Reverb Warning

bruce919

bruce919

Well-known member
Supporter
Reverb is not paying out sales at the moment. Reading a few other message boards this has been going on since the end of last week. If you have any listing you may want to put them in vacation mode. The web site & app only seem to be partially working at the moment. The larger audience you could get with Reverb it all it really had left going for it. The fees are crazy.

 
Etsy had a bunch of money in Silicon Valley Bank, apparently how it paid its sellers was through that account. Since Etsy owns Reverb, makes sense that it would happen there too.

It will all get unfrozen at some point, likely fairly soon, but for individuals that depend on those sites for regular income it's probably unpleasant.

 
Ouch!

Thank you. I was just about to list my PAC812.

More bank shenanigans?

 
Posts were not up when I tried looking something up this morning. Seems to be working now.

No idea on their payments processing......And no desire to find out.

 
Barely dodged that bullet when I sold my Jackson RR24 3 weeks ago. I got paid 2 weeks ago and then this week... BOOM!

 
diablo175 said:
Barely dodged that bullet when I sold my Jackson RR24 3 weeks ago. I got paid 2 weeks ago and then this week... BOOM!
Click to expand...
They seriously took a week to send your payment? How do you even suppose to ship the guitar without actually getting paid?

 
JustKid said:
They seriously took a week to send your payment? How do you even suppose to ship the guitar without actually getting paid?
Click to expand...
It's  fubar situation for sure. Basically, you have to have proof (tracking number) of it shipping before they release the payment and then it can take up to 3 business days to show up in your account. It's bullshit.

 
no the issue has not been resolved, no payouts given yet. they are stalling out the payouts with boiler plate policy .

 
bruce919 said:
The larger audience you could get with Reverb it all it really had left going for it. The fees are crazy.
Click to expand...
From what I can tell, reverb fees are and have been 5% for quite a while, payment processing is the standard 3-ish%. Look, I don't like paying these fees more than anyone else, but I don't know how you can describe that as "crazy".

bruce919 said:
no the issue has not been resolved, no payouts given yet. they are stalling out the payouts with boiler plate policy .
Click to expand...
You know this because you personally have a payment being stalled beyond their normal payout schedule (after confirmation of shipping)? Or are you just hearing other people complain on message boards?

I'm no Reverb apologist and I would always much rather deal with someone direct. But my experience with Reverb over 10 years has been universally positive in that they have always charged me exactly what I've agreed to and transferred my earnings in a timely fashion. I haven't sold anything in the last week, so I can't speak to the current situation. But I do have several listing up, so am interested in what is really happening.

 
diablo175 said:
It's  fubar situation for sure. Basically, you have to have proof (tracking number) of it shipping before they release the payment and then it can take up to 3 business days to show up in your account. It's bullshit.
Click to expand...
How is this bullshit? This has been their policy for years now. When I sell something, I pack it up and add tracking. They release earnings either that day (if it's early enough in the day) or the next business day. Funds are generally in my account the next day after release (this has nothing to do with Reverb, it's the ACH banking system, and some banks take a little longer to post). For me, this process has transpired, without fail, on every sale I've made. I'm not saying that something is off kilter now, but I see no issue with their payment process.

 
currypowder said:
You know this because you personally have a payment being stalled beyond their normal payout schedule (after confirmation of shipping)? Or are you just hearing other people complain on message boards?
Click to expand...
I have many sales in the past year, never had to wait this long for a payment. Following the process it always worked like clock work. Something has changed in the last two weeks with the payouts. so I experiencing it first hand. There customer service just keeps giving the same answer, will not commit to a time when I will be paid. 

 
currypowder said:
How is this bullshit? This has been their policy for years now. When I sell something, I pack it up and add tracking. They release earnings either that day (if it's early enough in the day) or the next business day. Funds are generally in my account the next day after release (this has nothing to do with Reverb, it's the ACH banking system, and some banks take a little longer to post). For me, this process has transpired, without fail, on every sale I've made. I'm not saying that something is off kilter now, but I see no issue with their payment process.
Click to expand...
Well aware of their policy. Not my first rodeo there... and it has changed in recent years. It does take longer whether it's ACH banking system delays or Reverbs policy revisions. I never had to wait this long for payouts.

 It is bullshit when you compare it to more direct forms of selling, like on here. I get that it's a different animal given the familiarity on here and the comparative scope of transactions. Moreover, I know it's done to help protect buyers from unscrupulous sellers/scam artists.  But the point was made and I think there's some validity to it- the funds from the sale often are used to pay for the shipping. Particularly useful in this day and age of $100+ costs to ship. Might not mean anything to folks from my current demographic. Enough discretionary income to pay for it without the funds from the sale. But I remember all too clearly, in my early years of buying/selling guitars, not having the funds to ship a guitar unless I wanted to be late with the rent or forego a spaghetti dinner for another bowl of cereal.

 
Last edited by a moderator:
bruce919 said:
I have many sales in the past year, never had to wait this long for a payment. Following the process it always worked like clock work. Something has changed in the last two weeks with the payouts. so I experiencing it first hand. There customer service just keeps giving the same answer, will not commit to a time when I will be paid. 
Click to expand...
Gotcha. Then I guess I'll be keeping a close eye on the issue. Thanks for the update.

 
diablo175 said:
Well aware of their policy. Not my first rodeo there... and it has changed in recent years. It does take longer whether it's ACH banking system delays or Reverbs policy revisions. I never had to wait this long for payouts.

 It is bullshit when you compare it to more direct forms of selling, like on here. I get that it's a different animal given the familiarity on here and the comparative scope of transactions. Moreover, I know it's done to help protect buyers from unscrupulous sellers/scam artists.  But the point was made and I think there's some validity to it- the funds from the sale often are used to pay for the shipping. Particularly useful in this day and age of $100+ costs to ship. Might not mean anything to folks from my current demographic. Enough discretionary income to pay for it without the funds from the sale. But I remember all too clearly, in my early years of buying/selling guitars, not having the funds to ship a guitar unless I wanted to be late with the rent or forego a spaghetti dinner for another bowl of cereal.
Click to expand...
I agree totally. We're very lucky around here to be able to deal directly with each other without all of the fee drag.

 
Just an FYI, I sold a small GK bass amp on Reverb on Monday, shipped it, and the funds just got paid out.

So no issues doing business with them at this point.

 
robberns said:
Just an FYI, I sold a small GK bass amp on Reverb on Monday, shipped it, and the funds just got paid out.

So no issues doing business with them at this point.
Click to expand...
WTF . I am still waiting for the payout on an item I shipped out. 

 
You must log in or register to reply here.
Back
Top