Consignment Cash

Consignment!!! Cash$$$$
There are several options for realizing cash for gently used clothes. Two that I am aware of are consignment and selling on-line through a website like e-bay.

I've always given away my clothes, but this time  I decided that some of my clothes had hardly been worn and it did not seem quite right to give them away.  My thinking may also have been coloured by the fact that I was feeling that the items in question had been purchased by mistake so the idea of cash was a way at redemption.  Or so I thought,  as the dollar signs started floating in front of my eyes

The real story is a little different.  This is a true study in supply and demand economics. For this little adventure I decided to go to Second Nature Boutique on Mt Pleasant,  a store that I have passed by for years and always been a bit curious about.  Here is what I learned:
1. Clothes can not be more than two years old
2. Good consignors are extremely picky-they demand the clothes be clean and in good condition
3. The price they are willing to sell the item for will be deeply discounted from the original purchase price
4. You will only get 45% of the final sales price
5. There is no guarantee that the item will get sold and you only get paid if the item is sold
6. You have no control over the price once you hand over the goods-the market decides.

I brought the following items
1. Tory Burch 2009 Spring/ Summer jacket -white with purple and charcoal grey detailing and buttons. Would look great with white pants and a white shirt.  Retailed for about $575.00
2. Missoni Tank top. Purchase in Florida in 2006. Retailed for about $160.
3. Teenflo 3 peice suite purchased in 2007. Retailed for about $700-$800.

Here is what the consignment shop offered for each item:
1. Tory Burch Jacket $200 to start.
2. Missoni Tank Top $65
3. Teenflo suit 3 pieces for $275.  Each piece could also be sold separately.

I''ll get 45% of this if I am lucky, so $200 and change.   From this, I need to subtract the $51 I paid to have the items dry cleaned. All in I'll get about $150. You might be able to get away without the dry cleaning but you'll need to take good care of your clothes.

Since I'd never been to a consignment store before I took some time to look around. Everything was in great condition and nicely displayed. The staff was courteous and professional.  There were some beautiful Prada bags and a pair of 7 year old Miu Miu sandals, that I in fact own! These were priced at   $65.  So when does something become Vintage? When will it go up in value? Good thing I love them even though I've hardly worn them - looks like it will be a while!

Next time I might try e-bay. I'll have more control over the price and I would consider having the purchaser pay the shipping or at least include it in the price.