negotiating is all about offers, counteroffers and even more counteroffers. Neither party knows the other’s bottom line. And so, throwing out a counteroffer, especially if their initial offer is quite low never hurts. The worst thing that can happen is that they reject it and either propose another offer or move on to someone else’s closet.
In either scenario, you really don’t lose out. If they are not willing to engage in the time-old art of counteroffering, then they likely would not have been an ideal buyer anyway.