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    1. Suzy 66 is offline

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      #1

      Tips for Selling Through Consignment!

      Hey! Im planning to earn some money by selling through consignment. Any tips or comments from experienced folks are most welcome. Thanks in advance.
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      #2
      Sure. Ive been selling through consignments for a long time now, and its quite profitable. Here are some useful tips:

      Choosing the right store: Its very important to check out the store by visiting it. This gives you an idea of its look and feel and whether its right one for your products. You should also check out the displays and pricing. You can also ask some basic questions, like how old is the store, what is the amount of products being sold as consignment, and so on. You can also check out the staff and get their opinions on the products being sold and the kind of customers visiting the store. Look for stores that attract lots of buyers.

      Products being sold: You should always look out for stores that sell products like yours. This will increase the chances of your products being sold. You cannot sell jewelry from a store that offers only clothing. So, make sure that your products match with those in the store you choose.

      Treatment of products: Always ask about how the products will be kept and protected by the store. If you sell jewelry, antiques, and stuff like that, make sure the store offers insurance as these are valuable products. You can also ask the owner to provide cases for your products to be safe.

      Display of your products: This is very crucial, as where your products are displayed is essential for sales. If you can manage to get them displayed near the windows or the entrance of the store, they stand a greater chance of being sold as thats where they get the most attention.

      Selling time: Ensure that you fix a particular time period for your products to be sold. If you leave the products without any time frame, you will lose out on the opportunity to earn. You can try another store if the products arent sold within the set time period.

      Retrieval of goods: It is very important that you have written confirmation from the owner that the goods will be returned in case they are not sold. In cases where the store is far away from you, this clause becomes essential.

      Systems involved: Stores with computerized systems are better because they will have more accurate records of sales. Also, make sure that they provide you with receipts and records of the transactions regarding your products.

      Fee details: Before you send the consignment, work the numbers. You should ask about fee. Some stores charge administration fees apart from the basic charges. Also, check the prices at which the products will be sold, the percentage that you will earn out of the sale (33 to 50%), and the duration of the consignment (say 20, 30, or 90 days).

      Terms and conditions: Always have a contract in writing with terms and conditions regarding payments, display of goods, responsibility of each party, and so on highlighted.

      Most important, its your duty to check your products and ensure that you hand them over in the best possible condition. This should also be conveyed to the owner of the store to avoid any issues in the future.
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      #3
      I see some wonderful tips here. I’m trying to sell some clothes and was wondering if consignment shops are really worth it. I have so many suits that I don’t fit into and would be really happy to sell them. But, I don’t have a clue how much time that will take and whether I should sell them through consignment or not. Can someone help me, plzzzzzzz?

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      #4
      One of the best ways to sell clothes that you are really bored of or that dont fit anymore is through consignment shops. At least you can earn something instead of just leaving them in your closet. Let me share some helpful tips with you:

      Your clothing should be in a good condition, meaning no stains, missing buttons, and stuff like that.
      Make sure what you offer matches with what the store is looking for. Some stores sell seasonal style clothing, and your clothes may be for some other season. Also check sizes, age groups, and genders.
      Choose a store that is near your, which makes it easier to visit and get to know the staff. This helps you to sell your stuff faster once you develop friendly relations.

      Once you do your research in choosing the right store, selling through consignment will be very easy. Good luck!

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      Thanks a ton for sharing these tips. Will definitely give it a shot!

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      #6
      I’m not aware of what consignment selling is all about. Can someone tell me?

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      Sure. Consignment selling means lending your products to a store owner to sell them to the end user. The retailer displays your products in the store along with the other products. The owner also decides on the cost involved and the percentage that will be given to you when your product is sold. The percentage can be 25, 33, or 50 depending on the store, the condition of your product, and how you negotiate. Its a great business model as it helps you to sell your used products through a variety of stores and markets.

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      Oh, OK. Now I understand. Also, when do you decide to sell through consignment? Any advantages in particular?

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      You can opt for consignment selling if you are looking to sell used stuff in particular. Its in demand these days as its easier for retailers to get products without any major investment for their stores. You can also earn well if you decide to sell something valuable through consignment. It is always a viable option when compared to selling to individuals.

      The main advantage is that you dont have the hassles of paying rent, maintaining a staff of employees, overhead, and so on. All these are managed by the store once you sell your consignment to them.

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      #10
      That’s great. Really appreciate the response. Very helpful indeed!

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