Revenue is usually split 60 percent to the store and 40 percent to you, although everything is negotiable. Such stores may be referred to as vintage clothing stores, antique shops, used clothing stores, or thrift shops. They set their own terms for how their consignments work, so its important to research the store policies before committing. Do you have a preference or experience finding better deals at thrift shops vs. consignment stores? Some items aren't a good fit for consignment. With classifieds (person-to-person sales), you can save that money, but now you are the one connecting with potential buyers, negotiating prices and handling the transaction. Or are you wanting to really recoup as much value out of it? Consignment shops typically operate in one of two ways: While consignment shops are for-profit businesses, thrift shops are typically non-profit organizations run by charities. Good post! After the sale, you can either collect your items or have them donated on your behalf. is dedicated to providing consignors a stress-free process while giving the best . document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Privacy Policy & Terms | Other consigned items, including but not limited to appliances, electronics and tools, must be in good working order. Hello, thank you for this article. Find your style at Stuff Etc Coralville! It certainly didn't start that way, nor was it ever conceived that it would grow so dramatically. Local and online consignment stores may resell your wedding gown including ThredUp, Nearly Newlywed, Borrowing Magnolia, Once Wed, and PreownedWeddingDresses.com. Do I know anyone whos successfully used this platform. Terms of Use and Privacy Policy, about Coronavirus and Working from Home: Small Business Tips On How to Survive the COVID-19 Pandemic, The Ultimate Consignment & Thrift Store Guide, The Trading Assistants Assistant: How to start a part-time job or full-time consignment drop-off business on eBay, Cash In The Closet! Meanwhile, in Coralville, we began building a new store on Commerce Drive that was 36,000 square feet on 2 levels (our current location). Tradesy is a peer-to-peer marketplace where you can sell your second-hand luxury designer or high street handbags. As long as the item is in excellent condition, I will sell it. When we moved from Arkansas to Texas, we left the baby bed my son had outgrown with a consignment shop. People often under-estimate thrift stores, but with some patience, you can walk away with some great items! Depending on the consignment shop and the item being sold, the seller may concede 25% to 60% of the sales price in consignment fees. I usually bring stuff to my moms house and we have a joint yard sale but were still weeks away from warmer weather. Decide how much you want to charge your consignors for selling their items. The general consignment process is most likely the same no matter where you go. Different items may be less desirable in different markets, check with your local store if you have questions about an item. Consignment selling may or may not be attractive to you. The payouts decline from there, with rates dipping to as low as 40% for any item less than $145. Country decor was on its way out, so we dropped that completely and decided to change our name to Stuff Etc. You can log in to your account whenever its convenient for you and watch your stuff turn into cash! In December of 2005 we opened a second Cedar Rapids store on the east side. I blog about all the amazing stuff I find to show people how amazing thrift stores can be! People post a picture and price of their item, people comment interested or Next (for next in line) if they would like to purchase. Here's a list of what to cover: Inventory. All battery-operated items must have working batteries in them. You receive $10. Consignment stores are for profit. In its 2022 Luxury Consignment Report, TheRealReal reports that these brands consistently appear in top 10 lists across all seller demographics: Reselling designer luxury and high-end handbags from brands like Louis Vuitton, Chanel, Coach, Hermes and Dior? Auctions are hit and miss. And we are going to start it today NOT February 1st! Household items must be clean and in working order. Its important to point out that some second-hand shops operate solely based on donations. At Stuff Etc we have all your favorite brand names at a fraction of the price! Continue to 9 of 10 below. As an apartment dweller its ideal! A fair consignment percentage ensures both you and the shop owner are profiting with the sale of one of your products. If your item doesnt sell within that period, some shops will discount the item (by say, 30%), or you will need to pick it up. Your email address will not be published. Iowa City, Coralville, Cedar Rapids, Waterloo, Davenport, Ankeny, A consignment agreement is a contract that places an item the consignor (or owner) owns with the consignee (or seller) for the consignee to sell. Quality Furnishings and Housewares. So many people could use these good items. How can you make the most of your Stuff Etc consignment relationship? Valuing your goods at what you feel they're worth can help you to maintain a low-cost percentage. Especially if you live in a big metropolitan area or near a ritzy neighborhood. Im just going to throw this out there.our most commonly asked question might be a shocker to you. Coralville, IA 52241, Copyright 2023 Stuff Etc - All Rights Reserved. Claudines Debt-Payoff Success Story: From Foreclosure to a Mobile Family Business, Sell Your Crap: Download and See Bonus Videos. ThredUp is an online consignment and thrift shop that features women's, kids', and maternity clothing along with shoes, handbags and accessories. On a $100 sale with a 40% consignor share, the payout should be $40, so 40/100 = .4 or 40%. The platform accepts most items, as long as they are capable of being shipped. The week before the sale, youll prepare your items with tags specific to your sale (most sales have a website with full information). The highest should be 20%, but many will reduce that to 10%. Household items must be clean and in working order. Our website also has a coupon or two on it each month PLUS we provide discounts when you use your Stuff Etc recyclable shopping bag. We use thrift stores and charity pickups all the timethe tax savings typically netted us as much as the other options without the headache. Selling Online. Established in 1985. 21 apps for selling stuff online or "near me" in 2023. . Id love to find a place like this. Youll need antique furniture or nearly new high-end pieces. Two weeks later we found out the business closed their doors due to bankruptcy. Its unfortunate that it gets a bad reputation based on the ignorance and limitations of someone personal experience. Craigslist is creepy, so I dont sell on that site. With some apprehension, we rented an 8,000 square foot space in Coralville. In my opinion this article incorrect. You can be fashionable on a budget! Generally, it is best to price your items 50% to 70% less than the retail price. Totally worth it! All eBay /PayPal fees associated with selling the item are to be paid by me. for these links. I always wanted a run down on consignment shops. If you sell your clothes to a consignment shop, you'll probably make significantly less money than you could if you opted to sell your clothes from an online marketplace like Poshmark, eBay or Mercari. Also, donating can be pretty huge if you are already itemizing your deductions. The Coralville store alone will reach $3 million in sales this year, hitting its biggest month - $300,000 - in August. Simply put, if it looks good and tastes great, people will pay for it. If 1 tote just isnt enough then we do have the option for an appointment, which allows you to drop off 2 totes. Each Stuff Etc store takes the last 2 years style of clothing and accessories. An item costing a retailer $5 with 200% markup would retail for 5 + 5*2 . Many consignment shops offer store credit at a higher percentage than if you accept cash. We are so busy in fact, and sell item so quickly that we never stop taking items because we are too full., Perhaps you should mention that your information may only be about the area where you live and not ALL consignment shops. Considering both the consignors and buyers as our customers, everything we do at Stuff Etc is focused on complete customer satisfaction. THEY ARE AMAZING! Is it in style? Each Stuff Etc location reserves the right to return or recycle potential consignments: including clothing not in current fashion or in poor condition (fashion more than 2 years old; clothing with tears, missing buttons, stains, etc.). Come to think of it, my mom kind of runs a consignment shop with her yard sale! Please note that individual stores may vary at the managers discretion and this is not intended as a comprehensive list. In any case there will be a margin on the product. There are some scenarios (like donating an old car) where the tax-deductible receipt is a lifesaver, but I rarely actually use it. Be a shopper-consignor these savvy individuals know how to make the most of every purchase they make from Stuff Etc or the mall. Consignment Hours: Tuesday - Saturday 10am - 5pm. So from March to June we are accepting summer merchandise. It looks as though the market is pretty saturated? Email address. Thrift shops are non-profit organizations that sell items they receive via donation. Jewelry stores and antique shops both may purchase your estate and vintage jewelry either for a flat rate or on a consignment agreement. While there nominal fees for placing your ad in a newspaper, magazine or online marketplace, its usually smaller than consignments or pawn shops. We can reuse those plasti twitter.com/i/web/status/1, 12 Days before our BIG 1/2 PRICE SALE!! they are usually local, a little less creepy than craigslist cuz you can look at the other persons profile and no percentage or shipping costs! Our first storefront in Iowa City was . While you're there, ask the auctioneer how sales are promoted (online, in newspapers, and via e-mail is best) and whether they are simulcast online. SENIOR DAY:Every Wednesday in our store is Senior Day! Do I think youre getting the best for your money? Early Bird Tickets allow you twitter.com/i/web/status/1, Corporate Office YES, truly this is the most commonly asked question at Stuff Etc! Early Bird Tickets allow you twitter.com/i/web/status/1, Corporate Office I never thought of resale clothing stores as pawn shops, but technically, they are. Simply provide your zip code, and it will yield Google results for consignment shops in your area. Get monthly news, updates and promotions from our Stuff Etc locations. But unless you make a decent amount on any given sale, you could potentially make nothing. Our demand for these items is year round so consign often! Ive never seen so many play mats, strollers or onesies in one place! This marketplace will advertise your item to anyone in your vicinity. Although with Craigslist, Ive been negotiated down alot (that time i sold my xbox and all my games for $90 bucks because the buyer didnt bring enough money even though he had agreed to my listed price prior.. i was naive and didnt know that this is a common excuse people gave to sellers while buying through craigslist). So from March to June we are accepting summer merchandise. I might be missing out on a couple of bucks from that item, but Im avoiding the hassle of selling it while also helping a good cause. 2. Ive been using Craigslist and Amazon.com for secondhand sales. Bring your best items! Determine your stock agreement by discussing how many you're trying to sell per design and at what price. In other words, a consignment sale is an agreement in which a third party is entrusted with selling goods on behalf of the owner. Selling on consignment can vary in details depending on where you sell, but the gist is this: If your item does not sell, or does not sell within an agreed-upon time, typically you can get it back. Popular chains of consignment stores include: Platos Closet is a nationwide clothing consignment franchise with locations in 50 states. If you're ready to part with this . ThredUP accepts women's clothing, purses, shoes, accessories, and maternity wear. You can read more about this in one of my earlier post Finding the Right Auction House to Sell Your Antiques. In December of 2005 we opened a second Cedar Rapids store on the east side. Keep yours unique and interesting. I take childrens stuff to the consignment shop down the street 2 to 3 times a year though. The company will make an offer, and you can accept it or turn it down. Calculate A Fair Consignment Percentage. Its mind blowing. The Spruce / Ana Cadena. This increased our space to 3000 square foot (as seen here). It might be a fairly inexpensive way to learn how or if a new product will sell. Start your Stuff Etc Consignment experience now! Jewelry Consignment Percentage by: Rena. Mary Sundblad started Stuff Etc in 1985 in a . I get store credit and whenever we need something for the kids, we go there b/c we always have store credit. This can be a great way to get the most for your money at your easiest convenience! If your product is a "hot" item or helps drive extra traffic to that retailer, you can . Coralville, IA 52241, Copyright 2023 Stuff Etc - All Rights Reserved. Find your B2B customer within minutes using affordable, accurate contact data from Datanyze. I have found Facebook Yardsale sights to be the very best for selling stuff. | qazwilson, Pingback: How Can I Sell My Homemade Stuff? I havent received the greatest price for my items, but thats made up for with how little effort I can put in. Sellers get paid on a sliding scale. The standard rate for a first-time consignor with a small consignment (minimum $5000) is a 10% seller's fee and 15% buyer's premium. These posts can help you understand what you own and how much it is worth: Learn about the top online jewelry auction sites. Click on the store button to view ourfeatured products from the comfort of your home! Generally, when they sell your bicycle, they take their 50% or $10. In July of 2005 we moved our Iowa City store into a 24,000 square foot space in a strip mall at Pepperwood Plaza (once a Best Buy). Stuff Etc Quality Consignment Stores are currently Iowa's largest department consignment store group. You never know if its worth it until you try. Ive seen them in strip malls, hotel conference rooms, and school gymnasiums. The seller goes in order of interest and through private message the two agree upon a price and method of exchange, most meet in a store parking lot or other public place. While payouts vary based on the brand, quality, and type of item, Kiplinger reports that upholstered and leather furniture sells best at consignment shops. It's a win win when you shop resale! Save 10% on all ne twitter.com/i/web/status/1, We all have that pile of plastic bags we dont know what to do with! I had done it under what I think was their earlier system you ship a box directly to someone and it was a huge loss for me. Monday Thursday Stuff Black Bag Savings! Wealthysinglemommy.com founder Emma Johnson is an award-winning business journalist, activist, author and expert. You'll have to pay 3.5 percent of the sale prices of your item if it is under $500 and $17.50 plus 1.5 percent if your household item is over $500. The term second hand store can mean a lot of different things to a lot of different people. Stuff Etc Quality Consignment Stores are currently Iowa's largest department consignment store group. You can expect to be charged a 25% to 60% commission, which the shop collects as its profit. In 2000, we decided to add a second location. All battery-operated items must have working batteries in them. Online consignment typically pays via Paypal, check or bank transfer. This is the route that allows me to get the most money out of my used crap, most efficiently. Draw up a contract outlining the terms . If youre ready to part with this stuff anyway you might want to start a donation or garage sale bag as well as your Stuff Etc consignment bags so you can easily sort which items to bring into Stuff, and which you want to donate or sell elsewhere. A few days before the sale, the organizers will open the doors for you to drop off your items. I own a consignment shop that sells everything and everything. She doesnt charge a percentage, but people always give her one out of courtesy for hosting. Consign early to get the highest return on your items. There are likely luxury consignment shops near you as well. Get the clutter out of our house and get the stuff we need for the kids in exchange. Stuff Etc has an overall rating of 2.6 out of 5, based on over 25 reviews left anonymously by employees. Keep in mind, however, that you tie up your funds waiting for merchandise to be sold. If your product is a "hot" item or helps drive extra traffic to that retailer, you can start at 60/40 then maybe move to a 50/50 or even 40/60 split. A 20% gross profit for a retailer would be reduced to probably less than a 5% net profit. How many of you thought this would be our most commonly asked question? In season? If you believe that your item still has value and that someone would be willing to pay you for it, then your best bet will be to approach a consignment shop first. Similar to pawnbrokers or pawn shops, consignment shops sell secondhand items on behalf of the original owner, who receives a percentage of the selling price. 2818 Commerce Drive Corporate Office Check our consigning calendar to see when your items are accepted. TheRealReal is another online consignment shop, but this one specializes only in high-end and luxury fashion and takes a 30-50% commission. Fun, fun, fun ! Mercari is an online consignment shop where you can sell various things - from unwanted clothes to electric guitars. I do think theyre better than consignment shops. This rating has decreased by -16% over the last 12 months. Poshmark. So as you see, there seems to be plenty of opportunities to score an even BETTER deal with Stuff Etc. One of these days I will do it and might even blog about it, lol! At its most basic, it simply refers to a venue that specializes in selling items (like clothing, shoes, handbags, furniture, etc.) It's good to set a minimum price that you will not go below. In 2000, we decided to add a second location. Consignment sales are short, but intense events. Consignment shops typically take a 40% commission, which is considered a 60/40 split. We never heard from them again. Nd I will see items from Target donating to Goodwill look at Targets price which will still be on the items nd when Goodwill prices its many a few dollars difference These Stores Suck They are for the needy to be able to afford things that they cant normally buy in a Macys or whatever .!!! Plus when you are sneaking out that toy that is so obnoxious it makes you cringe every time your child plays with it or turns it on for me it is a Big win just to get it gone without the drama. I also was completely unaware that online marketplaces like craigslist, andeBay are also considered second-hand shops. Our shop in in the busiest plaza and usually has a line at the checkout. I only payout in cash. Also, find out what the house's "sell-through . All items include a $3.50 listing fee. Im in the process of starting my own online consignment store. I accept designer clothing from Old Navy type of brands. Click here to see list of stuff we dont take. 2818 Commerce Drive I'm just posting to clarify for other readers, not just 'picking'. that have already been owned and used. As the owner, youd pay a small fee to the shop as compensation for them selling your item. Also, the dealer may be a poor credit . I actually loved ThredUPs old system. I lucked out because I found a woman who had recently lost weight and was using ThredUP to get rid of her old clothing and they were exactly the size I needed. When you visit the store, the items will have an identification code on the tag to identify which account gets credit for the sale. Ask around or check your local Yelp and Google listings. It turns out there are four types of second-hand shops consignment, pawn, classified and thrift. Our customers and consignors were asking for more than children's merchandise, so we decided to branch out and make our store a department store. It started out by cleaning out my basement and selling through resale sites on line. However, I think the pawn shop description is wrong. Its a highly trafficked store, and very close to us. Bonanza is a website that allows you to list your household items for a fee. After all, if they cant resell it, they cant make a profit! If the merchandise sells, the store owner pays you less the agreed percentage and other costs. Coralville, IA 52241, Copyright 2023 Stuff Etc - All Rights Reserved. What Should I Do If a Domain Name Is Already Taken? Ive found a system that makes this a no-brainer for me. What is Stuff Etc Currently Accepting? I find that I can send less-than-perfect items to a consignment sale that wouldnt be accepted in a consignment shop. 21 apps for selling stuff online or near me in 2023. Apr 6, 2010. Some states exempt charities, others tax all resale operations. Ive read a couple articles recently about bedbug infestations and the hazards of Craigslist or second-hand purchases. 30-item limit. In 2010, we sold our very first franchise in Waterloo and opened our second franchise in Davenport in 2011. . Always list for a little more than you want to sell for in places like Craigsppl want to bargain that way you both walk away feeling better abt the deal. Corporate Office ThredUp pays up to 80% of the sale price, but the site is very picky and reviewers complain that very high-quality, in-style luxury brands are reject (or worse, rejected and then posted on sites like ebay). In a wholesale arrangement, all of your expenses and profit have to come out of 50% of the retail sales price. Some items that are BIG SELLERS for Stuff Etc are athletic wear, home decor and furniture. A great way to shop at Stuff is to pick up current styles, wear them for a season, then bring them back to Stuff as a consignor when you're ready for something new. Price their donated items?? They arent crazy about consignment shop that only sell high end clothing. Specialties: Stuff Etc is a consignment service operation that is dedicated to providing consignors the best return on their merchandise, while providing buyers with quality, low cost shopping. Click on the following links based on the store your account is located. Hi Janine, In my experience the most common jewelry consignment split is 60% to the artist, 40% to the shop.
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