How to Consign
Locate a shop., Bring your items in to be reviewed., Establish the terms of your agreement., Consider an “upfront payment” method., Receive payments for any items sold., Pick up any unsold items.
Step-by-Step Guide
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Step 1: Locate a shop.
Any major city and many small towns will have a consignment shop, usually selling clothes and/or household items.
Antique stores, gift shops (particularly gift shops that boast handmade or artisan goods), and used sporting goods stores often function as consignment shops as well.
In some cases, pawnshops may also offer consignment services.
Search for a consignment store in your area that sells the type of goods you’d like to consign., The first step in initiating your consignment, is to bring your items into the store to be reviewed.
You will want to be sure that all items are clean and presented nicely.
A representative at the given consignment store will review your items and determine whether or not they are a good fit.It is not a bad idea to call ahead and ask about any guidelines they use.
For example, some consignment shops may only accept antiques (100 year old items), vintage items (20 years old), or specific name brands., If the consignment shop accepts some of your items, the next step is to establish the terms of your consignment agreement.
The consignee (in other words, the shop) will establish the target resale price for each item, the consignor's share of it, and the length of time the items will be held for sale.
You can agree with the consignee’s offer outright, or try to negotiate., Some stores may offer to “purchase” your items for cash or store credit. (Resale shops like Buffalo Exchange and Play It Again Sports work this way.) Technically speaking, this is not “consignment,” but the term is loosely used to refer to these services as well.
These stores will always offer more in store credit than they do in cash.
Although you would almost certainly make more money through a traditional consignment, this way, you do not have to wait for items to sell., Whenever your items are sold (under a traditional consignment agreement), the consignee will pay you your percentage.
Depending on the policies of the shop, as well as your specific consignment agreement, payments may be made out for individual items or accumulated and paid out bi-weekly, monthly, or even bi-annually., In general, shops will hold onto items for 30, 60, or 90-day cycles.
Sometimes, after a certain amount of time, unsold items may be discounted.
Ultimately, unsold items will be returned (unless you don’t want them).
All of these terms will vary from shop to shop and from contract to contract.If your items do not sell, you can try brining them to a different consignment store.
If you do not think the items will sell and you no longer want them, consider donating them to a thrift store. -
Step 2: Bring your items in to be reviewed.
-
Step 3: Establish the terms of your agreement.
-
Step 4: Consider an “upfront payment” method.
-
Step 5: Receive payments for any items sold.
-
Step 6: Pick up any unsold items.
Detailed Guide
Any major city and many small towns will have a consignment shop, usually selling clothes and/or household items.
Antique stores, gift shops (particularly gift shops that boast handmade or artisan goods), and used sporting goods stores often function as consignment shops as well.
In some cases, pawnshops may also offer consignment services.
Search for a consignment store in your area that sells the type of goods you’d like to consign., The first step in initiating your consignment, is to bring your items into the store to be reviewed.
You will want to be sure that all items are clean and presented nicely.
A representative at the given consignment store will review your items and determine whether or not they are a good fit.It is not a bad idea to call ahead and ask about any guidelines they use.
For example, some consignment shops may only accept antiques (100 year old items), vintage items (20 years old), or specific name brands., If the consignment shop accepts some of your items, the next step is to establish the terms of your consignment agreement.
The consignee (in other words, the shop) will establish the target resale price for each item, the consignor's share of it, and the length of time the items will be held for sale.
You can agree with the consignee’s offer outright, or try to negotiate., Some stores may offer to “purchase” your items for cash or store credit. (Resale shops like Buffalo Exchange and Play It Again Sports work this way.) Technically speaking, this is not “consignment,” but the term is loosely used to refer to these services as well.
These stores will always offer more in store credit than they do in cash.
Although you would almost certainly make more money through a traditional consignment, this way, you do not have to wait for items to sell., Whenever your items are sold (under a traditional consignment agreement), the consignee will pay you your percentage.
Depending on the policies of the shop, as well as your specific consignment agreement, payments may be made out for individual items or accumulated and paid out bi-weekly, monthly, or even bi-annually., In general, shops will hold onto items for 30, 60, or 90-day cycles.
Sometimes, after a certain amount of time, unsold items may be discounted.
Ultimately, unsold items will be returned (unless you don’t want them).
All of these terms will vary from shop to shop and from contract to contract.If your items do not sell, you can try brining them to a different consignment store.
If you do not think the items will sell and you no longer want them, consider donating them to a thrift store.
About the Author
Anthony Shaw
Enthusiastic about teaching hobbies techniques through clear, step-by-step guides.
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