#1
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Sigh...Reverb increasing selling fees
Just got an e-mail from Reverb stating that they are increasing their selling fees:
"Beginning on August 4, 2020, we are increasing our selling fee for the first time ever— from 3.5 % to 5%." So that equates to 7.7% total with their transaction processing fee, or 7.5% if you have a preferred account. eBay is revamping their entire payment processing platform this year to get away from PayPal, so it will be interesting to see how this pans out for Reverb. I would think they'd like to keep fees low since they are now required to collect sales tax for most states. So now the buyers are getting shafted from one end, and the sellers from the other. |
#2
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Quote:
It’s a great platform and I appreciate it both as a buyer and seller, but this pushes me a little closer to favoring consignment over selling via reverb. The amount of time it takes to take good photographs, make a good listing, and then deal with selling/shipping the thing is significant and I was already close to the tipping point. This likey pushes me out of the selling on Reverb game. As to sales tax, buyers aren’t being shafted, they’re just being forced to do what they were supposed to be doing before and most likely weren’t (paying use tax). This is too bad, but Etsy didn’t buy Reverb because they like selling guitars, they bought it to make money. |
#3
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Just got the email. Goodbye reverb for me. Looks like it's this forum's classifieds and Craigs list for me.
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#4
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Quote:
You forgot to mention this nugget "(the increase) will enable us to significantly grow our marketplace so that we can help you reach even more buyers all over the world" Can I keep it at 3.5% cuz I wouldn't ever sell anything outside of the continental USA? I am not surprised, but they will almost certainly alienate more retail stores...I've already seen many letting folks know to "call us for a better price", etc. They have less leverage on Reverb, but the exposure is second to none. As for the average joes like most of us, we'll inevitable raise our prices a little to cover it more? or just sell for less? |
#5
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I received the notice. Getting more and more frustrated with Reverb. It will force sellers to raise their asking price even further, while buyers want to pay less to help cover sales tax. I'm buying and selling less these days and mainly sticking to the forums!
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#6
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Just saw the same email.
I liked using Reverb because it seemed to provide a much safer place than eBay or Craigslist for transactions, and relatively faster sales. If you're a retail establishment, you can't just "eat" fee increases, so I think this will certainly drive some sellers away, and increase prices. Whether it really results in increased revenue for Etsy or they lose volume to make it a mistake, time will tell. (If there's an item at a retailer that accepts offers, I'll probably find their number and call them direct now.)
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"I know in the morning that it's gonna be good, when I stick out my elbows and they don't bump wood." - Bill Kirchen |
#7
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Yeah this is just greed. I’m done with reverb and I’ve sold a lot. At a time when most people are struggling they decide to get rich. It’s going to be better to just buy from a forum sponsor at the prices they sell at because seekers are going to have to charge more.
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#8
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I can see brick and mortar dealers exiting Reverb. They hopefully will have other / better avenues to sell.
That leaves the casual seller hoping to flip guitars for a profit; those will be impacted the most IMO. Then you have those (like me) who like to change things up now and again. I suspect this group will turn to CL and forum sales. I had generally gotten away from Reverb anyway.
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Tom Martin Custom Authentic 000-28 1937 Martin 1944 00-18 |
#9
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I also just got the same email. What a bummer. I’ll just go back to doing local sales.
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#10
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Way to go Etsy/Reverb. Just when the economy is struggling and independent small businesses are having a hard time (many of which use Reverb), they raise their seller's fees. I know they are in business to make money; nothing wrong with that. But the timing couldn't be worse.
On another note, this may be the time to snag that listing you've been watching before the fee increase.
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Martin 000-28 Ambertone (2020) and four ukuleles. I don't have a tuba. Last edited by salsarev; 07-14-2020 at 12:14 PM. |
#11
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perhaps a bright side is the closing of the gap between online and brick and mortar stores in favor of the latter. I only wish I had more 'live and in person' options closer to me as I've always preferred to play 'em before I buy 'em.
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"I go for a lotta things that's a little too strong" J.L. Hooker |
#12
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I haven't used them to sell stuff for the last year, but I do buy parts, etc.
If it's over $100 I think in the future I'll just phone the seller if they are brick and mortar and buy direct and bypass Reverb.com. |
#13
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Reverb ups the ante
I just received a notice from Reverb that they are raising their fee from 3.5% to 5%. The long explanation isn't persuasive - at least not to me. This will have the effect of raising the cost of guitars. I'm disappointed. Larry
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Wechter/Scheerhorn square neck reso; Gibson TG-25, HP665; Rockbridge 000 Custom BZ; Guild DS-240, F112; Martin HD-28, J-40, D-15SS; Northwood L-00; Regal resonator; Furch Vintage 3 OM-SR; Larrivee L-03W; Gretsch resonator; Mackenzie/Marr Ian Tyson; Taylor 714ce; Alvarez APA 1965 |
#14
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If you find a good brick and mortar store that you trust you can find some good guitars on Reverb and then contact the seller directly to purchase off network. I'm sure Reverb could void the seller's account but I don't think they would. If they are struggling with revenue they will probably slap the seller's hand, issue a warning and move on.
With the increase from Reverb I doubt the seller would even mind having their account terminated at this point. |
#15
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A lot of folks are finding the item on Reverb and then negotiating the sale off Reverb to avoid the taxes already, so this fee change will just increase what's already happening.
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Current: Lowden F35, Sitka / Cocobolo. Maestro Victoria, Sitka / EIR. Maestro Singa, Adirondak / EIR. Maestro Singa, Sinker Redwood / Wenge (incoming) Gone but not forgotten: Martins, Gibsons, Taylors, sundry others. |