I've bought and sold my clothes in consignment and resale shops for years, and I've learned any of the stores that will give you cash up front, pay almost nothing (their rationale is that they have no guarantee the stuff will sell). I actually sold in one store that gave you a choice. You could get paid per item (and it was usually less than $1 per item) or you could get 60% of what they sold it for (but you had to wait until they sold it to get the money, and they only paid out during one week every month so you had to show up during that week or you wouldn't get paid).
I chose consignment and waiting. On most items I made at least $5. So I could get $.50 to $1.00 per item if I wanted the money immediately or I could get $5 - $10 per item if I was willing to wait until it sold. I got to know the lady who ran the place, and she said that most people wanted the cash and didn't want to wait the 30 to 60 days it usually took items to sell. I found that surprising, but then again pawn shops work the same way. If you want cash up front, you have to have something really valuable to sell, and you're going to be offered next to nothing for it.
I've only sold for immediate cash a couple times, and it was during college at the end of the year, when coming back to get my checks during the summer was going to be impractical. Whatever the shop didn't want, I donated to a charity shop.
Oh, and NEVER donate pieces to a for-profit shop (unless you don't care if you get paid). Some will accept "donations" where they'll tell you they can't offer you any money for it, but they will take it if you don't want it. Some will even say or imply that donated items will go to a charity. The shop then may either sells the items (and you get nothing) or they will turn down more of your pieces because they know you will give them whatever they don't accept.
Now, I only will sell on consignment, because while you have to hope it sells and wait until it does, you usually get 40% to 60% of the selling price.
When I sell clothes on consigment, I take it to the store that sells the clothes at the highest prices in town (they don't always take what I have, but if they do, I'll usually get a good price for it, but I'll have to wait a little longer to get it). If they refuse my items, I take them to the second highest priced shop in town.... (I have three consigment stores I will deal with, and if none of the shops take my items, I donate them to the shops where I buy my clothes).
And while I sell at the highest priced consignment shops in town, I shop at the lowest priced resale shops (usually non-profit groups like Salvation Army, Goodwill and church or school run shops).
I often even make a profit. I found some very expensive brand sweaters at a church run shop for $2 to $4 per sweater, and wore them for one winter. The next summer (when the shops first started accepting winter wear) I took them to the upscale shop, and they sold for $16 (so I received $8 per sweater for $ to $6 profit per sweater).
So "buy low, sell high" isn't just for the stockmarket.
|
