Selling on Whatnot: A Seller's Perspective

Introduction

• Presenter: Jason from JMax Sports Cards
• Topic: Discussing the pros and cons of selling on the Whatnot platform
• Main Argument: Whatnot is not a good platform for selling, with a few exceptions

General Overview of Whatnot

• Growing platform
• Potential to be a good seller platform

Personal Experience as a Seller

• Challenges faced:
  • Lack of clear guidance or a streamlined process for new sellers
  • Need to figure out processes independently
  • Initial live streams require on-the-fly adjustments
• Audience Requirement:
  • Essential to have an audience for successful sales
  • Larger audiences increase potential selling opportunities

Criticism of Whatnot

Sales Dynamics

• High-pressure sales environment
• Comparison to used car salesmanship
• Buyers expect low prices and use eBay comps to negotiate

Financial Implications

• Whatnot fees comparable to eBay fees
• Buyers want significant discounts
• Selling at a loss is common due to low audience numbers

Platform Culture

• Expectation for sellers to do giveaways
• Buyers often seek steals rather than deals

Positive Aspects of Whatnot

Ideal Scenarios

• Suitable for hobby celebrities or influencers
• Platform can help in brand-building
• Possible tax benefits from giveaways

Successful Use Cases

• Influencers with sponsorships (e.g., Jeff Wilson)
• Potentially profitable for those with brand deals and audience engagement

Conclusion

• Whatnot is more advantageous for buyers
• Sellers can benefit if they have a large following, are influencers, or have bulk inventory to offload
• Provides a platform for branding and sponsorships

Final Thoughts

• Not recommended for average sellers
• More beneficial for influencers and those with a pre-existing audience
• Alternatives like eBay could be more profitable for individual sellers

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