It verifies their authenticity and consigns them at the right value.
The RealReal earns money primarily from its services of consigning luxury products, managing transactions, and authenticating items.
This fee depends on the item category, the product type (E.g., handbags, jewelry, or sneakers), and the sales price.
Since most of The RealReal’s customers are affluent and dedicated to luxury items, the commission can go up to 60%.
Also, luxury sellers don’t need to go through the hassle of organizing listings and dealing with customer inquiries.
Their consignment fee increases with the buyers’ high level of trust for The RealReal’s experts. The more customers buy from the RealReal, the more willing customers will pay them a greater consignment fee.
Initially, The RealReal official website was supposed to be a membership-only marketplace. But today, the site is available to anyone.
Even though it’s open to everyone, The RealReal still offers First Look and Platinum membership.
At $10/month, the First Look membership gives customers 24-hour advance to sales, advanced waitlist notifications, first-look promotions, and curated luxury sales.
At $30/month, the Platinum membership offers First Look features plus the unlimited choice to upgrade to 2-day shipping.
What do The RealReal reviews say?
In general, The RealReal reviews online are positive.
On Trustpilot, the brand has 4.2 stars based on more than 17,000 reviews (a staggering number!). And on Sitejabber, the site has 4.27 stars based on more than 3,000 reviews.