Browse Tag: consignment

Year End Consignment Update

Thrift Spending:

December 1st – $0
December 7th – $0
December 14th – $43
December 21st – $0
December 28th – $11

Total purchases: $54

Total income: $770

Number of items consigned: 34

Consignment Income $770 – Spending $54 = Month End Balance $716

A Year In Review

In 2016 I consigned 1044 items (say what!) and made $9244 return, but I spent $719 on goodies throughout the year. My best sales month was June with $1136 return and my worst month was February with only a $324 return. Holy moly! Every month I get increasingly better with my consignment choices but as you know most of it is just pure luck. You never know if Cinderella will walk into the store and find your items or not.

I feel like I am becoming more and more aware of my style and budget, really deciding if I want the item before I buy. I used to be more free spirited about it and think “Oh I’ll just consign it if I don’t like it”… but then you’ll discover a stain or a rip and you can’t consign it. Its a challenge with every haul there are going to be sacrifices as you can’t always closely examine every square inch of everything you buy.

All in all it was a very successful year for the challenge, I only blew my goal once or twice, ultimately coming under my goal (often by a long shot). In looking at the numbers every month it gives a better idea of the “best case scenario” of using consignment for your unwanted clothing and a little extra money. It also shows you that you can’t be upset with not making a lot on each item, many of the items I sold I got under $5 for. At the store we always say quantity is everything – because it is. You can’t expect a huge dollar value if you have only a handful of items for sale. If you have a lot to get rid of you’ll see a higher number. But then again, its all relative.

Financials Behind Consignment, The Gamble

To explain the numbers when thinking about consignment I’m going to use the information from one of our “shopaholics” who often brings $3,000 worth of brand new items in one session to start my post.

First let’s talk best case scenario, you’ve managed to snag a brand new winter coat by Flash that’s 90% down-filled and super light. The new price tag on it says $475. At a consignment store like the one I manage, arguably they would price it at 1/3 of the retail value. In this case due to the new tags and high value, we price it slightly higher at $200. Assuming this coat sells at regular price, the consignor receives $79.

A more likely item is a heavier fall weight, wool blend coat from RW&Co regular retail about $150-200. We have it priced at $60, it sells the same day, the consignor receives $23.

A pair of used UGG boots, visible water damage on the toe area, regular retail $200 we would normally price around $60 if it was mint, but these are not, so we price them at $40 with an “AS IS” condition note. They sell at $40, the consignor receives $15. Continue Reading

Ottawa Thrift Trip

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I have skipped plenty of Value Village half price weekends this year as sometimes thrifting loses its thrill when the price points start creeping up and I don’t see the value in it. Last weekend I decided to spontaneously treat myself to a morning away (as in a two hour drive) to Ottawa to hit up the Value Village circuit for the Super Saver’s half price day. I like to be there for 10:00am when it opens that way I can get a cart and the clothing isn’t absolutely everywhere as per my second stop an hour later.

ottawa3 By the time I get in there are already women rummaging through every row so I get in line as it were and start the plunge. I thrift to resell far easier than I thrift for myself. I know at this stage of the game what will sell the fastest and what the women in Kingston are looking for. Mainly tops, bright prints and clean lines. I spent $180 in the first location I stopped at, which is over $300 in product, roughly $3 per item! The most expensive item I bought was $20, so I paid $10… I flipped this wonderful item at the store within two days to bring home a $40 profit!

I was hoping to turn a profit on a Kathy van Zeeland bag I found for $6… unfortunately even after examining it I realize the shiny finish was completely peeling away. Can’t imagine how I would have missed it in the store as I comb through everything after discovering these items. Sadly not much you can do but shrug your shoulders and toss it.

I have two favourite finds at the end of this haul: a nameless white lace long sleeved mini dress and a vibrant neon print dress by Sandra Angelozzi. I paid $3 for the white number and wore it the next day, I had not expected it to even remotely fit but my gosh its a beauty!

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The neon print dress the cashier commented on how she loved it but donated it because the top was too gappy on her – it was on me too always is! So in the early hours of the morning before work I took it up in the shoulders as I so often do and it fits like a dream. After wearing it over the course of a regular busy work day I discovered it is not so good for bending!! I checked out the brand online and Sandra Angelozzi dresses range in the upwards of $200 ballpark! Not bad for $6!


Tips for Consigning Clothing

pricetagsRemove the sales tags if it shows a low value or a price sticker.

    I collected a few sales tags to show you what people leave on their clothing that they are bringing in. “Outlet $9.99 Compare at $19.00” “Value Village $5.49” “Value Village $9.49” If the store prices based on a 1/3 rate of the retail value an item with a price tag of $5 would have to be sold at $1.60 of which the consignor would receive .64 cents. That is assuming the prices don’t drop or go on sale.

    It is in your best interest to remove the label from the inside, play on the fact that most people wouldn’t know the item is from Streetwear Society or George. At the very least remove the price tag. I find a lot of women think that because their items have original sales tags that it will increase the value of their items, it does not in most cases. The only instance where it would is if the item is an expensive highly sought after item such as a Lululemon jacket ($250) or Frank Lyman dress ($200).

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Monthly Consignment Update

Thrift Spending:

June 1st – $0
June 6th – $0
June 13th – $0
June 20th – $0
June 27th – $0

Total purchases: $0

Consignment Income:

June 1 through 5th – $133
June 6th through 12th – $362
June 13th through 19th – $250
June 20th through 26th – $306
June 27th through 30th – $85

Total income: $1136

Number of items consigned: 80

Consignment Income $1136 – Spending $0 = Month End Balance $1136


When you buy a house your priorities change. What can I say? I turned my focus 100% towards renovating and moving into my new home and completely ignored the thrift stores. I imagine the day will come when I feel the urge to shop, but right now I am looking at clearing out – styling what I currently have and making my yard sale finds new!

Monthly Consignment Update

Thrift Spending:

May 2nd – $21
May 9th – $42
May 24th – $18

Total purchases: $81

Consignment Income:

May 1 through 8th – $224
April 9 through 15th – $140
April 16 through 22th – $120
April 23 through 31th – $271

Total income: $755

Number of items consigned: 70

Consignment Income $755 – Spending $81 = Month End Balance $674


Wow this month I spent $11 over my budget with mostly housewares and a couple resale items that I sold at the store. All in all I’d say that’s not too shabby! I consigned less items this month and made roughly $100 less than last month. We can’t always have record-breaking months!

 

Monthly Consignment Update

Thrift Spending:

March 28th – $34

Total purchases: $34

Consignment Income:

March 1 through 6th – $141
March 7 through 13th – $241
March 14 through 20th – $269
March 21 through 27th – $148
March 28 through 31st – $133

Total income: $932

Number of items consigned: 144

Consignment Income $932 – Spending $34 = Month End Balance $898


I’m at a loss for words what can I say? When I set my mind to do something I follow through full tilt. Since deciding to purchase my first home (which I haven’t found yet!) I have completely put a halt on my spending. I visited Value Village maybe twice this month and only spent $34… I also sold some items on Kijiji which just increased my home savings.

I think the boost in sales is mostly in part to finally being able to consign spring items which in my opinion sell far better than anything else. Everyone here is chomping at the bit for warmer weather and sunshine! It does pay to save your off-season items!

How Consignment Works

I am often asked about how I can afford to thrift as much as I do, they suggest my wardrobe is massive and bursting at the seams. I buy a lot of clothes, that we will admit up front. But I am buying clothing at a fraction of the retail price so you need to change your way of calculating. I only buy secondhand knowing that I get bored of things and change my style frequently. I also have the ability to open up my closet on any given day and pull out a ton of pieces that are not screaming my name.

Most people are not able to be this brutal as most people think of how much they spent and have an emotional attachment to things. The most emotional attachment I have ever felt with clothing is my inability to wear it after experiencing something traumatic or unpleasant in that outfit. For instance if someone broke your heart and the red dress was their favourite, you’re not likely going to want to wear it again because it will remind you. I have had a few items that have been tainted by experience so I need to remove them from my closet.

Don’t get me wrong I do donate a lot of items, but many items are still in great condition and worthy of generating extra cash. In working at a consignment store I know exactly what to look for and what will sell to our clientele. Each store has its own processes and requirements, so I can only speak to our way of doing things. Let me tell you a little bit about how consignment works.

Lightly worn items are brought into the store clean, pressed and ready to go on hangers. These are items that are in style, in season and purchased within the last two years. My job is to analyze each item that is brought in to decide if it is suitable for resale, quality and if we would potentially have a buyer for it. Once I decide to keep an item I change it over to our hangers and double check that there are no stains, rips or flaws. Once I have processed all the items I return the hangers along with any “no thank yous”. Continue Reading

Monthly Consignment Update

Thrift Spending:

Value Village on February 8th – $34
Value Village on February 10th – $18
Value Village on February 14th – $14

Total spending: $66

Consignment Income:

February 1 through 7th – $39
January 8 through 14th – $125
January 15th through 21st – $25
January 22nd through 29th – $135

Total income: $324

Number of items consigned: 54

Consignment Income $324 – Spending $66 = Month End Balance $258


I announced last month I would have a new goal of $70 per month for thrifting purchases and I managed to come in this month just under the wire! I’m quite proud of my spending, I have definitely curbed it for the better. Being very particular about my purchases and increasing the rate I consign to generate more income. I have also noticed a sizable increase in the prices at Value Village once again this month so that is also a buzz kill.

Hurry Up Spring!

feb19finalWorking in a retail setting that doesn’t follow the mall’s idea of “seasons” where they bring in the summer stock in March and Christmas stock in August… we operate based on the weather so naturally mall shoppers will walk in and assume we are taking inventory for the next season. Our shoppers like to be able to wear the item today, not a few months from now. My greatest peeve all year round is how much people complain about the weather, maybe its just in Canada where our weather fluctuates high and low but that seems to be everyone’s favourite topic. Right now with 5 foot high snowbanks and a record 45″ snow fall this week people are saying things like “well Spring is nearly here!” … sorry to be a realist but if you think Spring is nearly here I would suggest you look outside!

What is tough is following women on Instagram that live in the lower United States, as their seasons seem to look like summer all year round its only their choice of clothing colours that seem to change to define the season. Seems odd to me, if it was sunny and mild all year round you can bet I’d be wearing bright colours all the time!

feb19final2I am however, loving the pastels right now even though its not a reflection of the season. This week has been horrendous with a snow day, pipes freezing in -30 degree weather and daily snow shoveling is beyond exhausting. I wanted to try out a new look that wasn’t planned using this new scarf I picked up at The Store. I won’t go into another rant about the size the arms are being made on blouses but basically two I picked up recently that were MEDIUM I couldn’t fit my arms into – so the original outfit was spoiled – TWICE. New plan was to use another favourite that does fit.

Now matching the colour in the scarf was tricky because I wanted to wear pants (-19 you know) but black was just too stark. I picked up these jeggings by Mossimo in a mini thrift haul last week that have already been a bit of a challenge. I decided last minute to bring a belt as I haven’t worn them before and not too sure how they will stretch. Sure enough I barely got to work before they were falling down. Funny you know, how you can struggle to get these tight pants on in the morning then twenty minutes later they’re falling off your bum. It seems I just cannot win when it comes to pants. These will be the next pair that need to be taken in at the bum!

 

Tips for Thrift Shopping


If you cannot view the video above, please check it out on YouTube: https://www.youtube.com/watch?v=TwYxutG-jJg

The number one question a thrift-lover is asked on a regular basis is: “How do you ever find anything?!” The thing about thrifters is we don’t see these shops as gross, we look past the scent lingering in the air from unwashed clothing, we see the limitless potential in every piece we see. The fun is in the search, the reward is discovering that magical piece whether its clothing, home decor or furniture. In these stores it is all one of a kind and to me, that’s something special.

I’ve watched plenty of YouTube videos and read plenty of blogs regarding the do’s and don’ts of thrift shopping. They all have similar points but a few I would disagree with based on how I go about it.

Try it on or wear your thrifting uniform

I used to load up a cart with items that looked like they would fit, I was pretty certain I was about this size and if not well I didn’t spend much so it’s okay. Its this attitude that gets you spending and wasting. More recently I have been taking the time to try things on, even if its just over top of my clothing. Now I don’t have a thrifting uniform (leggings, tank top as your base layers with easy to slip off shoes) I just go after work so whatever I’m wearing is how it is. Granted, this doesn’t make it easy usually for trying things on – so I have to really love it before I go through the effort in the change room.

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Thrift Challenge January

Thrifting Purchases

Week of January 8, 2015 – Total: $20
Week of January 14, 2015 – Total: $5
Week of January 17, 2015 – Total: $6
Week of January 22, 2015 – Total: $20
Week of January 29, 2015 – Total: $31

January Month End Total: $82 | Goal: $80 | Overbudget: $2

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