Think consignment selling sounds perfect for your closets filled with old and outdated clothes and accessories? Here are some tips to get started:
Find a Specialty Store. You’ll make more money if you zone in on a specialty store for your goods. For instance, a sports equipment store will pay more for your used football pads than a general consignment shop. When I wanted to sell my stuff, I focused on a store specifically for women’s clothing and accessories to help me score a better price on my leftovers. General shops are better for knick-knacks and stuff that can’t be categorized in specialty shops. Know What Sells. Consignment shops specifically look for stuff that sells quickly and easily. A nearly unworn pair of designer jeans or clean baby toys? Perfect. Your old Little League trophy? Not so much. Before you take your stuff over, consider whether you’d buy the same item used or not. Clean Your Items. You’ll get more money for each of your items if they’re in good shape and freshly washed and ironed. I just hung up the stuff I was going to sell and went over it with a steamer before folding it neatly into a paper bag. If you’re missing buttons, parts, laces and pieces, it’s best to just donate the gear instead. Check over your items for stains and other marks, since consignment shops will probably decline marked and worn-looking items. Read the Contract. If you decide to sell using the profit-sharing method, you’ll receive a contract. The contract gives you information about the percentage for sharing, how the items are priced, how long your items will sit on store shelves, and when you can arrive to collect your money. It’s important to know the details so you aren’t disappointed by the outcome. Don’t Always Go for the Instant Money. Sometimes a consignment store will split up the way that you sell your items. If you want instant money for an old shirt you don’t care about, take the cash. But if a store owner offers you a paltry amount for a baby crib you know is worth more, ask to go a profit-sharing route and you’ll probably score bigger bucks in the long run.
