Consign of the times is certainly a play on words but the meaning is very real. We live in an age where material items are abundant and have a short life span with its original owner. Milliennial’s have very little attachment to holding on to “things.”
If you were raised with the value of buying quality, keeping your paperwork and taking care of your purchases, then consider yourself having a head start in the age of consignment. These traits will be secret weapons needed to keep up with the fast paced trading world. After being in the business for over eight years I feel I could write a book, but for now I will keep it simple and get back to the language we all understand — money.
Follow these the 10 Commandments of Consigning and you will increase your profits.
1. Consigning verses selling to a reseller: if you are willing to be patient and not looking for “instant cash payout,” then consigning is the way to go. Resellers buy cheap. Consignment businesses do their best to get you the highest yield on your item and share that profit with you.
2. Consignment shops like clothing items to be no more than two years old, designer vintage is always welcome. Best sellers are dresses, blouses and coats. Suits are an extremely hard item to sell as most modern women have moved to separates. If you paid $500 for a suit don’t expect it to bring the same price as a $500 dress. It all goes back to desirability and market.
3. Luxury handbags yield the highest return on investment. Keep your authenticity card, receipts, dust covers and any accessories that may have come with the bag. The more you have, the more it will yield.
4. If you paid good money for your goods, treat them with respect. “Bag on the floor, money no more.” You will never find my bag on the floor and if you do please stop to remind me that I am loosing money!
5. Store bags properly to keep their shape. Stuffing large zip lock bags or their dust covers with tissue paper is an easy solution and makes changing bags an easy process.
6. Use a quality conditioner, Coach makes a great one, to keep leather clean and conditioned Scratches can be covered using Meltonian Boot & Shoe polish.
7. Shoes do not have to be stored in boxes to keep their shape, but piling them on top of each other will certainly affect them. Many designer shoes come with replacement tips for the heels, keep them in a safe place to replace worn out tips. Gently worn shoes sell the best.
8. Fine jewelry and watches are great accessories in the world of consignment.
9. Buy less and choose well.
10. Don’t want to be bothered with consigning? No worries. There are Consign Concierge services coming to a city near you.
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