What is a Consignment Store and How Do They Work?

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What is a Consignment Store?

A consignment store is a retail establishment that sells items on behalf of the owner of the merchandise. Thus, the original owner retains ownership until the item sells, at which point both the store and the owner each get to keep a pre-determined share of the sales price.

For instance, an estate might consign furniture and jewelry to a consignment store so that the family doesn’t need to conduct an estate sale or try to sell the items on Craigslist. The store makes it very simple for the consignor by picking up the items, pricing, providing a showroom, marketing, selling, accepting payment, and making arrangements for delivery. The family will simply collect their proceeds once the items have sold.

And sometimes items found in a consignment store can even be brand new – consigned by new furniture stores looking to liquidate their showroom samples, customer order cancellations, or overstock inventory at well very discounted prices!

Consignment versus other Discount Stores

A consignment store differs from the average second-hand or thrift store in that the items are carefully curated. A consignment store owner is usually very picky about what items to place in their store. On the other hand, the average second-hand or thrift store takes any item that is donated. Sure, you may find a few gems in a thrift store, but you will likely have to sort through shelves and shelves of junk. In this way, the consignment store model is much like a typical retailer; except that rather than buying items from a manufacturer, they work with individuals who are passing on treasures.

Consignment versus New Furniture Stores

When you shop at a consignment store like Upscale Consignment, you will find the best values.  An upscale consignment store offers stylish, high quality pieces in excellent condition at prices from 40% -80% off retail pricing. Thanks to a constantly changing inventory, your shopping experience is never the same twice.  Use our website to compare our inventory with the prices and quality that your local furniture stores offer, and see for yourself!

How Does a Consignment Sale Work?

Consignment sales are essentially brokered transactions. The consignment store accepts stylish, desirable, quality items that are in excellent condition, assesses their secondary market value and then markets them to a discerning clientèle. When the items sell, a check is cut for the consignor for their portion of the sale price. The consignment store takes all of the work out of the process, so all you need to worry about is cashing the check!

If you have items that you’d like to sell, make sure they are in excellent to like-new condition, current styles, and quality brand names. These are the types of items that will attract the highest selling prices and will be what the consignment store wants most on their sales floor. Also be aware of the demand for seasonal items. For instance, spring is a great time to sell your outdoor patio furniture, and fall is the perfect time for selling indoor exercise equipment and dining sets.

 

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    […] where lots of potentials buyers will see it, do all the necessary marketing in-store and online and handle the sale. A consignment service is all about convenience, for both buyers and sellers. In fact, you can take […]

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