Dear Budget Fashionista I have too much stuff, great, designer stuff, but too much and would like to sell them to make some extra cash. I’ve heard about consigning items. How do I do it?
How to Consign Your Clothes
Élan Barish, consignment expert and owner of thestashconsignment.com, gave us the following tips:
Consignment stores resell previously purchased items. If you are considering consigning, here are some tips to figuring out WHAT to consign:
1. Do you have totally chic and classic items like Chanel and Hermès because they pretty much sell themselves. As do those “it” bags that some see as seasonal and others see as timeless.
2. Think about would this be something YOU would want if you came across it: Is the condition good? Are there stains? Has it been dry-cleaned so much it shines?
3. Would you be happy never ever to see those items again and instead receive some cash for them?
If you’ve answered yes to any of the above questions, then you are a great candidate to consign. Most consignment stores accept items for a period of a season, so don’t bring those white Chloè slacks in mid-December. Also, please understand you are RE-selling your items, so even with a tag still hanging, the item will be drastically reduced – sometimes as much as 75%.
Once the consignment store has decided to accept your items, they will generally offer you a 50/50 split- many shops will allow you to negotiate a higher fee for high end, designer items. So, for example, if the determined price is $100, you will receive $50. Now, you may say, wait – I paid $400 for that and I am getting only $50? Yes, you are getting $50, but remember that the price you paid for your item may not be the price that someone else would pay for the item (plus it is used).
Think about consigning as an exercise in karma: by simply cleaning out your closet you not only get personal rewards, but you also help other fashion lovers buy something they never thought they could afford.