Consignment Sale season is coming! WOOHOO! I never thought I’d be excited to go to a consignment sale- but you know what? They rock! Spend literally pennies on the dollar for gently used stuff that the kids are going to outgrow soon anyway! They can also be great places to earn a few extra bucks. Whether you’re thinking about selling at sales or stores, below are some good tips!
All too often, we tend to stuff such gifts into the back of a closet or drop them off at a charity. Maybe this is the year to turn those clothes, and other unused clothes in your closet, into hard cash, and consignment shops are a great place to do so. Consignment stores sell your clothes and typically return 40 to 50 percent of the sale price to you at the end of a set time period, usually two to three months. If clothes don’t sell, shops will either return the items to you or donate them to charity. Usually, you are given a choice.
If you’ve avoided these resell shops because you don’t understand how they operate — or how to choose the right one for your needs — we’ve got eight tips to help lead you through the process.
1. Call ahead: Start by surveying consignment shops in your area by phone. Do they want particular sizes and styles of clothes? Do they specialize men’s, women’s or children’s items? Ask if they’re selling for winter only or are already taking consignments for spring and summer. What percentage of each sale do they keep and do they charge a fee on top of that? Do they provide their terms in writing? Do they computerize their records? How long have they been in business? Consignment stores tend to come and go, so select a shop that has been in business for at least two years.
2. What percentage will you receive: Beware of shops that don’t detail the percentage you’ll receive of each sale.
3. Location: You want a store in a high-traffic area, not one tucked away in an unvisited strip mall.
4. Check it out in person: Take time to look around the store before consigning. Is the merchandise in good condition? Is it attractively displayed or are racks overstuffed? What prices do they charge? Do they sell clothes similar to those you plan on consigning.
5. Stick to one shop: It’s easy to get confused if you have placed items at several different stores. Dealing with one store also helps you build a relationship with the staff, which could mean they’ll be more likely to accept the majority of your future consignments.
6. What to consign: Go through your closets and the closets of other family members. Only select clothing that is clean, in good shape and still in style. Replace buttons and repair any tears, if necessary. Don’t forget accessories as they sell well. This includes jewelry, handbags, scarves and hats in good condition. Designer and vintage wear are particularly popular. All clothes should be delivered to the store on hangers.
7. Review consignments with the owner: Bring your consignment items in at a time when the owner can go over them with you. You want to avoid being told at a later date that an item had a tear or stains. Know your clothing.
8. Get a receipt: The consignment store should provide you with a detailed listing of each item you’re consigning, along with the time periods at which your items will be reduced in price. Most stores reduce a percentage of the price after 30 days and again at 90 days. Many will donate unsold clothing to charities after 90 days, unless you pick them up. You can receive a tax deduction if you bring unsold items to charities yourself, so this is preferable.
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