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Consigning: A Way to Add a Little Extra Money to Your Wallet

Consigning: A Way to Add a Little Extra Money to Your Wallet
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Now is a good time to go through your closets and possibly make some decent money at your local consignment store. Unlike a traditional thrift store, consignment shops are usually more upscale in price because they carry a lot of brand name clothing.

If you have items that fit in this category that you are no longer using and are in great shop, it might be worth investing a little time in sorting through your wardrobe. It’s for certain you won’t get extra money with them just hanging there nicely displayed. Here are some things to consider if consigning is something you might try doing.

What items do they take? Some shops will not take clothing from certain stores even though it may be in excellent condition. Contact them to see what brands are included and excluded. See if they have a website that you might get more information from. Be sure to take pictures of your clothes before you take them in.

How are items priced? – Ask the shop how they derive at their pricing. While they want to price it at a cost that would be advantageous to them and potential customers, you want to get something out of the deal too. You’re not under any obligation to give them your clothes just because you take some there. If you’re not comfortable with their pricing policy take them to another consignment shop.

Getting Paid – If one or all of your items sells then what percentage do you make as the consignor? Have this put in writing for clarification purposes and no misunderstanding.

What if items don’t sell? – Inquire as to the length of time that your items can stay at the shop. If there is a limitation (which there usually is) find out what it is. You may suggest that the price be reduced to increase the chance of it selling. Of course you would need to ask what you would receive in that situation.

Donate to thrift store or charity – If all options have been unsuccessful then inquire as to whether they will donate it or will you have to come and retrieve the items yourself.

To increase the chances of your clothing being sold be sure they are freshly cleaned with no stains or missing buttons, zippers or closures. And while you’re at the shop look at items on the racks and see how they are priced. That might give you a better understanding of what you might receive. It could end up be a winning proposition for all parties involved.

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