Selling furniture on consignment might seem like a foreign language to some. Well it’s quite simple actually. Buying or selling on consignment has it’s positives and can take the stress out of selling your furniture. Here Merge Home discusses what consignment is the benefits to buying and selling on consignment.
What Is Consignment?
Consignment is a trade arrangement where the seller is paid after the goods provided are sold. Typically, the consignment store receives a percentage of the revenue from the sale in the form of commission. This commission is typically paid once the item or items have been sold at the consignment store.
Why Sell Your Furniture At a Consignment Store?
The number one reason to sell furniture at a consignment store is because of convenience. If you’ve got a bunch of furniture you no longer want or no longer need, furniture consignment stores allow you to conveniently sell your goods in their store. This saves you the time and hassle of creating an online ad or trying to sell your furniture to strangers. Selling with consignment also allows you to make space within your home. If you’re moving or downsizing, taking your unwanted furniture to a consignment furniture store allows you to free up space. Furthermore, selling with a consignment store gives you the opportunity to get money for your furniture as well as support local small businesses.
Why Buy From a Consignment Furniture Store?
The main reason to buy furniture from a consignment shop is the price points. Since you are purchasing used goods, the majority of the time you can get some great deals. Usually, these shops have deals on home furniture such as beds, couches, tables, chairs and more. With that being said, a lot of the furniture is a quality product. Consignment furniture stores sometimes offer a variety of unique and designer-inspired furnishings. This is a way for you to get some amazing pieces without breaking the bank. Lastly, by shopping at a consignment shop, you are supporting a local small business. Rather than buying new furniture from big-box retailers, buying from consignment stores is a way to save money as well as a way to support your community.
Consignment Payment Structure
A person selling an item on consignment delivers it to a consignment shop. Before the shop takes possession of the furniture, an agreement must be reached as to the revenue split. Most consignment shops have standard fees that indicate the percentage of the sales price that is paid to the shop and to the seller. However, many consignment shops are willing to negotiate, particularly for larger-ticket items that have greater revenue potential. Depending on the consignment shop and the item being sold, the seller may concede 25%-60% of the sales price in consignment fees. Consignment arrangements typically are in effect for a set period of time. If a sale is not made, the goods are returned to their owner. Alternatively, the consignment period may be extended upon mutual agreement.
Looking For A Consignment Furniture Store?
Offering a wide selection of gently used and creatively sourced consignment items, our Savvy Snoot selection of one-of-a-kind pieces are perfect to add to your own Collected Look. If you are looking to sell or buy furniture, be sure to give us a call today to learn more about our consignment options and percentage points. We wanna work with you to alleviate some of the stress of selling or buying furniture. Give us a call today!