Consignment FAQ's... answered!
Posted on February 27 2016
DO YOU PICK UP?
Yes! We pick up in New York City, Westchester, Southern Connecticut and some Northern counties of New Jersey. Call and schedule a pick up with one of our luxury consultants. We'll take care of the rest! 212-737-7273
HOW LONG DOES IT TAKE TO FIND OUT IF YOU'RE ACCEPTING MY ITEMS?
If you bring your items to the store, we will tell you what we are accepting on the spot. An itemized list will follow via email outlining the prices within 3-5 business days. If you ship your items to us, you can expect an itemized list within 3-5 business days from the day we receive the package.
DO I NEED TO MAKE AN APPOINTMENT?
Nope! We see people all day Monday through Saturday from 10AM-5PM. Sometimes there may be a few minute wait if we are helping another customer but its minimal.
IS THERE ANY PAPERWORK INVOLVED IN THE CONSIGNMENT PROCESS?
Every consignor is asked to fill out a short consignment contract in order to open an account with us. We need your address so we know where to send the checks!
HOW LONG WILL I NEED TO LEAVE MY ITEMS WITH YOU?
Generally, we will hold the items for three to four months before returning them to you, or sending to charity!
WHO OWNS THE ITEMS ONCE THEY'RE IN THE STORE?
Your items belong to you until they are sold or put on deposit. We are happy to return any piece that hasn't sold as long as you give us 24 hours notice.
HOW ARE ITEMS PRICED?
We have many years of experience within the high-end fashion and designer consignment industry. We price each item according to our expertise and knowledge of the secondary market, always considering the retail value. Merchandise is reduced every 30 days by approximately 20%.
HOW MUCH WILL I MAKE?
We split the proceeds with our consignors 50/50 when the item sells. Please talk to Michael’s merchandisers regarding an adjusted split for high value items.
WHEN WILL I GET PAID?
Consignors are paid by check at the beginning of each month for items that were sold the previous month. If you prefer, you can use your outstanding balance to pay for items purchased in the store at any time.
WHAT IF MY ITEMS DON'T SELL?
If your items haven’t sold by the end of the consignment period, merchandise can either be returned to you or donated to charity. Please note that Michael’s does this as a convenience and that we are not a charity. We are not authorized to issue tax deductions. If you choose to have your items returned to you, Michael’s will notify you via mail and asks you pick them up within ten days.
CAN I DONATE MY EARNINGS TO CHARITY?
Absolutely. Many consignors choose to set up their accounts so that checks are automatically issued to their charity of choice.
CAN I STILL BE A CONSIGNOR IF I DON’T LIVE IN OR NEAR NEW YORK CITY?
Yes, we adore our out-of-town clients. We have consignors who ship us merchandise from all over the country and from as far away as Hong Kong, Milan and Paris. However, in order for us to properly review each item, we have to see each treasure in person. You can ship your items to us for review.
Have another question? Write it in the comments below, or call us. We're here to help!