This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

RealReal Trades in Last Year's Fashions for Cash

SAN DIEGO (TheStreet) -- Look at your closet. Do you have any of last season's Chanel, Prada or Gucci collecting dust?

Now look again, but this time picture dollar signs., a consignment website for luxury goods, will happily take those designer dresses, shoes or handbags off your hands, resell them and turn your pricey but oh-so-outdated fashions into cold, hard cash.

"All of a sudden the things you have in your closet, you have liquidity for. People sometimes get thousands of dollars," says Julie Wainwright, CEO and founder of TheRealReal, a site she calls the premier destination for luxury resale.

Created about three years ago, TheRealReal is designed to give eBay a run for its money in luxury goods resale by offering something eBay doesn't: authentication of the luxury items sold on the site.

The RealReal has a full-time staff of authenticators, horologists, licensed gemologists and art curators who inspect and authenticate every high-value item sold on the site, Wainwright says. But that's not the only difference she sees.

"We will pick up stuff in 16 cities. We try to make it really easy," Wainwright says. "If you want to send your items in direct, we will send a prepaid shipping label, and then we do all the work."  

Also see: 4 Lifestyle Apps for the Rich and Famous

TheRealReal pays consigners 60% of the sale price for their goods. Make $7,500 from selling items on the site and your consignment rises to 70% of the sale price.

Nearly 80% of the products on the site sell within the first month, Wainwright says. Payments are made to sellers on the 15th of every month. It's that simple.

It's a model Wainwright says will change the way people look at shopping for luxury goods and the way they look at unwanted luxury items.

If Wainwright is correct, she stands to make a lot of money. There's a substantial market for her to chip away at when it comes to the sale of luxury goods.

"I studied data about eBay. The site sells between $2 billion to $4 billion of luxury goods a year. And they have a lot of trust issues, and they're still able to create a marketplace," says Wainwright, who began her career at Clorox in brand management and  spent 30 years in the tech world, working her way eventually to CEO.

Wainwright found support for her site in research done by Bain & Co. as part of its Luxury Goods Worldwide Market Study, which found that $50 billion worth of luxury goods are shipped into the United States each year.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs