Making The Most Out Of Consignment

A few weeks ago, I cleaned out my closet and decided to bring some of my designer items to a consignment shop. 

I was a little weary of the process.  I had read some horror stories about shops where people felt they had been cheated.  Since I really couldn't wear my items any longer, I still wanted to give it a shot.  So after reading all the reviews, I decided to give two shops a try:

Common Sort (Parkdale Location)

This very trendy shop doesn't follow the traditional consignment model.  A buyer looks through your pieces and will select and price them for the store.  You can choose to receive half that price in store credit that is good for one year or you can take 25% in cash, on the spot.  No appointment necessary during store hours.

The buyers were super friendly.  They asked me to browse while they went through my items.  The store was chock full of very fashionable, trendy pieces.  As I looked at their merchandise, I realized that it was unlikely they would select any of the more classic designer items I had brought in and I was right.  They politely declined and thanked me for stopping by.  If you are looking for an interesting piece to spice up your wardrobe, they are worth checking out.

Flair Trade (Yonge & Lawrence)

Flair Trade and its predecessor, PLAYNWEAR kids consignment, have been serving the Yonge & Lawrence area for 30 years.  It was clear from the moment I walked into the shop that this high-end resale consignment shop was built on developing long lasting relationships with both customers and consignors.  The buyers took the time to go through my items, explained why some pieces weren't being accepted and also suggested that I bring a few items back in for a different season.  

If you consign your items with Flair Trade, they will be placed on the floor for a 60-day period.  If you want your items returned to you if they don't sell, you have the option to call the shop about a week before the expiry.  If you don't, the items will belong to Flair Trade and will be donated to a local charity.  As with other consignment shops, Flair Trade offers commissions on the sale of items which can be taken in cash or store credit (which is slightly higher than the cash rate).

Although the shop is small, it has great turnover. Within a week of dropping off my castaways, my black satin trench from Bebe was sold.  If all goes well, I can expect upwards of $200 for items that normally would have gone straight into the donation bin.  That's a whole lot of diapers. 

How To Make The Most Out of Consignment

If you think consignment is for you, here are a few things I learned that can help you get the most value for your items:

1. Check out the consignment shop.  Read the reviews and pay them a visit.  If the shop carries things you would wear, then odds are they will accept your in season items as long as they meet the shop criteria.  If lugging your stuff around is an ordeal, email pictures to the buyers to gauge interest or see if they offer a closet cleaning service where they come to you!
2. Keep original receipts, boxes and garment bags.  If you can show what an item originally retailed for, it's easier for the store to price them right.  Also, having the original boxes and garment bags can help with merchandising.
3. Show off your items in the best condition possible.  Simply put - clean, on a hanger and free of stains, tears and obvious wear.  Look at the item in good lighting and ask yourself if you would buy it in its current condition.  If you wouldn't, odds are the shop won't take it either.  If you're not sure, have a buyer check it out for you.
4. Keep the season in mind.  Consignment shops post the season they are currently accepting items for so clean your closets early.  For example, if you have spring/summer items to consign, you'll want to bring them to a consignment shop around mid-March.  The earlier they hit the floor, the better your chances of the item selling for the agreed upon retail price. Items will get mark-downed based on inventory as the season progresses.

Have you ever bought or sold items at a consignment shop?  Any tips to share?  I'd love to hear about it.