GearSource

Seller FAQ

New to selling on GearSource?  

How do I become a Seller

It’s easy to start selling on GearSource.com… simply click Add a Listing in the top Navigation bar, fill out the required details and you are ready to get started. Additional set-up will be required in your Seller Dashboard, and you’ll be prompted for that later in case you forget.    

How Does the Listing Process Work? 
  1. Always try to include all relevant information and accurate details concerning age and condition. This will reduce or eliminate unnecessary returns. 
  2. Take and provide excellent, clear and telling photos. Images will help answer questions a buyer may have, and will make the transaction smoother. 
  3. Find the right price: 
    1. Look around the site – what are others listed at? 
    2. What was / is “Dealer Cost” on this item? You should be asking at least 20% below “dealer” in most cases, sometimes much less. 
    3. Use GearSource “GSiQ” to help determine prior sell prices on your item (this, and other tools may not be available at first launch)
  4. Decide on “Zones” in which you wish to sell, and the shipping methods you want to utilize: 
    1. Request Quote – (this is the only option currently available, others will become available soon) simply provides a button to the buyer on the checkout page to click, submitting that request to you, for a shipping quote. Obviously, you will want to respond quickly! 
    2. Free Shipping – you include shipping costs into a particular zone or zones you’ve selected. This will enable item(s) to be sold, without any delay for shipping quotes. 
    3. Flat Rate Shipping – in each zone, you can assign a flat rate for that item in that zone. Again, this allows immediate payment and completion of the order, without quotes. 
    4. Concierge Processing – for a higher seller fee, you will be able to have the GearSource support team manage and process all logistics on your behalf. 
    5. Automate Freight Quoting – this will not be available at launch, but shortly thereafter. Using your weight and dim’s provided, the system will calculate shipping costs within the shopping cart itself. This will allow the order to be completed immediately as well, but takes some control from you. 
  5. Submit your listing(s) for approval. As soon as approved, the listing(s) will be displayed and ready for purchase! 
  6. You can also visit the Listing FAQ page for more advice

 

Does GearSource Charge Seller Fees for a Successful Transaction? 

Yes, GearSource currently offers 3 Tiers for selling:

  1. Tier 1 is our Default – the Seller Fee is 10% of the total sale (excluding shipping & taxes) plus 3% payment fees*. This tier applies to sellers with GMS (gross merchandise sales) volume up to $250,000 annually, and below the minimum level of frequency, currently 4 orders per year. 
  2. Tier 2 fees are 7% of the total sale (excluding shipping & taxes) plus 3% payment fees* and is applicable to sellers with GMS sales above $250,000 and more than 4 orders per year.
  3. Tier 3 fees are 12% of the total sale (excluding shipping & taxes) plus 3% payment fees*. This level is specifically for sellers who require Concierge Service including assistance with freight quoting and logistics. 

 

Tier 1 & 2 must be able to monitor and manage their orders, including quoting shipping.  All Sellers must have a GearSource payments account connected. 

* Payment Processing Fees: ALL transactions are subject to a 3% payment processing fee, which is based on the total amount of the order, “including” taxes and shipping. This covers credit card processing, transfer fees, address verification, fraud protection and more. This amount is deducted from the seller’s payout amount. 

Please note: All transactions settle in US dollars – international or cross-border transactions are subject to a currency conversion fee. See GearSource Payments for more detail.   

How DO I get paid?

First, register your account with GearSource Payments. This allows you to safely accept the most popular payment methods with funds direct-deposited into your account, as soon as delivery has been confirmed. You will set-up your bank information, provide applicable tax certificates and schedule withdrawals. You will manage withdrawals from your own Seller Dashboard and all Payouts will be minus our fees associated with selling, Payment Processing and Withdrawal method/frequency. 

Start by activating your GearSource Payments account (GearSource Payments is managed by the world’s largest and most secure Payment Processor, Stripe):

  1. Head to your Account Center then
  2. Click Seller Dashboard
  3. Click Settings then GearSource Payments 
  4. Click Connect which will take you to a secure registration portal to get you set-up for payments/payouts
  5. In the Connect Portal, you will provide your business/contact information and your bank account information which will be used to create your automatic payouts when sales happen.
  6. Save Changes and click “go back to GearSource”.
  7. You must also ensure you have a billing card on file for purposes of recoupment. Please see the Terms & Conditions/GearSource Payments section for the detailed terms.

 

Note: transactions requiring manual payout, outside of the recommended GearSource Payments, are subject to a Manual Payment service charge of $30 for US payments and $45USD for international, per transaction. GearSource is not responsible for additional service charges or fees charged by a recipient’s bank. 

What currencies are supported?

Buyers can make payments using most major credit/debit cards, Apple Pay and other option will become available over time. Payments can be made “from” numerous currencies. GearSource settles in US dollars and sellers are paid out in the currency of the currency of the country where the bank is located – for example if your bank is in Toronto Canada, you will be paid out in Canadian dollars, converted based on that day’s rate. 

Why do I need to enter tracking information?

Tracking information is required before payouts will be released from your GearSource Payment account for the sale of your listing. The system uses the tracking to determine that an item has been delivered to the buyer and the 48-hour inspection period has expired, before releasing funds. This is an automated process.

How do I enter tracking information?
  1. Again, go to your Account Center/Seller Dashboard/Orders page
  2. Click on Add Tracking Info 
  3. Select the Shipping Provider and enter the Tracking Number
  4. Click Add Tracking
  5. If the item is picked up by the buyer, the date/time of the pick up and the full name of the person doing the pick-up is required.

 

How do I get my money?

Once you have your GearSource Payment account connected, you can initiate withdrawals anytime for order payments once the funds are released. Funds are released “after” they have cleared the banking processes and a valid tracking number indicating the order has been shipped or, in the case of Buyer Pick-up, a pick-up time/date is confirmed. 

Note: your payout funds are accessible by you only… GearSource has no access to sellers’ payout accounts. Depending on your specific bank, payouts may take 3-5 business days (5-7 for international) to appear in your bank account after the withdrawal/payout is initiated. 

If a deposit falls on a weekend or holiday, the payout will be sent on the next business day.

  1. Your first GearSource Payments Sale:  You will receive a notification of your first payout being approved within 5 business days following the delivery of the item according to the tracking information you’ve provided to GearSource. Following that, it may take your bank an additional 1-3 business days to process that deposit.
  2. After your first successful GearSource Payments sale: payouts will be initiated 48 hours after the tracking number confirms the item has been delivered via the carrier. Note: Payout times can vary based on the bank, country, existing feedback ratings, sales volume, Preferred Seller status, price of the item, and shipping destination.

 

 How long does it take to receive my Payout?

Funds are released by the GearSource Payment System after confirmation the order has been delivered and the Payment hold period has expired, generally, 48 hours after tracking confirms an order has been delivered. At that point, the funds are released for Sellers to withdraw. In some cases, this process can be happen faster, however due to variations in bank timelines and transfer times, GearSource doesn’t guarantee a specific timeline. This also depends on how long you’ve been working with GearSource and the frequency of your sales on the platform. 

What if I don’t have a bank account connected?

Your money will simply stay in your Payout Balance until you add a bank account.

Is there any other way to get my money?

No. Payout to your bank account is the only way to withdraw your funds from GearSource.

What if a buyer wants to pay me via PayPal?

Sorry, but a buyer cannot buy through GearSource and pay you directly. This would remove all benefits and protections of selling on GearSource. You should never accept payment outside of our simple and secure GearSource Payments process. 

How long will it take after I sell something to get my money in my bank account?

Once again, depending on your specific bank and location, payouts may take anywhere from 3-5 business days to appear in your bank account after being initiated on GearSource.com. US sellers will see payouts quicker, usually anywhere from 3-5 business days – international is longe, generally 5-7 business days.

Can I use my payout balance to buy items on GearSource.com?

Unfortunately, no. You’ll need to withdraw your payout balance to your bank account before spending it on GearSource.com.

How much does it cost?

It doesn’t cost anything to opt-in to GearSource Payments. Sellers are charged fees only when an order is finalized.  

*Please note: GearSource Payments has partnered with Stripe for payment processing/payouts. Stripe is a VERY secure and widely used system, worldwide. GearSource payments currently settle in US dollars. International transactions that require payout in a different currency will incur an exchange fee.