In Italy it is called “Il Mercatino” or “the little market” — a consignment shop franchise that accepts pretty much everything, takes a commission of 30% and gives the customer the rest. For a guy like me who loves to throw stuff out, a consignment shop like “Il Mercatino” is perfect. Granted that may not sound attractive to some folks, but I look at it like this: whatever it was the consignment shop took from me was just lying around anyway. So any cash I make is a bonus. I’m thinking maybe I’m not the only one who thinks like this, because in the United States consignment shops seem to be more popular than ever.
Mommysavers.com reports than consignment shops (also called resale shops) can be found in most large and mid-size communities. And while they can be a convenient way to unload your used clothing, sporting goods, or even furniture, they can also be particular about the merchandise they accept. Consignment shops exist to make money. Many — like the one in my neighborhood — set up a customer account and pay clients on a monthly basis. Some pay outright for the items they take. Some consignment stores will donate or dispose of your merchandise if it’s not sold. And others still will claim complete ownership if the item isn’t sold in 30 days.
The National Association of Retail and Thrift Shops (www.narts.org) points out that there are numerous reasons for the increased popularity of resale, consignment and thrift shops. One is the increased awareness by the public of recycling. People would rather consign, sell or donate their unwanted or unneeded items than just add to the waste stream. Consignors, donors and sellers make money by selling “under-loved” items at these shops, without the expense, work, and bother of a tag or garage sale. By having a resale expert price and market their goods, sellers realize more income than if they attempted to do this themselves
There are some great consignment shop resources on the internet: www.consignmentshops.com and www.howtoconsign.com are both stellar sites that list different consignment shops in each of the 50 states. Another good site is www.tgtbt.com (To Good To Be Threw) which has a list of consignment shops in the United States as well and is also linked to Howtoconsign.com.
Another consignment shop that is experiencing tremendous growth are eBay shops. EBay shops take your merchandise, shoot a photograph of it and then post the photo and accompanying ad on eBay. Obviously with eBay the potential client base is huge. Sure you could do all that yourself (and plenty of folks do) but plenty more don’t have the time or inclination. The time factor of getting the item sale-ready, photographed, and writing a listing may or may not be worth your while. Plus, listing fees can quickly offset your earnings.
The online journal Auctionbytes.com reports that auction-style consignment shops are all the rage drop-off stores have been scurrying to stake a claim in this market, “…with AuctionDrop, QuickDrop, and Picture-It-Sold just a few of the names caught up in the land grab for customers…”
The National Association of Retail and Thrift Shops goes on to say that if you are going to go the route of the consignment or resale shop be sure to check out the store beforehand. Do they sell the type of merchandise you want to bring in? Talk with the staff about becoming a supplier. Are you comfortable with their procedures? Most resale shops have information on supplying available as a handout or a phone recording. Finally, understand the shop’s terms before you consign or sell. Will you receive an accounting of items accepted for sale? And more importantly, make sure you understand what happens if your items does not sell, plus when and how much will you get paid.
It’s true that one person’s “garbage” may be another person’s “gold”. There may be big profits in your garage, closet or attic, and consignment shops are more than willing to help you strike pay dirt.
