Other community marketplace websites have sales fees similar to Reverb’s. More often than not, the fee won’t be anywhere close to this high of a percentage, but it is possible.
You have to decide yourself if the ease and amount of high-quality customers from Reverb is worth the money you lose in the sale due to fees. You still receive a large chunk of money in this case, but there is a significant amount lost due to fees. If you sell a Stratocaster for $1,120.50, after the maximum possible fees you will end up with $861.11. If it is indeed the worst case scenario and you used the highest possible Bump fee, your transaction is international with a different currency, completed with PayPal and is only eligible for the highest Reverb Safe Shipping fee, then you will have 23.1% + $0.55 taken out of your total sale. This fee is one of the main benefits to using Reverb Payments, which typically results in a sales fee up to 25% lower than the PayPal fee, per. For transactions completed using paypal, there is a 2.9% taken out of the total sale price as well as $0.30.
The last possible fee sellers may run into when using Reverb is the PayPal fee. The lowest Bump fee possible is 0.5% and the highest is 5%. The higher the percentage, the more exposure for your listing. Similar to Facebook and Instagram promotion, you pay to have your listing given more exposure, only instead of paying up front you choose what percentage you want taken out of the total sale price. Additionally, since in most cases both countries use a different currency, there is a Currency Conversion fee of 2.5% that is taken out of the total price as well.Īnother fee that sellers may consider is using the Reverb Bump feature. If the seller and buyer live in different countries, then there is an automatic fee that is 1% of the total sale price. There are several fees that are not optional and apply to international sales. Reverb will either cover the cost of repairs or reimburse you for the price the item was sold for if the item is lost or damaged beyond repair. Safe Shipping is basically an insurance policy in case an item is damaged during shipping. Reverb Safe Shipping, for example, is an optional fee of 1.5-3% depending on the price of the item and distance of shipping. Some of these fees are optional and some are not, depending on individual circumstances. While there are no monthly account fees, listing fees or listing renewal fees on Reverb, there are several other potential fees every seller should be aware of before putting their product on the market. It’s still quite lower than competitors and other marketplaces, which we’ll cover further below. The increased sales fee is obviously controversial, but the bump to 5% isn’t high enough to deter most Reverb sellers from continuing their business on the website. This higher fee is relatively new, up until early August 2020, the sales fee was just 3.5%.
#REVERB LP FEES PLUS#
There is a 5% flat rate sales fee taken off of every purchase, as well as a 2.7% processing fee plus $0.25 charged as well (unless paid with PayPal, which we touch on further below).
#REVERB LP FEES FREE#
It is completely free to put your gear up for sale, and if it does sell then you’ll hopefully make enough money off the sale that you won’t notice the percentage taken out. The good thing about sales fees on Reverb is that you aren’t charged a cent unless you sell your product.
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