National Consignment Day 2025

A brief snapshot into the world of consignment!

The History of Consignment

Consignment-style shopping has its roots in the early 20th century, emerging as a practical solution for people to sell quality clothing and goods they no longer needed while offering others access to high-end items at lower prices. During the Great Depression, consignment stores gained popularity as a way to extend the life cycle of products and provide affordable options amid economic hardship. Over time, what began as a thrifty necessity evolved into a sustainable and fashion-forward practice, blending commerce with conscious consumption. By the late 20th century, consignment shopping had grown into a sophisticated retail model—especially within the luxury sector—offering a curated, eco-friendly alternative to traditional retail.

Where We Came Into the Picture

In 1954, Michael’s Luxury Consignment was founded in New York City with a singular mission: to offer Madison Avenue women access to high-end designer apparel and accessories without paying full Upper East Side prices. From our earliest days, our store distinguished itself through careful curation and rigorous authentication, ensuring that every piece—whether clothing, handbags, shoes, jewelry, or furs—met exact standards of quality and authenticity. In fact, we were one of the first luxury consignment stores in Manhattan! Under the direction of Michael Kosof, our business began building a reputation based on integrity, personalized service, and a loyal community of style-savvy clients. Thus the empire began! Since then, Michael's daughter Laura and granddaughter Tammy have continued to grow the business and take consignment to new heights! Click here to read the full timeline of our business.

Saving Your Wallet and the Planet

As awareness of the climate crisis grew, so did interest in consignment-style shopping: more people were recognizing that buying less new and more used can make a real difference. For example, the second-hand fashion industry is estimated to have saved 28.2 million tonnes of CO₂ emissions in 2021 just from trades on online marketplaces like ours. On a more individual level, buying second-hand on platforms like ours instead of new, cuts an average of 1.8 kg CO₂e per item avoided. When garments’ lifespans are extended, even by just nine months, those emissions, water usage, and waste footprints can drop by roughly 20-30%. Also, globally about 24% of consumers now report buying secondhand goods with the aim of living more sustainably. These trends show that consignment and resale aren’t just fashion statements-they’re practical tools in lowering new-clear-cut environmental harm and pushing toward a more circular, less wasteful economy.

Shopping Consignment is Not a Trend

In the last decade, consignment shopping has exploded in popularity, often labeled as “trendy” thanks to the rise of social media influencers, sustainable fashion movements, and online resale platforms. But while it may seem like a passing fad, consignment is far more than that—it’s a lasting shift in how people shop. Platforms like Vestiaire Collective and Poshmark have turned secondhand fashion into a mainstream cultural phenomenon, embraced by a generation that values both style and sustainability. Social media has amplified this movement, showcasing preloved finds as not only eco-conscious but also aspirational and chic. What was once considered thrifty has become the new norm for conscious consumers. The circular economy and our motto of “Shop. Consign. Repeat.” isn’t just a slogan—it represents the future of fashion, where luxury and longevity coexist, and mindful consumption replaces mass production.

Celebrate With Us!

This National Consignment Day (and always) we’re celebrating the sustainable, stylish, and circular future of fashion! At Michael’s Luxury Consignment, we invite you to join us in celebrating the act of giving preloved luxury pieces a second life, whether by shopping our curated collection or consigning your own luxury items. Every purchase and sale helps reduce waste, extend the lifespan of high-quality fashion, and support a more mindful way of shopping. Visit us in store or explore our online selection to celebrate in true Michael’s style—where sustainability meets sophistication, and every item tells a story worth continuing.