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. 
      1. Determine prior sell prices on your item (GSiQ, and other tools will be available to assist you very soon)
  4. Decide on the “Zones” in which you wish to sell, and the shipping methods you want to utilize: 
    1. Request Quote – (the only option currently available, others will become available soon) simply provides a button to the buyer on the checkout page to click. When they do so, this submits that request to you for a shipping quote. You will want to respond quickly! 
  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, see below for a breakdown.

GearSource currently offers 3 Seller levels:

  1. Standard (Default) — the Standard level, which applies to 90% of our Sellers, is 10% of the total sale (excluding shipping, fees & taxes).  This level applies to most sellers with GMS*  up to $250,000 annually (calculated quarterly), and below the minimum level of order frequency, and the required minimum listings volume. 
  2. High Volume — Volume level is 7% of the total sale (excluding shipping, fees & taxes). This level is offered to sellers who maintain fifty(50)+ active listings at all times, have GMS* sales above $250,000 (calculated quarterly) and four(4) or more completed orders per calendar year. 
  3. MDR/SOR — MDR = Manufacturer/Dealer/Representative and SOR = Seller of Record. The fees for these accounts are generally 15% of the total sale (excluding shipping, fees & taxes). This level is specifically for sellers who can not sell direct or who are unable to manage either listings or orders themselves. This fee may change depending on the service required and the volume of listings needing management. 

 

Contact your Seller Program team for more details on the Seller Levels.

Level 1 and 2 must be able to monitor and manage their own listings and orders, including their own quoting and booking of shipping.  All Sellers must have a GearSource Payments account connected. 

Additional fees:

  • Payment Processing Fee** — a 3% payment processing fee is charged for all orders, no matter what seller level. The payment processing fee, which is based on the total amount of the order, “including” the items, the service fees, shipping, and taxes. This fee covers address verification, fraud protection, credit card processing, transfer fees, payout fees and more. This amount is deducted from the seller’s payout amount. As long as the Seller has an active GearSource Payments account connected, no additional fees are charged. If Seller has not connected a GearSource Payments account, additional fees will apply***. 
  • GearSource Logistics Services — 5% will be added to existing fees, depending on location and services required. GearSource Logistics Services provides sellers with complete logistics services, both domestically and internationally, and can be added to any of the above levels.  
How DO I get paid?

First, connect your listings account with GearSource Payments. This allows you to safely accept the most popular payment methods and have the funds direct-deposited into your account as soon as delivery has been confirmed. You will set-up your bank information and will be able to manage withdrawals from your own Seller Dashboard. All Payouts will be minus our fees associated with selling and the Payment Processing fees. 

Start by activating your GearSource Payments account***:

  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.

See GearSource Payments for more details.   

What currencies are supported?

Buyers can make payments using most major credit/debit cards, Apple Pay, wire or ACH (US only) — 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 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. GearSource is not responsible for additional service charges, fees or currency fluctuations assessed by your bank. 

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 successfully shipped and 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 Payments 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 met the thresholds set-up for your account. 

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 Payments 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 happens if a Buyer has initiated a chargeback? 

Chargebacks are an unpleasant reality. One way to avoid chargebacks is to ensure you do not mislead buyers as to what they will be receiving and to ensure the process goes as smoothly and quickly as possible. Happy buyers rarely initiate chargebacks.

If there is a chargeback, our Dispute Resolution Team will compile the necessary information to allow us to file the required response for the disputed charge with the credit card company, on your behalf. However, you (the Seller) are responsible for this transaction. It’s important you work with our Dispute Resolution team to resolve the situation quickly. If we do not win the Dispute on your behalf, you will be required to return any funds you were paid to cover the amount the credit card company will reverse from the GearSource Payments account to return to their customer.

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?

Not really. 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 longer, 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 and paid.  

 

* GMS = Gross Merchandise Sales

** GearSource Payments is powered by Stripe, a global provider of payment processing software and application programming interfaces (APIs) for e-commerce marketplaces, such as GearSource.com, DoorDash, Booking.com, Instacart and MANY more.  

*** If you choose not to connect your GearSource Payments account, all of your transactions requiring manual payout will be charged an additional Manual Payment service charge of “minimum” $45 per transaction. In addition, Sellers who refuse to connect to the GearSource Payments system should expect delays in their payout of up to 10 business days from delivery to the buyer. GearSource is not responsible for additional service charges, fees or currency fluctuations assessed by Stripe or by the recipient’s bank.