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