There are four types of second-hand shopping systems: consignment, pawn, thrift and classified. The difference between each system is defined by three important parameters:
- When the owner relinquishes the ownership of the physical goods (bags, clothes, toys, books, etc.)
- When is the owner paid
- Whether someone helps the owner to sell items
A consignment store is a store where the shop sells merchandise for the owner. It means that the shop acts as a middleman, taking goods or clothes from the owner and then displaying it in their stores for sale. If the good or clothes are purchased by someone, the shopkeeper passes on a small part of the profit to the owner. If not, the owner can come and collect their wares without any fee or even opt to donate it. Most consignment stores charge a standard fee for keeping your clothes in their shop for sale and selling the item. For instance, if you consign to sell a flower vase for 10 dollars, the consignment shop will sell it and keep 50% ($5) as their fee. If your vase doesn’t sell you can simply take it home for no charge.
There are two consignment options for sellers. The first is to go to your local consignment store and drop off your clothes, accessories etc., or you can also participate in weekend consignment sales which are often held in public malls. Every consignment shop has a separate set of policies. It is best to search for a consignment shop in Toronto based on what policies they have and how best they can work in your favour. If you are wondering how does a consignment store make sure that you get your due? When you visit the store, the items will have a separate identification code attached to them that will identify you as the owner.
Consignment shops are locally owned businesses with a mom-and-pop feel. They set their own terms for how their consignments work, so it’s important to research the store policies before committing. When you visit the store, the items will have an identification code on the tag to identify which account gets credit for the sale.
Consignment store- Buyer’s perspective
From a buyer’s perspective, consignment stores are a great place to shop for high-end brands at great deals. Although consignment stores have used items, they are usually branded or even designer items which have been gently used and well taken care of. If you visit a top consignment store in Toronto, like Extoggery for instance, you can be sure to find even top brands like Armani, Rebbeca Taylor, Hugo Boss, etc. in their collection of items at unbelievable prices. If you are more of a seller than a buyer, Extoggery has great policies for selling your unwanted items and you can be sure to earn a good profit for your clothes. If you want to buy or sell high-end well-maintained clothes accessories or just about anything, call us today and our staff will be happy to help you.