Reply from Geartrade.comMar 5, 2024
We have a section dedicated to Pricing in our Consignment Terms of Service here: https://www.geartrade.com/consignment-terms-of-service
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: https://www.geartrade.com/consignment/active-items
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.