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.
Melnick declined to speculate about how the new offering would shape Reverb’s direction as a business, but he said he expects it to accelerate the company’s overall growth.The good thing about sales fees on Reverb is that you aren’t charged a cent unless you sell your product. The move will help Reverb expand its addressable market, with the additional benefit of adding a product category in which people make more frequent purchases. The new platform will go live later this year. Melnick said planning for Reverb LP started late last year, and that active development started this spring. “Our curation approach will carry over the same philosophy we have for Reverb, which is marrying machine learning with human editorial voice and control.” “We'll be bringing our same quality standard to content for Reverb LP, but the subject matter allows us to be broader in how we talk about music, which really excites us,” said Melnick. Melnick said the new platform will build on the content and curation model that has helped Reverb make a name for itself in the music gear business. Smashing Pumpkins frontman Billy Corgan will be opening a Reverb store with more than 100 items later this month. This feature is currently used by musicians like Wilco and Black Sabbath drummer Bill Ward to sell used equipment and other collectables. Like, Reverb LP will let sellers build branded online storefronts that are powered by its e-commerce platform. Reverb LP will also be open to other physical music formats. Melnick, who leads strategy for Reverb LP, believes Reverb’s built-in community and experience from the music gear vertical will help it break into the record market. “The demand exists, but the current options for buying and selling records online - whether you run a store or just have a personal obsession, like me - is cumbersome.”įor collectors on the lookout for something special, Reverb LP features advanced search functionalities and the ability to set up an alert when a particular album comes into stock. “This year, new vinyl record sales are expected to see double-digit growth for the seventh year in a row and that doesn’t account for the vast used market,” said COO Dan Melnick in a statement. On Friday, the company announced that it is launching a new e-commerce platform, Reverb LP, for music collectors.
Through its sleek online storefront, careful curation and targeted content strategy, has gone from a scrappy upstart to the world’s largest music gear website in only four years.
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