With so many online marketplaces around today, choosing the right platform to start selling things on can be challenging. Do you go the old-school route and choose eBay? What about Poshmark or Depop?
Among the many options available, there’s one marketplace that has been garnering a lot of attention for revolutionizing the way people buy and sell products online, offering a unique blend of social media interaction and real-time auctions. That marketplace is none other than Whatnot.
Whatnot is becoming popular for providing an engaging and dynamic experience for both sellers and buyers, offering live shopping options and traditional still listings. Want to learn more? Then keep reading to find out what Whatnot is and how you can sell on it.
What is Whatnot?
Whatnot is an online marketplace and live-streaming platform where users can buy and sell products through live auctions or listings. Although its main focus was primarily categories like trading cards, toys, and other collectibles, it quickly became a popular place to sell fashion accessories, clothing, sneakers, and other items common in live streaming culture.
It’s pretty young compared to other online marketplaces—it was founded in 2019. One of Whatnot's biggest selling points is its combination of ecommerce and social media, allowing sellers to interact with potential buyers through live auctions, fostering a community-driven environment.
Why Sell on Whatnot?
With 6.2 million monthly visitors on mobile and desktop platforms across the world, selling on Whatnot has many benefits for entrepreneurs looking to reach a vast and engaged audience of collectors and pop-culture enthusiasts. Some of the reasons you should consider selling on Whatnot are:
It offers an interactive live selling experience
Whatnot’s live auction format allows sellers to interact with buyers through live video and chat, creating a dynamic and entertaining shopping experience. Sellers can even receive instant feedback and reactions from viewers, allowing them to adjust their sales strategies on the fly.
Also, the format of live auctions can drive competitive bidding, often resulting in higher sales prices compared to traditional fixed-price listings. You can still make fixed listings, but the platform is based on live auctions, and there’s certainly a community for it (more on this below).
It gives you access to a dedicated community
Whatnot has a strong and active community of collectors across various niches, including trading cards, comics, toys, sneakers, and more. With a network focused on these types of products, you can connect with interested buyers and build a strong community of people specifically interested in what you’re offering.
It has flexible selling options
In addition to live auctions, Whatnot supports various selling formats, including buy-it-now listings and scheduled drops, providing flexibility to suit different selling strategies.
The platform accommodates numerous collectible categories, but it’s not just that. On Whatnot, you can basically sell anything and market yourself through live streams.
And no matter if you're a casual seller or an entrepreneur running a full-scale business, Whatnot supports growth by accommodating varying volumes of sales and inventory sizes. With Whatnot, you can grow a sustainable business in the long run.
It offers a competitive fee structure
Whatnot offers a clear and competitive fee structure, taking an 8% commission on the sold price of an item and a 2.9% + $0.30 payment processing fee for each transaction. It also has a reduced commission rule that applies to Coins & Money, making the commission percentage taken 4% of the sold price of an item.
Considering the range of features and support provided, the benefits and sales potential of Whatnot justify the associated fees. Just think, if you weren’t on Whatnot’s platform, how would you find customers, and are the fees worth not having to find those customers on your own?
It's transactions are fast and efficient
Live auctions offer a quick sales process, facilitating immediate transactions by reducing the time an item spends on the market compared to traditional online listings. Whatnot also offers integrated shipping solutions, simplifying the process of delivering products to buyers promptly and efficiently.
It’s a user-friendly platform
Creating a seller account and setting auctions on Whatnot is straightforward (and we’ll talk more about this later), with intuitive tools and guides that help newcomers start selling. It also provides tools to help organize and track your inventory, making it easier to manage multiple listings and sales.
And as a marketplace based on social media interactivity, it’s no surprise that Whatnot also offers strong mobile accessibility. It's fully optimized for sellers to host auctions and manage their stores conveniently from anywhere.
How Can You Sell on Whatnot?
Selling on Whatnot allows businesses to connect with customers in a live, interactive environment and involves simple steps to get started.
1. Sign up for a seller account
First, you need to create an account by downloading the Whatnot app. The platform has a dedicated website, but the app is the primary tool for sellers. After that, sign up using your email address or link your social accounts for easier registration.
It’s important to know that not everyone can immediately start selling on Whatnot. You’ll need to apply to become a seller by filling out an application. This usually involves providing information such as payment methods and a return shipping address, as well as any additional information you wish to provide (direct links to your social media or your other selling profiles are optional).
Once approved, you may need to go through an onboarding process; you’ll learn how to use the platform, understand the rules, and get tips on running successful live auctions. Whatnot also has guidelines you need to follow, such as not misleading a customer about an item’s value or selling fake items. These are rules you need to follow in any marketplace really, but still essential for a good service.
2. Set up your profile and store
Creating your profile follows the same procedure as on most platforms: add a profile picture, bio, and any relevant information to make your store attractive to potential buyers. When organizing your listings, upload high-quality photos of your products, descriptions, and pricing details for each one in advance.
One cool feature Whatnot has—currently in beta at the time of writing this article—is the option to create video listings for products. These listings function similarly to regular listings on the marketplace, but potential buyers will first see a short video of your product. It’s a great way to showcase your item and give buyers more confidence in their purchase.
3. Schedule and host a live auction
This is the main feature of Whatnot and the reason many buyers go to the platform, so be ready to host live auctions and market your products on the go. You can use social media, email lists, and other channels to promote your auctions since, like live streams on websites like YouTube or Twitch, Whatnot allows you to schedule auctions in advance.
Remember to create a tidy and organized space for displaying your items during the live stream. Some sellers prefer to be on camera while showcasing products such as sneakers or clothing; though ultimately, you can conduct your auctions as you see fit (respecting Whatnot’s guidelines, of course).
4. Fulfill orders and get paid
Once an item is sold, Whatnot will handle the transaction automatically. After the auction, you will receive orders needing to be packed and shipped. The marketplace offers integrated shipping solutions, including discounted or even free shipping labels, which sellers can set in their profiles. Just note that you’ll be responsible for the additional shipping costs if you choose free or discounted shipping for the buyer.
Whatnot processes payments securely. Once the buyer confirms receipt of the item—or a set period has passed without issues—you’ll receive your payment. Payments are usually transferred to you within a few days.
As a social marketplace, in many cases, the quality of your product will be as successful as your presentation of it. After the auction, review your performance by looking at viewer engagement, sales numbers, and any feedback from buyers. You can use this information to improve future auctions and build a solid community of buyers around your online store.
Whatnot’s Top Features
Whatnot offers several standout features that make it a popular marketplace for sellers and buyers, particularly in the collectibles market. Some of the top features include:
- Live auctions: Sellers can host live auctions where buyers bid on items in real-time, often leading to competitive bidding and higher sales prices. The live auction format allows direct interaction between sellers and buyers through live video and chat. Sellers can showcase items, answer questions, and build rapport with their audience.
- Community building: Users can follow their favorite sellers to get notified of upcoming auctions and subscribe to specific categories of interest. During auctions, buyers can communicate with the seller and other participants, building a sense of community and engagement around the auctions.
- Diverse selling formats: Sellers can schedule their auctions in advance, allowing them to promote the event and attract more viewers. In addition, sellers can offer items at fixed prices—on still listings like in other marketplaces—giving buyers the option to purchase immediately without waiting for an auction.
- Secure transactions: Whatnot processes all payments securely through the platform, ensuring that sellers receive their funds once a transaction is completed and confirmed by the buyer.
- Integrated shipping solutions: Whatnot offers integrated shipping solutions with discounted rates for sellers. The platform also provides tracking information for shipments, keeping both buyers and sellers informed throughout the delivery process.
- Analytics and insights: Sellers can access detailed analytics on their auctions, including viewer engagement, sales data, and bidding activity. Also, buyers can leave feedback on their purchases, helping sellers build their reputation and identify areas for improvement.
- Mobile accessibility: Whatnot is primarily a mobile app, making it easy for sellers to manage their auctions, interact with buyers, and track sales from anywhere. Sellers and buyers receive push notifications for auction updates, new listings, and other relevant activities, ensuring they stay informed and engaged.
- Themed events and promotions: Whatnot frequently hosts themed events and promotions that highlight specific categories or celebrate special occasions. Sellers can be featured on Whatnot’s homepage or in category-specific promotions, giving them additional exposure to a broader audience.
- Customizable auctions: Sellers can customize the duration of their auctions, set starting prices, and control the pace of bidding. It’s possible to even pre-load items into an auction catalog, making it easy to manage and present multiple items during a live stream.
- Customer support: Whatnot offers responsive customer support for sellers and buyers, helping them resolve technical issues, disputes, or other concerns quickly and efficiently.
Who is Whatnot For?
Whatnot is designed for a wide range of users, but the main focus is those with an interest in buying and selling collectibles.
Collectors
Passionate enthusiast looking for trading carts, vintage toys, comics, sneakers, or Funko Pop! figures. The platform offers a diverse array of collectibles and is the perfect place for people who simply enjoy connecting with others who share their interest in collector's items.
This marketplace has great potential for building communities that can spread across other platforms, such as Instagram or Discord.
Sellers
Whatnot provides an excellent platform for small business owners and independent sellers who specialize in collectibles, offering them a direct channel to reach a targeted audience and grow their business.
For those who already sell on other marketplaces, Whatnot offers a new avenue to expand their reach with a social media-based approach to selling. The auction format can drive higher engagement and sales compared to traditional ecommerce sites.
Community builders
Whatnot is a great platform for influencers and content creators who want to build a following around their niche and interest, even helping monetize a loyal audience that may follow them to the platform. People who enjoy engaging with others and creating social shopping experiences will thrive on Whatnot because the marketplace encourages interaction and direct engagement.
Bargain hunters
For those who love a good deal (and who doesn't?), Whatnot is a great choice. Buyers looking for the best deals on rare items can take advantage of the auction system since prices vary depending on the competition. And those who just love the thrill of bidding and winning items at auctions will find Whatnot’s live auction format particularly appealing.
And of course, this is a two-way street. Sellers who put an item up for auction may end up selling it for a much higher price than they bought it for. Your income can be high with the right product and the right audience.
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Whatnot Products FAQs
The most frequently asked questions about Whatnot.
What types of products can I sell on Whatnot?
On Whatnot, you can sell a wide variety of products, particularly within the collectibles market. Popular categories include trading cards, vintage toys, comics, sneakers, Funko Pop! figures, and other niche collectibles. The platform also supports apparel, accessories, and other specialty goods.
What do I need to apply to sell on Whatnot?
You’ll need to provide payment methods and a return shipping address, as well as any additional information you wish to provide (direct links to your social media or your other selling profiles are optional).
Why You Should Trust Us
Joe Niehaus is an ecommerce expert and seasoned content writer at Whop. He brings a wealth of experience in overseeing affiliate programs for ecommerce brands and has contributed his knowledge to leading publications like Travel + Leisure, GQ, and Business Insider.
