So what is consignment and how does it work?
As a consignment dealer, We Sell Your Furniture, Inc. displays, markets, and sells your merchandise for you. In return, you will give us a percentage of the sales price. It's that simple!
It's a win/win situation! The buyer gets something practically new for a fraction of the retail price. The seller (consignor) makes money on belongings that he or she no longer wants.
What types of merchandise will you consign?
Various types of home furnishings will be accepted. The key factor is the condition of the merchandise. All merchandise must be in excellent condition.
What percentage of the sales price does the consignor receive?
The consignor receives 50% of the final selling price!
Who sets the price?
The consignment dealer and the consignor decide on a price together. Generally, merchandise should be priced between 30%-40% of retail value. For example, if you paid $3000 for a living room suit when it was new, it should be priced between $900 - $1200 at the consignment shop.
What if the consignor doesn't know the value of their merchandise?
Before you consign your belongings, it may be necessary to do a little research. If you were to buy the same item at retail, what would you have to pay? Check out the sales at various furniture stores.
What about antiques?
Since antiques increase in value, we would not price them at 30-40% of retail, but instead research their current value. Seek the opinion of antique experts before consigning these items.
How long will you hold merchandise?
Each month, merchandise will be discounted 20%. If an item does not sell after 4 months, the consignor will need to pick up their merchandise or relinquish all claims to their merchandise (unless otherwise arranged with shop manager).