Buy & Sell Days

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Monthly Buy & Sell Days

We love how the Lucky Sweater community grows and thrives on the magic of trading. We also recognize not everyone may have items to trade, especially within the slow fashion space. Sometimes, our bodies change, making 1:1 trades not doable. At times, we might simply wish to pare down our closets without seeking anything in return. Or perhaps, we've had our eyes on a "unicorn" that just doesn’t make for a great trade match with anything currently in our closets.

For these reasons, and also thanks to your feedback in our recent surveys and roundtables and the huge interest we've seen across the community since the last Buy & Sell Days event, we're excited to mindfully incorporate buying and selling during our Buy & Sell Days a monthly event!

FAQs

What are Buy & Sell Days?

We love that Lucky Sweater thrives on the magic of trading, but we know that sometimes you might not have something to swap, or you’re just starting out on your clothing journey. That’s where Buy & Sell Days come in! During these special events, you can browse and purchase items that are marked for sale by other community members, giving you more ways to refresh your wardrobe sustainably.

When are Buy & Sell Days?

Buy & Sell Days happen regularly on the last Friday to Tuesday of every month, giving you plenty of opportunities to shop secondhand and discover new treasures.

Who can participate in Buy & Sell Days?

Currently, Buy & Sell Days are open to community members based in the U.S. and Canada. This allows participants in both countries to buy and sell items with ease. For Canadian users, we’ve made improvements like better shipping rates through PirateShip’s Simple Export Rates to make cross-border transactions more affordable.We’re always listening to feedback and hope to expand to more regions in the future!

How does this impact trading?

The introduction of Buy & Sell Days won't affect our regular trade days. Items listed for sale can be bought or sold exclusively during these specific event times. You'll find additional options when listing an item to mark its available as "Open to selling", where you will also set a price. Please note, item descriptions should continue to focus on the item details and not include selling information outside of Buy & Sell Days.

You should not message any member about buying an item that is not explicitly listed for sale, or on days other than buy and sell days. This hurts the trade and community ethos. In addition, as we launch buying and selling events, soliciting people to pay outside of the platform is also not allowed. We want to make sure all transactions are safe and trusting, and we are able to do that via Stripe, our support, and our protection processes.

Can I continue to add items to the event even after it starts?

Yes! Unlike the Swap Drops, you can add items to sell before and during the live Buy & Sell Days event, up until the end of the event. However, the earlier you list an item, the more people in the event will see it and have a chance to purchase!

How do I list items for sale?

If you're a US-based member, you can list your items for our Buy & Sell Days by first setting up a seller profile with Stripe for secure payments. Here's how:

Go to your profile in the app.
Tap "..." on the top right corner and then "Edit profile and seller information" from the options sheet.
Scroll to the "Seller profile" section, and follow the steps to create your Lucky Sweater Stripe seller account.
After your seller profile is active, open an existing item listing, or create a new one and set the "Open to selling" option in the "Item availability" section as "Ys" for items you'd like to sell.
Set your sale price and estimated package size, which is used to estimate shipping costs for the buyer.

Remember, this option is only active during Buy & Sell Days; it’s back to trading on other days!

If I was a seller at the last event, will my seller account be set up already? Will my items already be listed?

If you had a seller account set up for our last event, no need to set it up again! All items you previously listed for sale, that are still available, will continue to be listed for sale too!

How does the event work for Canadians?

We’re thrilled to include our Canadian users in monthly Buy & Sell Days!
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For Canadian Buyers: When you’re ready to check out and purchase an item from the event, you’ll see the estimated price in CAD during the checkout process. The final charge will also be in CAD, making it easy to know exactly what you’ll pay.

‍For Canadian Sellers: To get started, Canadian users are invited to set up a Stripe Connect account. Once your Stripe account is confirmed, you can list items in your closet for sale. For this event, please specify the cost of your item in USD. When an item is purchased, you will see the total amount you’ll receive in CAD, and Stripe will pay out to your connected bank account in your local currency. You’ll also need to fill out any necessary customs forms to ensure smooth cross-border transactions. And don’t forget to check the "How does shipping work?" section for more details about our new estimated shipping feature!

How does shipping work?

When purchasing an item, the buyer will pay for the cost of shipping.

In our second pilot of Buy & Sell Days, we’ve made shipping more flexible and sustainable based on key community feedback. Instead of being required to use USPS prepaid mailers, you can now use your own packaging materials. We are committed to using USPS for all shipments to ensure fair rates, insurance coverage, and reasonable prices for deliveries.
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‍Here's how it works:

Express Your Shipping Preferences: When purchasing an item, you can choose your preferred shipping option based on an estimated shipping cost. Options include the cheapest rate, fastest rate, and more.
Estimated Shipping Cost: The estimated shipping cost is calculated based on the distance between the buyer and seller and the estimated item weight provided by the seller. This gives you a rough idea of the shipping cost before finalizing the purchase.
Temporary Hold: We place a temporary hold on your purchase using the maximum estimated shipping price based on your selected preference.
Final Shipping Cost: Once the seller has packed the item and entered the package details, we finalize the shipping cost-- If the final amount is lower: We charge the lower amount to your credit card once the label is created. If the final amount is higher: We charge the original authorization amount plus an additional charge for the difference in shipping cost.

Your final shipping charge will be based on the actual package details provided by the seller. You’ll see the final amount on your credit card and via email once the label is created and the item is ready to ship. This new shipping feature enhances flexibility and sustainability, making the process more adaptable and eco-friendly.

Cross-Border Shipping: When purchasing an item from the U.S. to Canada, items under 4 lbs will be eligible for Pirate Ship Simple Export Rates, which automatically handle customs forms and tariffs for you. This service provides an affordable, hassle-free shipping experience. If Pirate Ship’s Simple Export Rate isn’t available for your item, we’ll fall back to Canada Post to ensure fair rates and reliable delivery for your order.

Thank you for your feedback and continued support as we strive to enhance your trading experience! Please keep the feedback coming.

How do the fees work for non-Sustainer 🍀 members?

Continuing our mindful consumption ethos, we will split fees between buyers and sellers, helping both parties reduce the full cost, the community supporting the community. Trades will also continue to be fee-free to keep trading at the heart of the app.

A selling fee of 7%, with a $2.50 minimum, will be deducted from seller earnings, along with a 2.9% + 30 cents processing fee, of the sale total, including shipping and tax, that goes directly to Stripe, our payment provider.

For buyers, a 7% buyer protection fee will be added, with a $2.50 minimum. Buyers will also pay for shipping and any sales tax. Tax amounts vary state by state.

How do the fees work for Sustainer 🍀 members?

As a thank you for all their support, Sustainers get a huge fee discount! The Sustainer selling fee is 4%, and the buyer protection fee is 4%. There is also a minimum of only $1.50 for buyer and seller fees.

Learn more about all the Sustainer member benefits!

How will I receive my earnings as a seller?

Once the buyer receives your item, they have 3 days to accept it. After they accept—or if 3 days pass without action—your earnings will be automatically deposited into your Stripe account.

When you sign up as a seller, you'll be prompted to connect a bank account or debit card to receive your payouts. You can withdraw your balance to your connected account anytime.

To access your Stripe account, go to your profile, tap the cog icon in the top right, select Seller Profile Information, and scroll down to find the Stripe account link.

How does sales tax work?

Several states have passed laws requiring marketplace facilitators like Lucky Sweater to collect and remit sales tax for transactions made by third-party sellers once sales exceed certain thresholds in that state.

Lucky Sweater will automatically calculate, collect, and remit state and local sales tax on the seller's behalf, as applicable, on a regular basis. The sales tax collection is not deducted from your seller earnings; instead, it is included in the buyer's total order cost.

Do I need to file taxes/fill out a 1099-K tax form as a seller?

Please consult your state tax laws and the latest IRS guidelines regarding sales on third-party platforms. If your sales exceed $5,000, tax forms may be required and will be accessible through your Stripe seller account.
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For For IRS guidelines and more, read here for more information.

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