In a weak economy, consignment stores are booming. / :JOOS MIND/GETTY IMAGES
We all have ghastly purchases clogging our closets.
Add a weak economy and it's easy to see why consignment stores are booming — up 5% in number each of the past three years, says the National Association of Resale and Thrift Stores. They're the ultimate recyclers.
“It's a guilt-free way of cleaning your closet,” says Carolyn Moss, veteran consignment seller and former fashion editor at retail analyst Tobe Report. “It's also a game.” You play with a partner; the retailer displays your items for an agreed-upon period, then splits proceeds with you (usually 50-50). It's a win-win-win for the seller, the store and the shopper, who is paying discounted prices. Unsold items are returned to you or are forwarded to charity.
Follow these pro tips to buy low and sell high.
Buy low
Take your time. Most sales are final, but some consignment store managers let you take a lamp or rug home on approval. Hold off on buying large furniture; it sells slowly and often at discount, says Stan Williams, elegantthrifter.com blogger and co-author of The Find. "If you lose out, there'll be another deal." Bargain on everything.
Be picky. Look for tears, alterations, stains and crackled glaze, which slash worth and longevity. Sit in chairs and lie on sofas. "If something creaks, moans or wobbles, it might be damaged," Williams says. "And any odors will be amplified at home."
Befriend store managers. "Once they know sizes and styles you like, they may alert you before items hit the sales floor," says Emma Sosa, vintageshopping instructor at New York's Fashion Institute of Technology.
Size it. Bring color swatches and samples in a child's size and try on before you buy. Measure floor or wall space before buying furnishings.
Reach for the stars. If you live near celebrity locales, you might find their discards, Moss says. "My daughter-in-law has gotten great deals thanks to women who refuse to wear a designer gown twice." Appreciate any treasures, says Christos Garkinos, co-owner of L.A.-based DecadesTwo, which sells top-tier luxury consignment clothing. "They're pre-loved. And the seller could bring in more items. You may have found your style soul mate." Welcome to paradise.
Sell high
Find the right home. Shopkeepers specialize in styles, labels, eras and sizes. "Thrift stores take almost anything, but consignment stores are more discerning," Williams says. "With furniture, they're more willing to take lamps vs. big pieces." Profits spike in shops with great displays and websites. Negotiate placement and return to check.
Time it. Call to learn how much consignment stores accept at any one time. To get top dollar, bring fall clothes before September, and bring summer clothes before March.
Make items pageant-ready. "Appearance is critical," says Marshal Cohen, author of Why Customers Do What They Do and chief retail analyst at market research firm NPD Group. Clean and press clothes, polish furnishings and bring the original boxes and price tags to help boost value.
Price it right. Visit websites such as eBay and firstdibs.com to determine your item's value. Most garments get one-fourth to one-third their original prices, and home decor one-tenth. "It's like new cars," Williams says. "The second they leave the showroom, their value drops 60%. But why not get $100 from a consignment store?"
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