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2 comments

As others are stating, Tradesy makes you wait 21 days for your earnings to be available. But you still don’t get your money yet!

PayPal transfers are ridiculously slow - 10 days and still waiting!!

No customer service for sellers! They expect you to ship in a timely manner, but expect a 2 month wait for your proceeds to reach you!

Hey - I hear they provide catered lunch for the employees!! Ain’t that nice!

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Anonymous
#1488281

Easy answer...they are having a GIGANTIC CASH FLOW problem.I have been selling for over 4 years and I received my payments exactly 4 days after the seller received the item per Tradesy's policy at that time.This is their IDIOTIC explanation on the website for why they hold seller's earnings for up to 21 days now--to secure the INTEGRITY of the transaction. That is a lie.Why?

A credit card transaction is approved almost immediately, PayPal not much longer SO the buyer has paid therefore at that point the security of the transaction is verified by the credit card company OR the sale could not go through. The money shows up in Tradesy's account by the next day, long before the buyer receives the item. If the credit card company has trouble collecting that is THEIR problem NOT Tradesy's.The buyer has 4 days to return after that Tradesy OWES SELLERS THEIR EARNINGS. Tradesy always paid on time until this past year now they can't because....

THEY DON'T HAVE THE MONEY.How do they explain for almost 5 years they could pay sellers on time?Tradesy is waiting on FUTURE sales to pay sellers so they are making us wait 21 days. My items range from $100-$500 and they can't even pay me on time that means TROUBLE.Why did this happen? Stupidity and misuse of venture capitalist's money, over 30 MILLION dollars, to change their WORKING business model QUICKLY to make more money. They created the "Business" member who sold high end items and ASSUMED it would work.It didn't, not even close.

Why? High end items do earn them higher commissions BUT what happens when high end items are returned exactly, they paid the seller $5,000.00 then buyer returns it because they don't like it. Tradesy is out of pocket $5,000 until they sell the item and 95% of the time they can't sell it for what it sold for originally. THEY LOSE on 95% of their sales.

They had easily over a MILLION dollars of these items last year. Lots of RED INK, that's why none of their items can be returned now and they sell them at 75% off and more.They NEED MONEY FAST.Why do you think they raised the commission so fast; in 2013 it was 9%, 1st increase in 2016 very fair after 3 years... BUT TWO BIG ONES the year after. By the end of 2017 it was 19.8% plus 2.9% if you take your earnings out AND they raised shipping in early 2017.THREE increases in 2017 ALONE you ONLY do that when you are running out of cash and have ANGRY INVESTORS who want their money back.I sold on 2 other sites and the EXACT same thing happened.

They promised sellers when they joined commission wouldn't go up for 12 months, went up in 6 months. Then my payments took longer and longer and naturally the investors went bankrupt.

I lost only a few hundred dollars but I talked to one investor at LENGTH and he wrote me a PERSONAL check.The only difference between companies Tradesy is bigger.Tracy the founder and CEO got greedy and convinced venture capitalists she knew what she was doing and it would work.. With no back up plan if it didn't work and burning through MILLIONS in LESS than 3 years the company is on the *** of bankruptcy and the kicker is IT DID NOT NEED TO HAPPEN, any one who took Econ 101 and a BASIC accounting class knows what will happen if you approach your new business model without a back-up plan.BUT I am sure Tracy has paid herself millions and ruined her reputation as a savvy business woman which she was ONLY in her mind.TAKE YOUR MONEY OUT ASAP.

Anonymous
#1485811

Same boat here. Buyer received item on 05/04/18 and I'm still waiting to get paid.It's not exactly heaven working there either. Read reviews on the Glassdoor.I'm disgusted at the way they're handling business and treating us sellers.

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