This is Part 2 of a series of posts on Seasonal Consignment Sales. If you missed the first post, you can read it here. I’m going to bring you all the info you need to earn and/or save money by using your local Consignment Sale. After the series is complete, I’ll be featuring some local sales, and offering you some giveaways – early shopping passes, gift certificates, etc! Don’t miss out – check back often! You can also subscribe by e-mail or RSS, or “Like” me on Facebook to get updates on your News Feed!
What is consigning?
Simply put, consigning is selling your personal items. A consignor brings in their items to the consignment sale, where the selling of the items is done for them. In exchange, they receive a portion of the profits.
Why should I consign?
Selling your unused items through a consignment sale is a great way to make money. Consignors typically earn anywhere from 50% to 75% of their sales. Consignment sales also bring higher prices than a garage sale, plus you don’t have to do any of the advertising or haggling!
Also, consider this: At a garage sale, you are not targeting a particular audience. You could put out all your children’s items at rock-bottom prices, and still not sell anything if the only people who stop by are not looking for those things. At a consignment sale, every single person who shops will be shopping for what you are selling – children’s items! This means that you are much more likely to make sales.
Another big benefit of consigning is pre-sale passes. In most seasonal consignment sales, consigning will earn you to right to shop before the sale is open to the public. You get to shop when the selection is best.
Consigning gives you the option to de-clutter your life and earn money in the process. Plus, you’re recycling, which is always something we should strive to do!
What is the consigning process like?
Consignment sales go out of their way to make the process of consigning as painless as possible. Your responsibility varies from sale to sale, but for the most part, you gather your items together, price and tag them (many sales have online software to help with this), and take them to the sale. That’s it! You pick up your check at the end of the sale. Many sales also offer an option to donate unsold items to charity so that you do not have to bring them back home. Some sales even have an option where they will sort, price and tag your items for you – all you do is drop them off (this option usually requires you to accept a smaller percentage of your sales.
How much money will I make?
Obviously, the amount of money you make will depend on what items you choose to sell. That being said, there are ways to maximize your profit. Don’t overprice your items and make sure they are good quality. The general rule for consigning is to price items at about 1/3 of their retail price.
As an example, let’s say you consign 40 items of clothing at $5 each ($5 is a pretty low price for high-end brands or multi-piece outfits, but it’s a good round number for illustration purposes). If all your items are purchased, and you receive 75% of your sales, you could earn $150. Most seasonal consignment sales report average consignor checks between $250 and $400!
Tips to maximize your profit:
- Research your consigning options. Every sale is different, and some may be better suited to what you want to sell. Have mostly high-end items to sell? Look for a sale that only accepts brand names. They will attract shoppers that are willing to pay a slightly higher price for the items you have to offer. Have a lot of friends that you think would like to consign too? Some sales give you a higher percentage of your sales if you refer your friends to consign.
- Sell quality items. This doesn’t mean that everything has to be name brand items. However, consignment sales will not accept torn or stained items. Make sure no buttons are missing, zippers are not stuck, etc. Toys shouldn’t have missing pieces.
- First impressions DO count! Wash and dry your clothing items. Also, ironing will go a long way towards making a used item look great again! Hang items neatly on the hanger. If there are accessories that go with an outfit, make sure they are easily visible. For toys, make sure they have new batteries if necessary (you can grab some cheap ones at the dollar store). If you don’t have the original instructions for something that needs them (technology, games, large items to be assembled, etc.), see if you can find a copy on the manufacturer’s website and print it out.
- Outfits sell better than separates. Clothing sold as an outfit means the buyer doesn’t have to worry about finding matching items. Don’t put random items together just to make an outfit, but if you purchased items together that match, then sell them together.
- Price your items appropriately. Do not let sentimental value have a say in your pricing decisions. Try to look at your items as a potential buyer. What would you be willing to pay if you were shopping at a consignment sale? On the other hand, don’t price so low that you do not earn what an item is worth. Items that are underpriced may make shoppers wonder if there is something wrong with it.
- Read your consigning instructions carefully. Each sale has a different process and different requirements. Don’t lose out on the opportunity to consign because you missed the deadline or tagged your items incorrectly.
Another thank you to my sister Sarah for helping with the tips!!
Still have questions about consigning? Leave a comment below with your question, or e-mail me at frugaljacksonvillemom [at] gmail [dot] com. The third post of this series will feature questions and answers from my readers.
Stay tuned for Part 3: Q & A…..
Jacksonville Area Consignment Sales
Finders Keepers – Sept. 2-4
WeeTrade – Sept. 12-18 and Oct 3-9
Between Friends – Sept. 16-18
Upscale Kids Sale – Sept. 16-18, 23-25, and Oct 7-9
Jump N Jax – Sept. 23-26
Kids Go Round – Sept 30-Oct 2
Related posts:
[...] This is Part 3 of a series of posts on Seasonal Consignment Sales. If you missed the first posts, you can read them here and here. [...]