The RealReal’s shares plunge as poor training and tough quotas cast doubt on ‘no fakes’ pledge

RealReal銷售代銷的服裝，精美的珠寶，手錶，精美的藝術品和家庭裝飾品。 它僱用內部專家，包括鐘錶匠，寶石學家，藝術策展人和奢侈時裝鑑定人，他們檢查物品的真偽和價值。

The RealReal sells consigned clothing, fine jewelry, watches, fine art and home decor. It employs an in-house staff of experts including horologists, gemologists, art curators and luxury fashion authenticators who inspect items for authenticity and value.

The RealReal’s shares plunge as poor training and tough quotas cast doubt on ‘no fakes’ pledge

PUBLISHED TUE, NOV 5 20196:15 AM ESTUPDATED TUE, NOV 5 20194:06 PM EST

Scott Zamost@SCOTTZAMOST

Andrea Day@ANDREADAY

Jennifer Schlesinger@JENNYANNE211

Waverly Colville@WAVECOLVILLE

Caroline Skinner@CASKINNER330

KEY POINTS

• The RealReal is an online luxury consignment store that differentiates itself by saying everything is 100% real. The CEO has said there are “no fakes on our site” and “every single item [is] authenticated.”
• CNBC spoke with nearly three dozen former employees and obtained internal company documents that show not everything is authenticated by an expert and employees work under strict quotas that lead to fakes being sold on the site.
• CNBC read nearly 1,400 online reviews of the company and found that fakes, damaged items and mistakes are top complaints.
• The RealReal, which refused an interview, defended its authentication process and said it has no tolerance for counterfeits.