Beginners Guide to Consignment!
Posted on February 22 2017
What to Know & How to Get Started…
Have wayyyyy too much stuff in your closet and need some extra cash for that ski trip to Park City? Then it’s time to jump onboard the resale train ladies! It’s a no lose situation. Resale, consignment, pawn shops, thrift shops… people often get confused. Looking for a killer luxury find – then a consignment boutique is certainly where you’ll need to head. So, check this… here’s the actual definition of consignment-
agreement to pay a supplier of goods after the goods are sold
Now what exactly does that mean? We sell your stuff then you get PAID! Independently owned stores act as middlemen, they check authenticity of an item (to make sure the CHANEL isn’t a Channel) then act as a “luxury agent” for your item. They know what’s the real deal, they have customers that are seeking out that hard to find bag from last season’s runway show and they handle the sales transaction for you. Our associates have a hawk’s eye for what’s on trend and what the next best thing in fashion is going to be! In short, want to make a little money for those pieces you no longer need, then you must come consign!
Ok ladies, let’s get started… This is how the “magic” happens!
Sellers – Bring Your Goodies!
You happen to have a fierce pair of Christian Louboutin’s that kill your feet when you walk, so you’re thinking it’s time that they no longer hold a valuable piece of real estate in your closet. You walk into say, Michael’s (duh) – we confirm they are indeed authentic, if you only have the one piece, we’ll give you an idea of how much we can sell that item for and then pop them on the shelf for the next lucky lady. Sure, there’s a few more steps than that but you get the gist. The consignment shop takes a commission because hey, they are doing all the hard work like getting the perfect buyer to snag those puppies!
A few tips:
- Your item should be in great condition
- Is your item vintage, out of style or just not right for you anymore? (Different store’s have different expertise so you’ll want to know what you’ve got!)
- Pick a store with an established clientele (like Michael’s!)
- Also check out Tammy’s guide of how to make your items work harder for you and your wallet!
Buyers – Come Indulge!
You can shop luxury items that were purchased from people just like yourself, celebrities or editorial items at up to 90% off retail! I can honestly say that I have seen time and time again, items that are in season and practically (if not) new on the shelves. The deals are too insane to pass up and often leave me asking why I would ever want to casually walk into a store on 5th and splurge!
A few tips:
- Target stores in a fancy neighborhood (to get the best finds)
- Inspect items before purchasing (a reputable store will have already done this for you though)
- Go in with an open mind because you never know what you’ll find!
So, let’s just recap what we’ve learned.
- Why pay retail when you can buy luxury items at Michael’s for up to 90% off?
- When I want to make some cash, I should bring in my items to sell – and let them take care of all the heavy lifting.
- I can trust reputable consignment stores to inspect item quality and authenticity.
- Consignment stores are the best place to go for a full service and turnkey resale option.
Boom! Mind blown right?
This weekend when you are bored and cold… go through your closet and figure out what you are majorly missing from your wardrobe or what you want to get rid of to make room for new finds! Click here for a few more consignment tips from Tammy, and check out some of our GREAT finds in the image below!
Oscar De La Renta Black Suede Patent Leather Trim Boots Sz 7, retail price: $1,490 Michael's price: $290 81% OFF
J. Mendel Black Shearling Outerwear Sz 8, retail price: $4,500 Michael's Price: $1,380 69% OFF
Chanel Ivory Rabbit Handbag $685
Hermes Purple Silk Chiffon Scarf, retail price: $870 Michael's price: $375 57% OFF