Imagine you’re finally thumbing through the junk in the attic (after your wife told you for the tenth time) and you come to the conclusion there’s enough stuff to, say, start a yard sale. You put in the work moving the boxes, setting up the tables and displaying the items.
You set up shop outside, preferably in the shade, and you make it known on social media you’re selling stuff. And then no one shows up, nor does anyone walking by even bother to browse your junk. Why not sell it on Letgo? Are you charged a fee for posting?
What is Letgo?
Letgo is the aforementioned yard sale, but as an app. Rather than sit out in the hot sun, attracting no one to your yard sale, you can simply take a few pictures of an individual item, described the object (you don’t have to), and then post your items for sale. Your item is then added to the list of items for sale within your area and anyone using the app will see it. That’s it. There’s no mystery, no pageantry, and for a low, low price of $0.00 you, too, can use the Letgo app to sell all your unwanted mixtapes you thought were fire.
And yes, you did read that right. Letgo is completely free. It doesn’t charge you for posting your belongings, nor will it take a slice–a commission–of your sale. You’re probably hearing a record scratch in your head, but it’s totally understandable to be skeptical of quite a good deal. No cost to you? Sounds like a fantasy, right? How is that even possible?
Where Does the Money Come From?
If you were to bring up Letgo’s market capitalization, you’ll notice that they, indeed, made money on a platform that is deemed “free.” But how? Well, most of Letgo’s infrastructure is built on selling shares and collecting funds from any investors willing to cough up the dough. Any money Letgo makes by themselves is through an optional fee called a “bump.”
You might be thinking, “I thought Letgo was free?” And it still is. Bumping is entirely optional and doesn’t impact the way you sell your items. You could use Letgo every single day for the rest of your life (provided Letgo stayed the same) and you wouldn’t have to spend a single cent on it. However, if you’ve ever visited an e-marketplace like, say, Facebook, you’ll see dozens of posts with individuals commenting, “bump.” Those individuals are manipulating Facebook’s algorithm by commenting, which forces the post to the forefront of the e-marketplace’s feed. It’s a way of drawing attention to a post, especially if it’s old.
You see, Letgo has a lot of people selling their stuff and your item could potentially get drowned in the sea of junk that other people are selling. By choosing to “bump” your post for $1.99, you could bypass that and force your item to the forefront and possibly get your item sold faster. But that’s the keyword: possibly. It isn’t guaranteed that you’ll sell you item, but if you’re trying to get rid of something that has a hefty value behind it, it’s worth considering.
So, it’s free?
Yes, Letgo is still free; you won’t even see ads. You won’t get double-crossed by them asking for a commission, nor will they charge you for posting your ad. You post your belongings, someone buys them and you pocket all the cash. So, what are you waiting for? Start letting go of some of your stuff.