Rebag adds 'revolutionary' new consignment option
Rebag is giving consumers who sell goods on its platform a new option designed to maximize their earnings.
The luxury resale retailer is expanding the services it offers by launching a new consignment model that provide sellers with upfront quotes, pre-approved payouts, fixed commission rates and quick payments. According to Rebag, the new offering eliminates the ambiguous payment options, fluctuating commission rates and lengthy payment processes typically associated with consignment.
To receive an upfront quote, sellers can either submit images or use Rebag’s Clair artificial intelligence (AI)-based image recognition technology to self-generate their offer and determining the fair value of their item before sending it in for evaluation.
"We're thrilled to introduce Rebag Consignment, a truly revolutionary offering,” said Charles Gorra, CEO & founder of Rebag. “Our groundbreaking version of Consignment comes with disruptive features that are differentiated from others in the market. It is designed for sellers who want to maximize earnings, while retaining visibility and control over the entire selling process. This launch marks our latest step in reshaping the luxury resale market by offering innovative solutions and exceptional service."
In addition to the Rebag Trade feature (which allows customers to buy and sell items in a single, combined transaction) and the Buyout feature (which offers sellers a price from the company), sellers will now see the new Consign offer. With this option, sellers can pre-approve their payout range, guaranteeing Rebag will not sell their item for a price that would generate a payout below the lowest end of their agreed upon range.
In addition to offering commission rates for all sellers and items as low as 8%, Rebag’s commission rates will be fixed, so that regardless of an item’s selling price, their rate will not change.
Consignors can also utilize Rebag’s Premium Payouts offering, where a seller’s proceeds automatically increase by 1% per month for up to 12 months, generating up to 12% in bonus payouts. Proceeds are automatically deposited 15 days after an item is sold.
Rebag opens up new offerings
In the past year, Rebag has launched an array of new features and services. In addition to the Rebag Trade and Premium Payout features, these include a service called Auction. Every week, Rebag lists over 2,000 new items in two Rebag Auction cycles.
And in December 2022, the company introduced Rebag Wallet, a tool that centralizes seller payouts, known as Seller Funds, as well as any additional Rebag proceeds.
Once Rebag fully processes a seller transaction, Seller Funds, along with any available credit or rewards points, will be stored in a new section of a user's online account called Wallet. By looking in their Wallet, users can determine the dollar amount available to be put towards a purchase.
"We're thrilled to introduce Rebag Consignment, a truly revolutionary offering,” said Charles Gorra, CEO & founder of Rebag. “Our groundbreaking version of Consignment comes with disruptive features that are differentiated from others in the market. It is designed for sellers who want to maximize earnings, while retaining visibility and control over the entire selling process. This launch marks our latest step in reshaping the luxury resale market by offering innovative solutions and exceptional service."
Founded by Charles Gorra in 2014, digitally native Rebag has opened retail locations in New York, Los Angeles and Florida.