I have been using Tradesy as a selling platform for a few years. When I first started they were charging 13.9% commission plus 2.9% transfer fee for PayPal.
I felt this was reasonable. It was not as good as Ebay but I thought for a few extra points I would give it a try. I always received my money into PayPal the same or next day,(sometimes it was less than an hour before it would transfer from Tradesy to PayPal.)
Slowly they have raised this commission fee to a staggering 19.8% PLUS a 2.9% "transfer fee." Basically they charge 23% to sell on their platform now. When they raised their rates they promised all kinds of changes like expedited fund transfer and streamlined sales.
Of course this did not happen. On the contrary, it got a lot worse. I am now having to raise my selling prices on their site to compensate for their inflated commission rates. If anyone knew they could buy my merchandise on Ebay for 13% less than Tradesy, I definitely think they would.
Sadly when they raise the commission rate on the sellers there is no choice other than pass that hike onto the buyer which is a shame. Sometimes I go ahead and tell potential buyers that email me on Tradesy to PLEASE go to my Ebay store and buy it for a lot less. Remember how I said that I used to transfer funds to PayPal from Tradesy and it would hit the same day or next day? That totally changed about a year ago, whenever it was that they did their last commission jump.
This is what Tradesy now states as the transfer time to PayPal,"Transfers take 7 or more business days to process after withdrawing from Tradesy." 7 or MORE? Are you freaking serious? 7 OR MORE business days? What is heading to my money for 7 OR MORE business days?
No transfer takes that much time! People, there is something VERY SHADY going on with the transfer time. I don't know if Tradesy is holding the funds longer and trying to get the interest before they'll release or what but it is BAD. Right now I am on my 5th business day waiting for my $238 transfer.
Tradesy is just a bad option for everyone. The buyer gets screwed because the seller is increasing its fees to cover the high commission and the seller is getting screwed from waiting suspiciously long periods of time for funds to be released, therefore prohibiting the seller from reinvesting the money and continuing to sell regularly.
Product or Service Mentioned: Tradesy Website.
Reason of review: Problems with payment.
Preferred solution: Let the company propose a solution.
I liked: Customer service people are nice.
I didn't like: Paypal transfer time is suspiciously long.