If you’ve had shopaholic tendencies in the near past, consignment may be a good way for you to put some extra cash in your pocket. If you have some nice quality clothing or accessories that you’re willing to part with, we have some tips to help you make money from your closet through clothing consignment.

Getting Prepared to Consign

The website Onlineorganizing.com has some great info on consignment. Here is their description of what consignment is, if you’ve never tried it before:

1. you sign a contract with a retailer
2. you leave your merchandise with the retailer
3. retailer displays them for sale for a set period of time
4. if an item sells, you are paid a percentage.

What sells?

When you are looking to sell, take a look at the store you are considering. Check out the condition of other merchandise and decide if your products fit in with the feel of the store. Wearslikenew.com is an online consignment website that has some more advice. For example, most store only like “higher end and/or name brand items”! They also prefer items that are no older than one to two years (no matter how classic they are). All items need to be freshly laundered or dry cleaned and they love the top fashions and will turn away most items that are appropriate for the thrift shop.

Caveats to Consigning

Reader’s Digest did a recent article on the 13 things that consignment store owners may not want you to know. Here’s some of their insider information:

• Sellers margins are shrinking like everybody else’s: Consigners want higher prices, and shoppers want lower ones.
• Designer knockoffs are a “no-no”. You can go to jail for selling fake merchandise so they won’t take it.
• Bigger sizes sell faster. If it’s a size 14 and classic, it’ll sell. If it’s a size 6 and classic, they won’t have many customers, depending on the neighborhood.
• Clean out your closet before the season begins; that way, your fur coat or your wispy sundress gets the most time on the rack.

We hope you make some cash!

Darcy Ratner and Julie Arnheim
Founders, Rubbingnickels.com

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