Business ProfileforGeartrade.com

Geartrade has a very vague Pricing Policy that allows them to change your ageed-upon price whenever they want, without notice.I initially agreed to sell a pair of $250 bike shoes on their site for $125. After just over 6 months, they sold the shoes for $37 which netted me just $9.79. At no time did they notify me of any price change. When I reached out to them they said that, "After the initial 30 days of a Consignment item being listed, the price is reduced on a weekly basis to maintain pace with the depreciation of the item."Nowhere is their Pricing Policy does it state such practice. What it does say is, "Geartrade may decrease the price based on market conditions, demand, and seasonality."Although this broad statement questionably covers the aforementioned practice, this is completely misleading. No way would I have agreed to terms that depreciated my shoes by ~14% a month after listing for just 30 days. If this is standard practice for all gear consigned to their site, they should state so clearly. I am very unsatisfied with my experience and although I love recycling gear back into the stream, I assure you that I definitely will never do so with Geartrade again.

We have a section dedicated to Pricing in our Consignment Terms of Service here: *************************************************************** This is also highlighted when users choose to consign with us when requesting a free shipping label.It states:Pricing Listing prices are determined by many factors, including the estimated Retail Price, brand, age, product category, seasonality, and condition of each item. If we cannot find an accurate Retail Price for your property, Geartrade will in its best effort estimate the Retail Price based on other known products or categories.Price Adjustments: Once your item has been accepted, you will receive an email with our suggested price and will have 48 hours to adjust the price. The maximum price adjustment you may make is 80% of the estimated Retail Price set by Geartrade. The price you select will be held for thirty days, at which point: (1) Geartrade may decrease the price to find the optimal selling price based on market conditions, demand, and seasonality. This can be up to 85% off the Retail Price. (2) Geartrade may offer additional discounts and promotions during the Consignment Period, at its sole discretion and without notice to you, to efficiently market and sell the Property (end)We do follow this pricing policy as stated above. The quote from our customer service rep: "to maintain pace with the depreciation of the item." is not correct and I will speak with our team so we convey the pricing policy as stated above.As we reduce the price over time, the price of your item updates in your account and can be viewed on your 'active items' page here: *********************************************************** We strive for transparency throughout our consignment process, and I recognize that we do not email our consignors every time a price is updated. That is something we will discuss internally and let you know when we make any updates here. Thanks for providing your feedback. We take all customer feedback seriously and often make modifications to our experience based on this feedback. Thanks again for your business and understanding.