Wednesday, December 29, 2010
You have a closet full of clothes but nothing to wear. Your kids are growing out of clothes faster than you can shop for new ones. You're having a baby and don't want to spend a lot of money on maternity clothes you'll only wear for a few months. Any of these ring a bell? Consignment shops may be right for you.
Whether you're buying or selling, consignment stores are an option for saving a little money on gently-used clothes. Buy items for as little as a few dollars or sell clothes you aren't wearing any more and make a few dollars to put toward this week's grocery bill. After all, every little bit helps.
A consignment store is a place where consumers bring in used clothes (from baby clothes to wedding gowns) or goods (furniture, children's toys, sports equipment, video games, etc.) in sellable condition. The store clerk goes through the items and selects pieces that match the store's stock and are of acceptable quality. Then, they offer the consumer a price for all the accepted goods and either pay the entire amount up front or offer to pay a certain percentage of everything that sells within a certain amount of time.
Often, the price offered to the seller is just a few dollars per item or even less, but you'll get more than if you'd donated the goods and you'll still be helping people get the items you no longer need at a more affordable price. Some consignment shops also offer store credit as an option, and you may get more value for your trade-in that way.
For buyers, a consignment store is set up like most other stores. Items are usually organized by size and type and you can browse for what you like. However, as with many discount stores, you'll have to do a little digging to find what works for you. There's usually only one of a certain item, which means you can't try one and then get the next size if the first is too small. And by the nature of a consignment shop, stock changes quickly.
Tips for Shopping
  • Check out a variety of different shops. From specialty children's consignment stores to upscale consignment locations, you can find different types of goods at different stores.
  • If you don't find what you're looking for, head back another day. Consignment stock changes frequently.
  • You can occasionally find unworn clothes with tags intact at consignment stores. Look for items that are new or are in like-new condition.
  • Look for staples, such as jeans, button-down shirts, classic kids' clothes or play clothes, and other items that don't go out of style.
  • For some items, like plain T-shirts and onesies, you can find just as good of a deal on new items at discount retailers such as Target, Sears and the like. If basics aren't in great condition, it might be worth spending an extra couple dollars or looking elsewhere.
  • Specialty items, such as dresses and other formal wear, are often worn only once or twice before being consigned. This makes these a great deal, but they often are sold quickly.
  • Check stores in various areas of town. The quality and breadth of merchandise varies based on what people are donating. If a particular consignment store has a group of loyal sellers who routinely bring in top-quality goods, you might find better items in one store versus another. Look around and get the best.
  • Even consignment stores have sales. You might save a certain percent off a single item or a flat rate off a minimum purchase. Get on the mailing list of your favorite shops so you can find out when the best deals are taking place.
Tips for Selling
  • Call or shop around to see which consignment stores sell the type of items you have to offer.
  • The first time or two that you're selling, consider taking the time to take an item to a few stores near you to compare offers and policies on the same merchandise. Ask if there's a fee to set up a seller's account.
  • See if the stores you work with offer store credit rather than payment for your items, and if you get more value for your goods that way.
  • Don't expect to get rich selling items to consignment stores. However, if you have items you aren't using anyway, consignment stores provide a way for you to make a few dollars off your gently-used items without having to arrange a garage sale or deal with inquiries, shipping and other related issues associated with using a forum like eBay or Craig's List.
  • Make sure the items you're taking in to sell are in the best condition possible. Take the time to wash clothes if they've been worn and make sure everything is wrinkle-free. Shop clerks take quality into consideration when determining the price they'll sell your clothes for and you want your items to look their best.
  • Take items at the beginning or just ahead of their season. There's not much of a market for winter coats in May. Plus, the more of the season that your item is on shelves, the better the chance it will sell--making you and the shop money.
  • Don't be afraid to ask consignment store clerks or managers about the guidelines they use when setting prices or which items they pay most for.
  • Ask what stores do with items that don't sell (return it to you? leave it on the shelf? donate to charity?) and whether you'll get paid.
Local Consignment Stores
Know of others? Leave a comment with your favorites.
Trendy Threads Consignments|Clothing, Wedding|www.shoptrendythreads.com
(get a free Trendy Threads membership here http://www.cincysavers.com/cincycoupons/view/detail/267)
Once Upon a Child|Children's and Baby Items|www.onceuponachild.com  
The Snooty Fox|Upscale Clothing|www.shopsnooty.com
The Snooty Fox Furniture Den|Furniture|www.shopsnooty.com
Plato's Closet|Teen and Young Adult|www.platoscloset.com
Legacies|Fine Furnishings and Accessories|www.legacies.biz
2nd Chance|Clothes, Accessories, Home Goods|www.shop2ndchance.com
4th Street Boutique|Clothing and accessories|www.4thstreetboutique.org
Posted by bmiller | | Filed in money smartsbeyond basics
 
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