Listen and Subscribe to Our Podcast
Imagine cleaning out your closet and making money? It’s easier than you think. More and more people are utilizing consignment stores to buy and sell household items, clothing and furniture.
What is a consignment store? A consignment store agrees to sell new or gently used items at a discounted price. No money is exchanged until the item is sold, at which point a portion of the sale price goes to seller. If the item (s) does not sell within a designated period of time, the item(s) are either donated or returned to the seller-depending on the original terms of the agreement.
Most consignment stores typically specialize in a specific area (i.e. children’s clothing, women’s clothing, furniture, household items, etc.)
They are also a phenomenal way to purchase designer items at a significantly discounted price…who doesn’t love a bargain?!
If you have clothes that your kids have outgrown, or that you know you’ll never wear consider consigning them. Here are a few tips to help get you started:
- Call your local consignment store and schedule an appointment to bring in your unused items.
- They’ll tell you which items they are willing to consign and which must be donated.
- There’s usually a designated period of time in which your items will be available for sale. If they are purchased within the time frame you receive a percentage of the profits.
- Whatever items do not sell are either returned or donated to charity.
***each consignment store differs in what items they accept as well as their process, so be sure to inquire before you agree to their terms.
Below are a couple of recommended local consignment stores:
· Stone House Treasures-Wrightstown, PA
Accepting women’s apparel, jewelry, housewares and furniture.
· Milk Money Newtown -(multiple locations including Newtown, PA and Princeton, NJ)
Accepting children’s clothing, furniture, and select toys
The risk is low and the return could be great. At the very least it forces you to get the unused items out of your closet where they no longer belong.