Secrets of Consignment: How to Turn Your Kids' Old Stuff into Extra Cash
You have closets and corners filled with clothes, toys and more that your kids have outgrown. To reduce clutter, you could pass it along to other family members and friends or donate it. Or, you can use it to bring in a little extra cash by consigning it.
On February 4, Piedmont Parent Magazine co-hosted a LIVE Facebook Chat with Lynn Payne, owner of Just Between Friends in High Point and Greensboro. During the chat, Lynn shared her expertise about selling through consignment sales as well as some insight into how Just Between Friends events work.
Here is the transcript from the LIVE Chat event, lightly edited for clarity and grammar:
Welcome to the Piedmont Parent and Just Between Friends - High Point/Greensboro LIVE Chat: “Secrets of Consignment: How to Turn Your Kids' Old Stuff into Extra Cash.” Today, Lynn Payne will be answering your questions about consigning and how you can get the most money from the used clothes, toys and more your kids have outgrown.
READERS: We welcome your questions posted as comments on this post. Don't forget to REFRESH your page often!
Piedmont Parent Magazine: Thanks so much for joining us, Lynn. Let’s get started with this question: What are the best types of things to consign?
Just Between Friends - High Point/Greensboro: Everything a kid needs!
Piedmont Parent Magazine: Good point!
Just Between Friends - High Point/Greensboro: Our best selling items are always clothes, games and books.
Beth Poland Shugg: Hi there! I have teenagers now, but still have quite a few baby outfits I'd like to part with at some point. Are consigned baby clothes from 14-18 years ago still popular buys?
Just Between Friends - High Point/Greensboro: Retro clothes are sometimes a hard sell. If they are back in style, like my flair jeans, bring 'em on!
Piedmont Parent Magazine: Do you know of any websites moms can check to see what might be back in style?
Just Between Friends - High Point/Greensboro: I am not too familiar with many sites for this. Just look online at places like Target and Belk to get an idea of current styles.
Piedmont Parent Magazine: That makes sense!
Beth Poland Shugg: Very helpful, thanks!
Piedmont Parent Magazine: A parent who is new to consigning asks: How do I go about pricing my items?
Just Between Friends - High Point/Greensboro: Shoppers usually can expect to purchase items anywhere from 50% to 90% off the normal retail price at our event. If you are unsure how to price your item, we have a handy dandy pricing guide to help you decide on our website.
Piedmont Parent Magazine: Michelle is concerned about safety issues: What if there are safety recalls on toys or furniture I’m trying to sell? Am I responsible for the recalls even if I wasn’t aware? Is there somewhere I can look up recalls?
Just Between Friends - High Point/Greensboro: No, you are not but please visit our website and on the “Sell“ page there is a Safety and Recall Information link that can help you out. Your items will also be inspected when you check in to our event by our Safety and Recall Specialist. Any items that are on a recall list will not be sold! We take safety very seriously!
Pam Cat: What are you looking for during the drop off inspection?
Just Between Friends - High Point/Greensboro: We are looking to make sure the items are clean, laundered, pressed and generally that all the items are something our shoppers would want to see on the sales floor. We also check to make sure no recalled items are placed on the floor for sale!
Pam Cat: What if I miss something; do you have someone there checking for recalls?
Just Between Friends - High Point/Greensboro: Your items are inspected when you check in to our event by our Safety and Recall Specialist. Any items that are on a recall list will not be sold! We take safety very seriously!
Pam Cat: Awesome, thank you. I'm looking forward to the sale.
Piedmont Parent Magazine: Another reader asks: During February and March, what sells the best, winter or spring/summer items? And for October sales when it might still be warm out, will summer items sell or should I consign only fall/winter items?
Just Between Friends - High Point/Greensboro: We have two sales per year, one in March where we sell spring/summer items. The other is in September, where we sell Fall and Winter items. We know that regardless of the current temperature, shoppers are always looking for items for the next season.
Piedmont Parent Magazine: Expanding on the question: Are there things you don’t recommend selling at a consignment sale?
Just Between Friends - High Point/Greensboro: Worn or heavily used items, items that have been recalled, items that are incomplete or that do not work, and no STUFFED ANIMALS unless they have electronics inside or are a Build-A-Bear item.
Piedmont Parent Magazine: What is the drawback regarding stuffed animals?
Just Between Friends - High Point/Greensboro: We have found that kids play with and look at the stuffed animals but they just don't sell! Shoppers just don't buy them!
Mary Beth Nelson: Do you items such as baseball and football cleats sell well?
Just Between Friends - High Point/Greensboro: Items such as these do sell well if they are clean and in good condition. Sometimes we see these come in like they were just used that day!
Piedmont Parent Magazine: How do you handle it when items do come in and are not in sellable condition?
Just Between Friends - High Point/Greensboro: If the item can be cleaned and made sellable, we advise the consignor what they need to do for us to place the item on the floor. If something cannot be made sellable, we gently let the consignor know that this item is not in a condition to sell and offer them advice on what items we do accept. Our goal is always to help our consignors know how to place as many sellable items on the floor so they can make money and help other families save money too!
Myra Wright: Do we need to provide hangers for clothes we want to consign?
Just Between Friends - High Point/Greensboro: Yes, Clothing items need to be laundered, wrinkle free and hung on hangers. We have helpful videos on the website to show you the JBF way to hang your clothing so shoppers can easily decide to purchase them. The better they are presented, the better they sell!
Piedmont Parent Magazine: Are racks provided or do you recommended consignors invest in portable clothing racks?
Just Between Friends - High Point/Greensboro: We have racks for use in transporting your items into the event. We also have racks for you to use to hang your clothes in the event center. All you need to bring are your consignment items!
Piedmont Parent Magazine: Another mom asks: Do you recommend separating items by age and gender?
Just Between Friends - High Point/Greensboro: Yes please! Doing this makes it easier for our shoppers to find the items they are interested in purchasing. The easier it is to shop, the more your items will sell.
Piedmont Parent Magazine: Along those same lines, Karen asks: Are toys typically categorized in any certain way?
Just Between Friends - High Point/Greensboro: Infant toys and toys with small parts are always separated. We also have similar items grouped together for easier shopping.
Piedmont Parent Magazine: Have you noticed any types of toys in particular that sell well at consignment sales?
Just Between Friends - High Point/Greensboro: The most current toys, games, books and other items always sell the best. The latest and greatest items are in higher demand. Everything from Elmo to Monster High to Minecraft.
Piedmont Parent Magazine: Cheryl wants to know: Do I have to pay taxes on the money I make as a seller at a consignment sale? Do I need any kind of permit to sell?
Just Between Friends - High Point/Greensboro: No, taxes were already paid on the initial purchase of the item. There are no permits needed either! Just come see us ready to have some fun, save money on great products and also make money if you consign!
Piedmont Parent Magazine: Along those same lines, do sellers have to report what they make as income when filing their annual taxes?
Just Between Friends - High Point/Greensboro: Great question! That would be something you would want to ask your tax preparer to verify. I would never want to give anyone advice on their taxes. We are experts at consigning and taxes .... not so much!
Piedmont Parent Magazine: Leigh asks: I am interested in learning about consigning and our preschool needs volunteers for their spring sale. What kind of time commitment is involved? What do I need to know before signing up? And is this a good way to learn about consignment sales?
Just Between Friends - High Point/Greensboro: For our sale, anyone can join our team for as little as 4 hours of assistance but we welcome more! Open shifts can be seen on our website on the “Join Our Team” page. Team members help with things like setting up for the sale, helping consignors get their items placed on the sales floor, organizing and assisting shoppers during the sale and assisting with breaking down after the sale. We also have a “FAQ” section on our website. Joining our team is a great way to learn more about a consignment sale. There is nothing like being actively involved in something to learn more about it. Also, joining our team earns consignors a bigger percentage of their sale.
Piedmont Parent Magazine: It looks like we have time for one more question and here’s a good one to wrap things up: How much prep time is involved before the actual sale for someone who wants to be a consignor?
Just Between Friends - High Point/Greensboro: For the average consignor approximately 5 hours. Obviously the time can vary depending on how organized you are, how clean and complete your items are and how many items you are consigning. No matter how long it takes, this is time well spent. You get organized, remove some clutter and make money all at the same time!
Piedmont Parent Magazine: We’re out of time for today’s LIVE Chat. Thank you so much Lynn. You’ve provided some wonderful insights for potential consignors, today. And a big thanks goes out also to all those who participated with questions and comments. For more information about Just Between Friends, visit HighPointSouthGreensboro.jbfsale.com.
Just Between Friends - High Point/Greensboro: Thanks Piedmont Parent Magazine for hosting us. It was my pleasure to assist any potential consignors or shoppers. Anyone with additional questions can reach me through our website or Facebook page! I look forward to seeing everyone at the event! Lynn