What Are The Pros And Cons of Whatnot?

Whether or not you are new to the resale business, live selling on Whatnot is a completely different experience compared to listing on Poshmark. Personally, I'm new to the platform and it did take me a while to get comfortable in front of the camera. After to all, you're livestreaming your sales to an audience of eager buyers. People come to Whatnot ready to spend money, however, there are a few important things to know before you jump into live selling head first.

What Is Whatnot, and How Does Live Selling Work?

Whatnot is a live selling platform that offers resellers the opportunity to turn a profit. Initially, it started off as mostly collectible coins, sports cards, etc., but has evolved quite a bit in the past couple years. It is getting more competitive and saturated. You need to be ready to sell specific products to a particular niche in order to gain a following. Basically, buyers have to bid during a live auction, and depending on how the host sets up their show, they can win high-end items for a fraction of their retail cost.

Getting Started Live Selling on Whatnot

There are a few things you need to do before you start live selling auctions to the public. Here's a quick breakdown on how to get started on Whatnot:

Apply to Become a Seller

You’ll need to fill out an application and provide some details about what you plan to sell. Approval isn’t instant, so don’t expect to jump on the app and start selling the same day.

Set Up Your Show

Once approved, you schedule live auctions, create listings for your items, and prepare to entertain your audience.

Pro Tip: Setup your live show ahead of time to ensure buyers can check out what you're selling beforehand. You could even get pre-bids on items, which means they've sold before you even start your show.

Go Live

During your live show, you’ll interact with buyers, showcase your items, and run auctions in real time.

Pro Tip: Remember to breathe and be confident in yourself. Buyers will notice a lack in confidence and withhold from making their first purchase.

Ship Your Sales

After your show, Whatnot generates shipping labels for you. All you need to do is package up your items and send them off.

Pro Tip: Always try your best to get your orders shipped out immediately if possible. Whatnot tracks your average ship time and sometimes they'll hold funds if you're taking too long.

The Pros of Live Selling on Whatnot

Of course, live selling has its obvious benefits, however, we're going to address why you should sell on Whatnot first. Here's the benefits of selling on Whatnot:

Real-Time Interaction with Buyers

One of the biggest perks of live selling on Whatnot is the personal connection you can build with your audience. Unlike traditional platforms, live selling lets you engage directly with buyers, answer questions, and even hype up your items. It’s like running your own live TV show… but from your living room.

Quick Sales

Items can sell in minutes (or even seconds) during a live auction. If you’re used to waiting weeks for something to move on eBay, this instant gratification can feel like a dream.

Fun and Energetic Atmosphere

The live shows are high-energy, and when you’ve got a good crowd, it can be an absolute blast. Plus, there’s something addictively fun about running auctions and seeing people bid.

Easy Shipping Process

Whatnot takes a lot of the headache out of shipping. After the auction, the platform automatically generates shipping labels based on the buyer’s information. All you have to do is pack your items, slap on the label, and drop them off.

The Cons of Live Selling on Whatnot

Like a coin toss, there's always a flipside. Here are the cons of selling on Whatnot:

The Learning Curve

If you’ve never hosted a live show before, prepare for a bit of trial and error. Talking to an audience, managing bids, and keeping the energy up isn’t as easy as it looks. Your first few shows might feel awkward, and that’s okay.

Selling Fees

Whatnot charges a 10% selling fee plus a 2.9% + $0.30 payment processing fee per transaction. While this is competitive compared to some platforms, it does eat into your profit margin, especially on lower-priced items.

Competition

The app is growing fast, which means more sellers and more competition. Standing out requires effort, strategy, and a bit of charisma.

Time-Consuming

Running a live show isn’t passive. It requires planning, energy, and a decent chunk of your day. And after the show, you still have to package and ship everything.

What to Expect as a New Live Selling Reseller on Whatnot

First off, don’t expect to make a killing right out of the gate. Building a following takes time. In the beginning, your shows might feel like shouting into the void, but don’t get discouraged. Consistency is key.

Be prepared to:

• Promote Your Shows: Use social media to let people know when you’ll be live. The more people in your audience, the better your chances of making sales.
• Experiment: Play around with different formats, starting prices, and show times to see what works best for your audience.
• Invest in Equipment: While you don’t need a professional studio, decent lighting and a good phone stand can make a big difference in how your items are presented.

Hosting a Live Selling Show on Whatnot: Tips for Success

• Be Entertaining: People come for the items but stay for the personality. Be yourself, crack jokes, and keep the energy up.
• Prepare Ahead of Time: Create a list of the items you’re selling, their starting prices, and any key details. This will help your show run smoothly.
• Engage with Your Audience: Acknowledge comments, answer questions, and make your viewers feel seen. The more engaged they are, the more likely they are to bid.
• Start Small: Don’t try to sell 100 items in your first show. Start with 10-20 items to get a feel for the process.
• Promote Like Crazy: Post about your show on Instagram, TikTok, Facebook, and anywhere else your audience hangs out.
• Offer Deals: Everyone loves a good deal. Consider starting some items at $1 to generate excitement and bidding wars.

The Bottom Line: Is Whatnot Worth It?

If you’re willing to put in the effort, live selling on Whatnot can be well worth it. It’s not a get-rich-quick scheme, but it offers a unique, interactive way to connect with buyers and move inventory quickly. Just be prepared for a bit of a learning curve and don’t expect overnight success.

So, if you’ve got some charisma, a knack for sales, and the patience to build your audience, give Whatnot a shot. And hey, even if your first few shows are a flop, at least you’ll have some good stories to tell.

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