Former_Member
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Help!! Consignment

I have been offered a chance to sell some of my items in consignment and I have no idea what that means or what to do. Does anyone who does that have advice, especially on how payment is figured out and what is fair. Any help at all would be greatly appreciated.
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Re: Help!! Consignment

Personally I don't like consignment because things can get damaged or stolen and I've known people to have shops close and not get product back. However, if you choose to do consignment, I would do so locally only so if there are problems you can easily take action if necessary. Also be sure to get a contract that both parties sign. It should include how and when payments are made, the percentage, and cover who's liable for lost/stolen/damaged merchandise. Generally consignment is 60/40 in favor of the seller (you) but some offer as high as 70/30. I wouldn't do 50/50 for consignment - only wholesale. Hope this helps.
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Former_Member
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Re: Help!! Consignment

Are there consignments shops on Etsy? That seems a little crazy.
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Former_Member
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Re: Help!! Consignment

Thank you for the advice. It is only for one bazaar but it is in a very affluent area here in Dallas for a women's group and the exposure would be great.
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PoetryUnspoken
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Re: Help!! Consignment

Great info ~ I've been wanting to find out who would take the loss if items got stolen at a consignment store. From Soapdeli's comment it sounds like the product owner would have to take the loss if that was the case (right?) Thanks for the thread :)
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Re: Help!! Consignment

I think it is worth a try. Depending on how quickly you anticipate your items to sell will determine %. They longer they house your items the higher % they may want. Quick turnover benefits both so % should be more equitable! I wish you well.
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Former_Member
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Re: Help!! Consignment

Thank you everyone for the advice. The bazaar is only for one day, for a couple of hours. I am mainly thinking of doing it for the exposure. What would be an equitable percentage for that?
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Re: Help!! Consignment

rubisartnmore says

Great info ~ I've been wanting to find out who would take the loss if items got stolen at a consignment store. From Soapdeli's comment it sounds like the product owner would have to take the loss if that was the case (right?) Thanks for the thread :)
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It should be the shop owner who's responsible for the loss. But you have to have it in writing to avoid getting screwed over.
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Re: Help!! Consignment

mylittleangelco says

Thank you everyone for the advice. The bazaar is only for one day, for a couple of hours. I am mainly thinking of doing it for the exposure. What would be an equitable percentage for that?
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I think the bazaar sounds like a fine idea. I'd say 60/40 is fair.
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Former_Member
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Re: Help!! Consignment

Am I supposed to mark up my prices so that the percentage will take it back down to normal prices, or do I leave it at normal prices and just take a cut in profit?
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Former_Member
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Re: Help!! Consignment

Just like Rebecca in Soapdeli says, your items CAN get stolen, damaged or may not even sell but, then again, it may. If you decide to do it, I would not give them no more than about 3 to 5 items at the most to see if it sells. You can always pick your items up at any time if you feel they're not selling like you would like them to. Good Luck and Many Blessings to you,

Sheila
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Re: Help!! Consignment

i have some of my aprons on consignment here in austin, the percentage is 70/30, and i made sure it was written in our contract that the shop is responsible for paying me back for my item if it is stolen, damaged, etc.
i think it's worth a try if you feel protected......just a few items to see if they sell.
i'd rather just sell on etsy, but things are a little slow for me :(
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