What the Tech: App of the day ‘WhatNot’
If you’re looking for a side-hustle to help pay for Christmas, the smartphone app “Whatnot” is becoming a popular way to make fast money on things you already have around the house.
Part eBay and part Snapchat, the app blends live video with online auctions so sellers can show off items in real time while buyers bid instantly.
The biggest draw is how simple it is to start. After approval, sellers go live from their phones and show whatever they want to sell. It can be trading cards, toys, video games, sneakers, clothing, knick-knacks, and collectibles.
Buyers watch the stream, place bids, and the highest bidder wins.
When an item sells, Whatnot automatically creates a prepaid shipping label for the seller who can then print the label, pack the item, and drop it off at the post office.
Buyers usually pay for shipping, while sellers keep the sales amount minus Whatnot’s commission and payment processing fees. That comes out to about 13% for most sales. So on an item that sells for $100, the seller keeps about $87.
It’s become a quick way to earn extra holiday money. Some sellers report making several hundred dollars a week. A majority make more by running regular live shows. I’ve watched people selling their record collection one album at a time. Another walks around a booth at a flea market selling what may not find a buyer who’s actually there.
Others walk around their storage room, showing and describing items. It’s like having a yard sale without pulling everything into the driveway.
The energy of a live auction helps items sell faster than traditional listings and makes the entire process feel more like a game than a job.
There are a few things to consider. You must be approved to so become a seller, which can take time. And there are complaints from some new sellers that it is hard to get noticed since the app is growing so fast. And shipping is a bit of a chore.
Big items are best listed on Facebook Marketplace for local pickup, but for smaller items, clothing, and collectibles, Whatnot might be worth checking out. For selling and buying.
