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What is Whatnot? Everything you need to know
There are plenty of options for buying and selling products online, so any platform needs to find a way to differentiate itself. Whatnot takes another angle, harnessing the success of the popular live video sales method and centralizing it into a hub full of all types of collectors. What is Whatnot all about? We’ll cover everything you need to know about the service, so stick around.
What is Whatnot, and who is it for?
Whatnot is a community marketplace for buyers and sellers. Sounds simple, right? The main differentiator is that all sales are made through live video. This creates a social aspect in which people can interact during the process. In fact, the first time I entered a sale, the host greeted me personally, saying: “What’s up, Sasquatch? Welcome in.”
The website is mainly geared toward the sale of collection items. This includes figurines, toys, trading cards, jewelry, video games, arts & crafts, and whatnot.
How does Whatnot work?
When you sign up for a Whatnot account, you can either become a buyer or a seller. Once you’re ready to go, you must browse through the list of categories, look through the live streams, and join one. The host will talk about the product he’s selling, and geek out over the topic with all the other members.
If you want to purchase any of the items, you can either bid for them or buy them immediately. The options are titled Auction or Buy Now. You can also look through the Sold and Purchased sections to see what you missed.
After a purchase, the seller will ship the product and get paid for it.
What can you sell on Whatnot?
Whatnot is mainly meant for selling and buying collectibles, but the list of supported products is comprehensive. Here’s Whatnot’s official category list.
- Trading Card Games
- Sports Cards
- Toys & Hobbies
- Electronics
- Coins & Money
- Knives & Hunting
- Estate Sales & Storage Units
- Sports Memorabilia
- Men’s Fashion
- Sneakers & Streetwear
- Women’s Fashion
- Bags & Accessories
- Beauty
- Jewelry
- Music
- Video Games
- Antiques and Vintage Decor
- Home & Garden
- Rocks & Crystals
- Baby & Kids
- Arts & Handmade
- Comics
- Anime & Manga
- Golf
- And Whatnot
What are the pros and cons of using Whatnot?
Like any other platform, Whatnot has its good and bad sides. Let’s talk about them.
Pros
It’s fun and interactive!
The art of selling is complex. Simply posting a product on eBay may seem a bit cold and distant. With Whatnot, sellers interact with potential customers and usually have fun while doing so. People can geek out on items and ask questions live. The seller can respond to questions immediately and convince buyers to purchase an item. Additionally, some sellers do fun things like host giveaways, or randomize sales by letting a wheel decide what you win for a set prize.
You can find hard-to-get collectibles
Collectors know how hard it is to find some products. Sometimes, getting specific items from giants like eBay or Amazon is hard. Because Whatnot is full of like-minded fans of the same things, you’re likely to find rare items.
It’s pretty safe
Whatnot acts as a mediator between buyers and sellers. You can do everything from the app to finalize a purchase. Sellers aren’t paid until a product is shipped. There’s also a process for ensuring items are authentic. Chances of fraud or scams are slim.
Cons
There aren’t many people using it
Whatnot is a relatively new service from 2019. As such, it’s obviously not as popular as other marketplaces. The website has been getting 5.9-6.3 million visitors monthly for a few months. That’s nothing compared to the over 595-633 million monthly eBay visitors.
Most people using Whatnot are like-minded individuals with similar hobbies, making each customer and seller more valuable, but numbers still help sell things.
You have to watch to buy
Many of us still feel like watching a livestream to buy things is a bit too much. Sometimes, I don’t want to socialize or listen to someone when I purchase something. Whatnot doesn’t give you this option.
How much are Whatnot fees?
Nothing in life is free, and neither are Whatnot’s services. The company will take an 8% commission on all sales. However, this fee is reduced to 4% for sales in the Coins & Money category. Additionally, the seller will have to cover a transaction fee of 2.9% plus $0.30. This processing fee is applied to the total, including the subtotal, tax, and shipping costs.
How much is shipping?
Shipping prices depend on the product’s weight, and also where you ship the product to and from. If the transaction happens within the USA, packages weighing 1-5 lbs will cost a flat fee of $8.77. Pricing below one pound and over five pounds will vary. You can see US shipping costs here. There are also details on international shipping here.
Want to give it a try?
If you want to try Whatnot, all you have to do is go to the website and sign up for an account. You can also download the Android and iOS apps.
FAQs
Whatnot is a startup founded by Grant LaFontaine and Logan Head. LaFontaine is also the current CEO.
Whatnot’s headquarters is in Marina del Rey, California. It’s part of the Los Angeles area.
Yes. Whatnot takes an 8% fee from every item sold, unless you are selling Coins & Money, in which case the fee is reduced to 4%. Additionally, it charges transaction fees of 2.9% of the total cost and an extra $0.30.
Whatnot doesn’t usually allow returns, because of the nature of most products sold on the platform. These are mainly used and sold as is. There are some exceptions, though. You can get items refunded if they are damaged during shipping, damage doesn’t match listing photos, if you get an incorrect item, if the item has no images and doesn’t match the description, or if the item is counterfeit.
You can request to cancel an order on Whatnot as long as the seller hasn’t printed the order’s shipping label, or within 24 hours after you place the order, even if the label has been printed. That said, all Whatnot sales are final. It’s up to the seller to accept or deny a cancellation request.
Whatnot ships to the USA, Canada, the UK, and most other countries. It will also ship to PO/APO/FPO addresses. This only helps buyers, though. Sellers must be in the US, Canada, Austria, Netherlands, France, Germany, or the UK.