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3 On Your Side: Buy/Sell Clothing Using Tradesy

By Jim Donovan

PHILADELPHIA (CBS) - How would you like to make some money from the clothes you don't wear anymore? Or do you have designer taste but not the income?  Well 3-On Your Side Consumer Reporter Jim Donovan tells us about a new online consignment store that just might be for you.

Jessica Zymik and Dylan Gech are getting married this summer.  Jessica spent seven years as a fashion designer in New York, and is picky when it comes to clothes.

Jessica says, "I've been keeping an eye out for bridesmaids dresses and maid of honor dresses."

Jessica found her bridal shower dress, which she's wearing, on Tradesy.  It's basically an online consignment store featuring gently worn and some new clothes, shoes, accessories and handbags, plus a whole bridal section.

Labels range from the Gap to Louis Vuitton, and prices average 70 percent off retail.

Jessica says, "Definitely I think it's a great way of saving money and getting a name that you like if you're name driven like that."

You'll find things like a $150 J.Crew dress for $53, a strapless number from Anthropologie originally $298 now $47 or a Coach purse from $238 down to $49.  There's even a $30 and under section where a Cole Hahn $100 purse was priced at $30.

Jessica's gone from being a Tradesy buyer to a seller too, selling boots, a jacket and jeans.

She says, "Definitely looking to make some money back for what I paid, but also looking to kinda find them a good home and someone that would appreciate it, the name, mainly."

Tradesy's founder and CEO, Tracy Dinunzio, says lots of women want to turn what's in their closet into cash.

According to Tracy, "The response has been amazing we have over a quarter million women buying and selling on the site in just six months."

Here's how it works:  You take pictures of what you want to sell and write a detailed description of the item and then after uploading everything, Tradesy gives you a suggested price which includes shipping.  They clean up the photo to give it a more professional look and once the item sells, Tradesy sends you the pre-paid envelope.  You just pack it up and mail it.

"When you sell something, Tradesy take a 9 percent commission, you keep 91 percent of the sale price so that really beats consignment or anything else," says Tracy.

Sellers are paid for items through a Pay Pal account and Tradesy also allows you return anything you buy for a full refund or credit, except for items in their weddings category.

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