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If you're like most families, you probably could use a little extra cash from time to time. Perhaps consignment shops are the answer to your need. Just like holding a garage sale, you can turn your discards into cash.
Unlike a garage sale, you won’t realize your cash potential right away. But using a consignment shop does have several advantages. You won’t have to hang around your home all day, worry about advertising or the weather, keeping up with the money, haggling with bargain hunters or dealing with shoplifters. If you live in a remote area that doesn’t get much traffic, this may be your only choice. Consign it!
Find a shop that carries the type of merchandise you wish to sell. Most specialize in one or two areas. For instance, a clothing store may carry children’s or baby items; or women’s clothing; perhaps only large size women’s or maternity clothing; or maybe just formal/dressy wear.
Preparing your items for consignment is similar to preparing for a garage sale. Clothing should be clean and in good repair; appliances should work, toys have all their parts, furniture in good condition. In addition, most consignment store owners are picky. They’ll take only used merchandise in top quality condition. This allows them to charge their customers a little more, which is good for you, the consignor! Start with good quality clothing, gently used and unstained, even slightly. All zippers, buttons and fasteners should be securely attached. Toys should be in working condition, and not battered looking. When you’re evaluating an item at home, consider the lights in the store. Some stains that don’t look like much will show up glaringly under the store’s fluorescent lighting.
Most shops require you to fill out a registration form and agreement the first time you consign. You’ll be assigned an identification number and each item will be numbered. The store owner sets the price although you can certainly make suggestions if you have a minimum price you’re looking for. Usually the store will measure and size the clothing also. So, basically, once you’ve dropped off your items, you can relax and wait for payment.
Each shop has it’s own procedure for payment, but a usual arrangement is for checks to be issued monthly for whatever sold in the preceding month. They will deduct their commission which was agreed upon when you registered. Twenty five to fifty percent is a reasonable commission; but they may request a higher commission on some high value items. At the end of a certain period, the item becomes the store’s property if you don’t pick it up. They may charge a small fee to withdraw items that haven’t sold.
With a little care, most families can recycle quite a few belongings each season. If you buy good condition used items, and use them carefully before re-selling, you’re a double winner. Some enterprising folks even shop garage sales and thrift shops, pick up nice things especially to consign, getting a higher return. All in all, this is an easy little sideline for a bargain hunter!
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