If you’re trying to sell your used clothing online, you may have wondered how to price on Poshmark so you can make the most money as possible. Am I right? This was something that I struggled with for my first year as an online reseller of clothing. With tons of research and trial and error, I was finally able to figure out a great way to price my items to align with what those same items were selling for online.
When it comes to used clothing, the resale value can fluctuate drastically. Some vintage pieces of clothing will sell for thousands while others will never sell. Some newer pieces will go for basically nothing while others will sell for almost full retail price. And the only way for us to figure out what our items are worth is through online research. I want to share with you the main ways I price my items. You must keep in mind, most of my items sell for less than what I have priced due to customers sending offers. I always try to price a tad bit higher to leave room for those offers.
I want to share with you 2 ways you can easily price your used clothing for resell. I will use both options depending on the item I have. Sometimes you are unable to find a similar item and that can make pricing difficult. So lets talk about the main way I price my items.
When I sell on Poshmark, I want to research my items based on what others have sold, as well as what the currently listed items are going for. This can take 2-10 minutes depending on your search speed.
Let’s do a step by step tutorial
I have this pair of Cole Haan Leather Boots. I need to research these boots to find my listing price. I know the brand, color and size. These are tan leather and size 6.5. I also keep the condition in mind as they are a bit distressed. I make note of the style code inside the boot. This could also be a name in other items. I also keep my cost of goods in mind. I paid $2 for these boots.
Step 1. Identify the original retail price. These are an older style so I need to do my best to find the original retail price through a Google search. I will use the following keywords in my google search:
I will search through Google Images until I either find this exact pair through an online retailer that sells new items, or until I find a similar pair on the Cole Haan website. Since I also have a number code to look up I will also search using these keywords:
When using this style code along with the brand name, I ran across a pair of boots with what appears to be the same code from inside my boots, however upon looking further I find these are not the same boots and they are an ebay listing. So my search will end on the Cole Haan website and find a pair that closely resemble the ones I have and use that retail price as my own.
This part is where you need to pay attention. Depending on what season you are in, your original retail price needs to match what the items are currently selling for on the brands website. Since it is June, all of the boots similar to the ones I have are all marked down from $300 to $99. Therefore, I will list my original price of the boot as $99. If we were in current season, I would list my original retail price for much more, probably at $300.
Step 2. Now that I have my original retail price of $99, I will quickly use a formula to gauge about what my item should be selling for. I prefer to use the 50/30/10 rule. If the item is new with tags but possibly older I will take the original price of $99 and multiply it by 50 which equals 4,950. Then I divide 4,950 by 100 which provides me with $49.50. So I know this is the higher end price. Since my item is distressed a bit, but still in great condition, I will use the 30% rule and multiply $99 by 30 and then divide by 100 which will give me the price of $29.70. This is the lowest that I will take for my item. I would only use the 10% rule if my item was flawed or very worn.
Step 3. Now that I have a price in mind. I go to the Poshmark app and do my research there. I will find the brand page for Cole Haan. I will then sort by category shoes > heeled boots. From there I will sort by size. These are a size 6.5. I will also sort by color. Since these could pass as tan or brown I will search under both colors.
When I search using the color tan, I only get 24 current active listings for all tan boots by this brand and size. I find no similar boots. So I will go to my filters and select sold. There I find 18 boots sold, and once again, no similar boots. But I do notice the majority of boots are selling for $18- $30. Now I go search the color brown.
When I search using the color brown, I get back more than 100+ active listings where many are priced under $40. When I check the sold listings I find 100s of sold listings where the boots sell for very low prices between $10 and $25. I also found a pair similar to mine but they were a dark brown, they were actively listed at $34. So due to the condition of my boots and what I paid for mine. I decide to list mine at $32, to leave room for an offer or to send a shipping discount.
Other ways to price your items:
Above is how I typically price all of my items, but what if you would rather get an average sold price instead of search through all of the listings? This brings me to the next option, and that is to use a site like Sellhound.com. When using this site, you can use a broader keyword search or minimal. It will compare the average sold price of all used reselling platforms, including Poshmark.
In my search I chose to search the following:
The average sold price for Poshmark is showing $30, which is basically what I found using the 50/30/10 rule. You could also add $5-$10 onto that price to leave room for offers.
I hope you found these tips helpful. Researching prices is a great thing to do before listing as you could be sitting on a highly sought after item that people would be willing to pay good money for. If you happen to have an item that is extremely unique, you would be better off listing high and seeing what kind of engagement you receive in the first few days. If you immediately get tons of lower offers, that is typically a sign that you have an item people want, so try and hold out a bit longer for the price you want.
Be sure to follow me on Youtube for more Poshmark tips and tricks and if you have any questions, please comment below!