Trading on Poshmark has gotten really popular, or I assume it's getting popular because I've been receiving so many Trade inquiries in the past month. Whether you agree with trading or not, it's good to know how to do so just in case you FINALLY see that dress you've been looking for your whole life. This post will go over the risks, how to mitigate risk and how to actually pull off a trade.
- Trading is risky because it's not backed by Poshmark's protection in any way
- Both parties are trading at their own risk
- I personally don't suggest you trade due to too many variables coming into play
How to Mitigate Risk
While there is no sure way to know you won't get screwed over when trading on Poshmark, there are some things that you can do to mitigate the risk.
- Go onto the other person's profile to see if they've ever sold anything. If they have, read the love notes they've received from other buyers if they have any.
- Ask them to take a screenshot of their rating. I wouldn't do a trade with anyone below a 4.5 rating.
- Ask if they have an Instagram or any other social media so you can have more information on who they really are. At this point, people's reputation is on the line.
- This is a tricky one to pull off but the more established account out of the 2 traders should order first and after they've received the item as described, the lesser established account can order their trade item.
- The BEST but most difficult way have a successful trade on your end is to have the person who initiated the trade to send their item first. In other words, you would order from them first and when you receive your order, they can proceed to purchase their trade item.
- I would stay away from trading an item whose cost is something you can't cover just in case things go wrong.
Remember at ANY point where you feel uncomfortable with a trade, just stop and tell them you're no longer interested.
How to Do a Trade
- Discuss with the other party or interest in doing a trade. Conversely, they might be the one that initiates a trade.
- Be clear to each other what item is expected to be shipped on their end and in what condition.
- After you both agree on the items being traded, come to an agreement on when the trade will happen and when the items will be shipped;;
- When it's time to actually purchase the trade items, both parties will drop their item down to $3. I say $3 because that's the lowest price you can list an item at on Poshmark which also means that's also the lowest fee tier.
- After you both make the purchase, promptly ship out the item at the agreed on time.
- When you receive your item, verify it and communicate with the other party about your satisfaction or lack thereof.
These are the basic steps to trading on Poshmark, you and the other party might come up with another method. Again, trading on Poshmark should be done at your own risk so keep your eyes open for any signs of deception on the other party's side.