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Thread: Reverb acquired by Etsy...

  1. #1

    Default Reverb acquired by Etsy...

    I had heard through the grapevine that this was coming (the sale of Reverb...not the specific buyer) but it was announced this morning. $275 million cash deal.
    I've used Reverb on the rarest of occasions and never for anything big like an instrument but I have many friends who do...with good and, I suppose, bad luck.
    The fee structures are different for these two companies and I can see some upset folks in the Reverb camp if they start being subject to the Etsy business plan. However, news has stated that Reverb shall remain a standalone business...
    https://reverb.com/ca/news/reverb-to...quired-by-etsy

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  3. #2

    Default Re: Reverb acquired by Etsy...

    Yeah, a standalone business whose new owners are awash in debt accrued by the purchase and right now are needing to maximize profit.
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  4. #3

    Default Re: Reverb acquired by Etsy...

    Quote Originally Posted by Br1ck View Post
    Yeah, a standalone business whose new owners are awash in debt accrued by the purchase and right now are needing to maximize profit.
    I believe Etsy is worth almost 8 billion dollars.....whatever that means.

  5. #4
    Moderator MikeEdgerton's Avatar
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    Default Re: Reverb acquired by Etsy...

    Actually it looks like it might be a fit. I shop Reverb, I've only managed to actually find one item there to buy.
    "Bargain instruments are no bargains if you can't play them". These are the words of J. Garber.

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    Administrator Mandolin Cafe's Avatar
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    Default Re: Reverb acquired by Etsy...

    Does this mean my auntie will be able to sell her crochet doilies on Reverb now?

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    Registered User lflngpicker's Avatar
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    Default Re: Reverb acquired by Etsy...

    I am appreciative of this information. I for one do purchase, and sell instruments and gear on Reverb. It has been a well organized vehicle and dependably excellent in quality when contrasted with Ebay. I am still using both Ebay and Reverb, but most of the success I have had has been on Reverb in recent years. I learned of Reverb through the mandolin cafe. Mandolin wise, I have made all of my important purchases through the Mandolin Cafe Classifieds.

  10. #7
    Mando accumulator allenhopkins's Avatar
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    Default Re: Reverb acquired by Etsy...

    Quote Originally Posted by Mandolin Cafe View Post
    Does this mean my auntie will be able to sell her crochet doilies on Reverb now?
    Not only that, but she'll be able to crochet mandolin straps as well.
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  11. #8

    Default Re: Reverb acquired by Etsy...

    When you're buying used, you're somewhat at the mercy of whoever is listing it as far as where you buying it from. I've done a few Reverb purchases, all successful, and I always check there when I'm on the hunt for a particular instrument no longer in production. I also bought a nice custom made Appalachian dulcimer on Etsy.

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    Default Re: Reverb acquired by Etsy...

    Quote Originally Posted by allenhopkins View Post
    Not only that, but she'll be able to crochet mandolin straps as well.
    Not to mention the huge backlog of demand for crochet case covers.

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  14. #10

    Default Re: Reverb acquired by Etsy...

    Quote Originally Posted by Mandolin Cafe View Post
    Does this mean my auntie will be able to sell her crochet doilies on Reverb now?
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  15. #11

    Default Re: Reverb acquired by Etsy...

    I've made over a dozen purchases on Reverb and have been quite happy. Last purchase - I wanted an Allen tailpiece, nothing except retail on ebay, found one still in sealed bag being resold on Reverb, made an offer, bought it.

    Like Craigslist there are many overpriced items, I guess the fee structure encourages that, but there are very good deals to be had. Etsy is Arts and Crafts. Reverb is one art, music. Seems like a very good fit to me. Hopefully Reverb gets built into better competition for ebay which is essentially a monopoly and acts like it.
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  17. #12

    Default Re: Reverb acquired by Etsy...

    I too have grab the odd, small item on Reverb and have wowed at what looks like some very good deals time to time but just can't pull the trigger on an instrument I haven't laid my hands on.
    It the change in the fee structures I'm...I guess, curious on. The deal seems to state that Reverb will remain standalone but having seen these types of acquisitions before I am skeptical. But I hope for the best, truly.
    Etsy has a small listing fee...nothing really to note for the small guy but may add up for someone with many, many listings on the site. Reverb has never had a listing fee.
    The big one to me is the selling fess. Reverb is currently set at 3.5% of the selling price with the shipping included and caps at $350usd. Etsy is 5% of selling and shipping but has no cap. If Reverb were to incorporate that no cap, it could be very big money for the large ticket item. Even the added 1.5% on bigger items is nothing to scoff at.

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    Default Re: Reverb acquired by Etsy...

    Have had good experiences buying through Reverb. Both my 1910 Gibson and Strad-o-lin. Hopefully it stays good.
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  21. #14

    Default Re: Reverb acquired by Etsy...

    It's all about money, so.......

    Using eBay's almost 24 year history as an example, all the changes they have made over the years have been about money, resulting in more cost and nuisance for the seller who has to pass on the cost to the buyer.....

    When eBay started it wasn't much more than an internet yard sale, with the seller having all the control over how his business was to be run. Now, there's a mountain of rules to be followed -- all dumb ones, IMHO....

    All this being said, I still use eBay BECAUSE it allows me, a small US seller to find the guy in Belgium (or wherever?) who wants to buy my item at a good price and in a timely manner. That is the advantage of eBay -- locating a pre-screened customer. If I were trying to sell the same item locally, it would take years to find a buyer and then they would complain about the price.....

    And, as a buyer, there are still deals on eBay, IMHO.

    I like Reverb, but it seems to be mostly dealers asking top dollar. Not a lot of bargains, IMHO.

    FWIW, I've never used Etsy, so it might be great......

  22. #15

    Default Re: Reverb acquired by Etsy...

    Ebay has become much more expensive because it is a monopoly. The smart play for Etsy is to expand the number of products on Reverb. It may raise the fee to 5% but it has to stay much cheaper than ebay in order to attract listings, which attract buyers. If they were close to the same fee everyone would list on ebay because it has a vastly larger buyer base.
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    Default Re: Reverb acquired by Etsy...

    And Ebay has reduced their seller royalties to match those of Reverb. Reverb provided the competition and this was the result. I was pleasantly surprised to find that you can list an amp, guitar or mandolin on Ebay and you pay much less than you once did for the completed sale. Thank you Reverb!

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    Default Re: Reverb acquired by Etsy...

    I had a good experience with Reverb, selling a synth. However, they want to hold onto your money afterwards. (to use for future purchases) If you cash in, they dump your account. …and don’t get me started with ‘PainPal’…

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    Default Re: Reverb acquired by Etsy...

    Quote Originally Posted by lflngpicker View Post
    And Ebay has reduced their seller royalties to match those of Reverb. Reverb provided the competition and this was the result. I was pleasantly surprised to find that you can list an amp, guitar or mandolin on Ebay and you pay much less than you once did for the completed sale. Thank you Reverb!
    Really? Is the final value fee not 10% on mandolins nowadays?
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    Default Re: Reverb acquired by Etsy...

    Quote Originally Posted by Tomando View Post
    I had a good experience with Reverb, selling a synth. However, they want to hold onto your money afterwards. (to use for future purchases) If you cash in, they dump your account. …and don’t get me started with ‘PainPal’…
    Is this a recent Reverb policy? I've sold things on Reverb in the past and had no problem getting the cash afterwards and my account wasn't dumped.
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    Default Re: Reverb acquired by Etsy...

    I bought an electric guitar on Reverb a few years ago and it was a pleasant experience. I had one up for sale on there and closed the ad when I realized they were going to keep my money for a bit after the sale (sold on my local Craig’s List later with zero hassle or fees). eBay ran me off years ago when it became all about the buyer. Amazon has done the same. The internet is a great place to buy, not so great to sell.
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    Registered User mandolinstew's Avatar
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    Default Re: Reverb acquired by Etsy...

    Quote Originally Posted by Tomando View Post
    I had a good experience with Reverb, selling a synth. However, they want to hold onto your money afterwards. (to use for future purchases) If you cash in, they dump your account. …and don’t get me started with ‘PainPal’…
    ‘PainPal’ LOL I had to close my bank account because of dem crooks.That was years ago and they still send me emails to update my account.

  31. #22
    Registered User lflngpicker's Avatar
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    Default Re: Reverb acquired by Etsy...

    Quote Originally Posted by Jill McAuley View Post
    Is this a recent Reverb policy? I've sold things on Reverb in the past and had no problem getting the cash afterwards and my account wasn't dumped.
    You are correct, Jill. They collect the funds for your sale and they are given to the seller immediately. This must be a reference to a returned item and the buyer indicating they want credit for future purchase? This assertion just isn't something that has ever been their policy when I have sold on Reverb.

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  33. #23
    Registered User Tomando's Avatar
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    Default Re: Reverb acquired by Etsy...

    I still feel that Reverb is a great site for selling musical gear. Except mandolins, which the Cafe does best. (IMHO) I did have a bad experience with PainPal, thought their website was very counter-intuitive. Seemed like roadblocks thrown up before releasing funds. Not a computer genius here, but seems like their site could be made more sensible and intuitive. Just my two cents here..

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    Phil Goodson Philphool's Avatar
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    Default Re: Reverb acquired by Etsy...

    Quote Originally Posted by Tomando View Post
    I still feel that Reverb is a great site for selling musical gear. Except mandolins, which the Cafe does best. (IMHO) I did have a bad experience with PainPal, thought their website was very counter-intuitive. Seemed like roadblocks thrown up before releasing funds. Not a computer genius here, but seems like their site could be made more sensible and intuitive. Just my two cents here..
    I've had NO problems with Paypal since they started allowing you to select the default method of payment (credit card vs bank account). Prior to that, I had a few times when my payment money came from a place I didn't prefer. That being said, I opened a small, fee-free bank account specifically to link to Paypal rather than linking it to my regular bank account. (Just in case...)

    Have had NO problem transferring funds (from selling something) from PP to my bank acct.
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