The Guide to Selling Luxury Items on Consignment
How to Sell on Consignment for the Best Results!
Do you love owning luxury items but often find yourself in need of more room...and cash? You’re in luck - because once you’ve loved your old luxury goods and find yourself craving new finds, you can sell gently used clothes, handbags, and accessories on consignment to fund a whole new wardrobe. In fact, the second-hand luxury market is growing four times faster than the first-hand luxury market, representing a $24 billion market.
Selling used luxury items on consignment can be a fun way to make money from the items you’re no longer using. However, it is important to know whether your old luxury items will even sell. To ensure that you don’t miss out on getting the most value for your collections, you can follow these tips to tell if your item will generate interest from buyers.
Check All Clasps and Closures
When it comes time to sell on consignment, one of the best tips to ensure your items are not rejected is to ensure they are clean and in good repair before your appointment. Broken clasps and closures on clothing and accessories can both ruin its value and a customer’s willingness to buy them.
When choosing items you want to sell, ensure that everything closes, holds against reasonable stress, and does not randomly come loose. If you have a purse or wallet of high value that’s in disrepair, you can take it to a professional who can restore the closure.
Check Your Item Against Identical Ones Online
Before selling anything on consignment, it is good to search online marketplaces for second-hand goods from the same brands. If you find an exact copy of your item, you can compare yours to the one listed. Is yours in a better, similar, or worse condition?
Finding comparable items in other online marketplaces can give you a good idea about the marketability of your item. Doing this research can also ensure that you’re getting the best price for its condition.
Research the Year and Location It was Made
To help figure out the marketability of your items, you can also research the year and location they were made. The timeless nature of such goods makes some of them ideal for resale. Designers often change their production processes over the years, and luxury items often have markings or serial numbers that will tell you when and where the item was produced. Vintage items in excellent condition are highly desirable and lucrative!
Check Stitching for Rips or Tears
Anything that you sell on consignment has to be in near-perfect condition and ready to wear. The durability of luxury goods can help determine whether it is a good fit for the resale market. Is the stitching torn on your clothing item or accessory?
Small details like these are often easy to miss, but a consignment business will know how to spot them when inspecting items for resale. If you notice any rips, tears, stains, or other imperfections, you should consider having them repaired before taking them for consignment selling.
See How Many of Your Items are For Sale Online
Like any goods, second-hand items are also sensitive to supply and demand. When performing online marketplace research, keep your eyes peeled for the number of identical objects to yours listed for sale online.
High numbers of active listings could indicate that buyers do not desire the item you’re looking to part with. When a large amount of a single item is sitting on marketplace sites for long periods, there is far more supply than demand. The rarer an item is online, the more marketable it usually is, so be certain to take note of how many are out there.
List Your Luxury Items with California’s Top Consignment Boutique
The pre-owned luxury market is quickly growing, with no signs of slowing down. When looking to sell your gently used clothing and accessories, pay the most attention to what helps them sell. Perform your own market research, check to see what similar items are selling, and pay attention to how much they are selling for.
Whenever you’re shopping for new things, always take note of the resale value. By knowing how much things are worth in second-hand markets, you can make better purchasing decisions while getting the most bang for your buck in the long term. If your closet needs a clean-out, consider selling on consignment with On Que. Contact us today for more information on listing your luxury second-hand items with us.