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Question submitted by Beth: "I am just wondering exactly how selling clothing on consignment works?"
Hi Beth, thanks for your question!
I often help my clients source the proper consignment store after we've done a closet cleanup. The store you choose really depends on the labels you are trying to consign, the percentage profit you would like from your clothes, and how far you are willing to travel to bring your pieces to the store.
Many consignment stores are looking for designer labels (like the labels you would find at Holt Renfrew, etc.) Some may take the odd piece from more mainstream stores like Jacob, or Banana Republic if it's a really special piece, but it's unusual. If you have specific pieces to sell, I would suggest phoning stores in your area to see if they accept the labels you would like to sell.
When you bring your pieces to your chosen consignment store, they will choose the pieces they would like to keep. The store will set the price - although sometimes you can have some input - and let you know the percentage they will keep, and the percentage you will receive. Keep in mind that the lower the price, the easier it will be to sell. There is a fine balance setting the right price for used clothes, whether they've been worn, or not, so I tend to trust in the store owner to help decide what price to set. Keep in mind that what you keep will usually only be between 30 and 50 percent of the set price.
You will sign something that states the pieces you left, and the price each is sold for. Some stores also have a method for pricing "sale items" for pieces that haven't moved in a while.
Once the item is sold, the store owner should cut you a cheque for the amount they owe you. If your items don't sell, they will be given back to you. You can try to sell them at another store, save them to sell at a later date, or donate them to charity.
I would recommend following-up with the store every 3 months if you don't hear from them sooner.
Hi Beth, thanks for your question!
I often help my clients source the proper consignment store after we've done a closet cleanup. The store you choose really depends on the labels you are trying to consign, the percentage profit you would like from your clothes, and how far you are willing to travel to bring your pieces to the store.
Many consignment stores are looking for designer labels (like the labels you would find at Holt Renfrew, etc.) Some may take the odd piece from more mainstream stores like Jacob, or Banana Republic if it's a really special piece, but it's unusual. If you have specific pieces to sell, I would suggest phoning stores in your area to see if they accept the labels you would like to sell.
When you bring your pieces to your chosen consignment store, they will choose the pieces they would like to keep. The store will set the price - although sometimes you can have some input - and let you know the percentage they will keep, and the percentage you will receive. Keep in mind that the lower the price, the easier it will be to sell. There is a fine balance setting the right price for used clothes, whether they've been worn, or not, so I tend to trust in the store owner to help decide what price to set. Keep in mind that what you keep will usually only be between 30 and 50 percent of the set price.
You will sign something that states the pieces you left, and the price each is sold for. Some stores also have a method for pricing "sale items" for pieces that haven't moved in a while.
Once the item is sold, the store owner should cut you a cheque for the amount they owe you. If your items don't sell, they will be given back to you. You can try to sell them at another store, save them to sell at a later date, or donate them to charity.
I would recommend following-up with the store every 3 months if you don't hear from them sooner.
Hope this helps!
Wendy
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