Why did Grailed raise the commission fee for sellers?
Raising our commission fee allows us to improve the quality of our platform, by investing in new features and technology that will enhance the buying and selling experience for our community. This is the first time we have changed our commission fee in almost five years.
When does the commission fee change take effect?
The updated commission fee went live on August 12, 2020 at 12 p.m. ET. All listings created on or after this date will be charged a 9% commission fee.
What happens to the listings that I created before the commission fee change?
All listings created before August 12, 2020 at 12 p.m. ET will keep the 6% commission fee.
What if I created my listing before the commission fee change, but it hasn’t been published yet because it is being reviewed by Grailed?
As long as the listing was created by you before August 12, 2020 at 12 p.m. ET, that listing will keep the 6% commission fee.
Does the commission fee change affect shipping costs?
Shipping costs are accounted for as part of the total payment received and are therefore also subject to the commission fee.
Does the commission fee change affect buyers?
The updated commission fee only applies to sellers. Grailed is still free for buyers.
What new seller features and benefits is Grailed launching?
We are committed to developing innovative features to improve the selling experience on Grailed. We talked to thousands of sellers to understand what people wanted the most from Grailed.
Most recently, we released Binding Offers and made significant investments in Digital Authentication.
This past March, we released Binding Offers. A binding offer is an agreement between the buyer and the seller. When a buyer makes a binding offer and the seller accepts, the payment is completed instantly and the sale is made. This feature speeds up and streamlines transactions, helping sellers make sales quicker. Since launching binding offers, we’ve reduced the number of messages needed to complete a sale by almost half. This means more sales for sellers. You can read more about Binding Offers here.
Since January this year, we’ve digitally authenticated nearly 1 million listings. Items are reviewed by our growing team of expert moderators. Using a combination of human and machine moderation, we ensure every listing is legitimate. Listings that have been digitally authenticated are much more likely to sell. Digital Authentication makes Grailed a much safer and trustworthy place for both buyers and sellers. You can read more about Digital Authentication here.
Over the next several months, we are continuing to invest in bringing our sellers features that will enhance their experience. Here are some of the major areas we will be investing in:
- Making it easier and faster for sellers to list their items
With improved listing and upload features
- Helping sellers increase their sales
With new listing fields and price intelligence tools
- Helping sellers manage their listings
With features like vacation mode and listing drafts
- Streamlining the shipping process
By introducing Grailed shipping labels and automatic tracking
Our work doesn’t stop there. We are going to continue listening carefully to our sellers and releasing new features in the future.
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