The fastest way to profit in resale? Don't touch the inventory.

Peer-to-peer platforms proved this works. Delegate photography, storage, and shipping to sellers. Costs stay fixed whilst transaction volume scales.

Then they discovered the problem: friction stops deals from completing.

Sellers abandon listings when shipping feels complex. Buyers walk away when delivery takes too long. The platform matched them, processed payment, then the sale dies because posting a package felt too hard.

Managed models solve friction by taking over completely. They spend €1-3 per step across 4-5 logistics interactions - consumer pickup, intake sorting, warehouse moves, processing, and final fulfilment. That's €6-10 consumed before an item even lists.

The cost isn't in the model you choose - it's in the friction you tolerate.

Managed operators bleeding margin on unnecessary touches. Processing items through centralised hubs when local operations would cut transport costs by 40%. Moving €30 dresses through the same infrastructure as €300 handbags.

Peer-to-peer platforms losing transactions to seller complexity. Every barrier to listing - complicated forms, unclear shipping, manual carrier selection - reduces supply. High-value transactions dying because shipping felt risky.

The winning approach? Match logistics intensity to item values.

High-value items (€100+) justify managed handling. The €6-10 logistics cost works when margins support it. Authentication requirements, condition sensitivity, and buyer expectations demand control.

Volume items (€30-50) need lighter infrastructure. Provide shipping tools sellers want. Pre-negotiated carrier rates. One-click labels. Let sellers handle what they can, remove friction where it matters. Infrastructure investment: €1-2 per transaction when sellers opt in.

This isn't about choosing peer-to-peer or managed. It's about knowing which items justify which approach.

What You Could Do This Week

☐ Audit your cost per item by value bracket - Take 20 recent sales. Calculate total logistics cost (all touches from collection through fulfilment). Break down by item sale price: under €30, €30-100, over €100. Which brackets are profitable after logistics costs?

☐ Identify category-model mismatches - Which low-value categories are you processing through high-cost managed logistics? Those items either need lighter touch or shouldn't enter your system.

☐ Find one friction point to eliminate - For managed operators: which processing step adds cost without adding value? For peer-to-peer platforms: what stops your best sellers from listing more frequently? Test removing that specific barrier.

The operators who match logistics intensity to item values achieve sustainable profitability. The rest keep wondering why strong GMV doesn't translate to profit.