11 Secrets for Consignors
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A home can quickly become cluttered with the clothes and toys children have outgrown. If you want to make a little extra money, you could consign the items. Here are 11 things you need to know as revealed during the LIVE Facebook Chat recently held with Lynn Payne, owner of Just Between Friends in High Point and Greensboro.
1. Best selling items are always clothes, games and books.
2. When it comes to pricing your items, shoppers are looking to save anywhere from 50% to 90% off the normal retail price when shopping consignment sales.
3. Separate items by age and gender to make it easier for shoppers to find the items they are interested in purchasing. The easier it is to shop, the more items you will sell.
4. It takes about 5 hours on average to thoroughly prepare for a consignment sale.
5. Consult with your tax preparer about whether or not you need to report any of your consignment sale income.
6. Retro clothes — generally those 10 or more years old — are a hard sell unless they are back in style. Be sure to look online at places like Target and Belk to get an idea of current styles.
7. Clothing items need to be clean, laundered, pressed (wrinkle-free) and on hangers.
8. Regardless of the current temperature, shoppers are always looking for items for the next season.
TOYS AND OTHER
9. When it comes to toys, steer clear of worn or heavily used items, items that have been recalled, items that are incomplete or that do not work and stuffed animals. Unless the stuffed animal has electronics inside or is a Build-A-Bear item, they simply do not sell.
10. Non-clothing items that do sell are the most current toys, games books and the like, such as Elmo, Monster High and Minecraft products.
11. Sports equipment, such as baseball and football cleats, typically sell well if they are clean and in good condition