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What is consignment and how does it work?

If you are weeding through and letting go of some stuff, there are various options for where your stuff can go. One option for getting some money for your stuff is to consign.

Consignment is where someone (usually an entity/business) offers to sell your items for you in their store or other place of business. In exchange for selling the items for you, they take a percentage of the sale price. The percentage is used to cover overhead such as employees, advertising, marketing, rent, etc.

Consignment can also be done through virtual internet stores too.

Often times, people hesitate consigning their items because the consignment stores take a percentage. While consignment stores do make some money off your items, the percentage they keep is not 100% pure profit for them. As noted above, they have overhead expenses and those overhead expenses are used to draw in the most market of people to their store so they buy your items!

If you choose to try to sell your items all on your own, consider how much it will cost you to advertise the items, store them until they sell and your time to be available fielding telephone calls and visits to 'look at' the items. If you don't have a guaranteed steady steam of traffic each day coming to your home to 'look at' your items that are for sale, your market of reach is probably much smaller than a consignment store.

It is recommended you weigh the costs and benefits of consigning. Kid's clothes, toys, books and videos generally do fairly well on consignment. Some household items are also a pretty good option for consignment. As a general rule, men's clothing does not sell as well. Keep in mind most consignment stores only want clothing styles from within the past two years. Likewise, household items that are too old or well used, might be rejected.

Many folks also love to shop at consignment stores. It is a great way to reuse, repurpose or recycle the items we already have in our society. It's a great Green thing to do!

In a few short weeks, there will be a Consignment Event in Cedar Rapids, Iowa called Weetail. Weetail includes kids clothes, shoes, toys, videos and more. It takes place for only 3 days. Access the flyer for the event here. You might want to consider consigning in addition to shopping!

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