A few weeks ago we started a series, Money Saving Monday, to help motivate each other for the 52 Week Money Saving Challenge. To stay motivated, each week we share some tips on saving money or earning money. This week we are sharing how to save or earn money through a consignment shop.
If you ask a fashion expert where to find the best deal on brand name clothing or accessories they will probably respond with the name of a consignment shop. Faced with an economic meltdown, bargain hunters are tossing aside department store coupons and heading to a local consignment stores. Shoppers can find steals on high end items by big brand designers like Coach, Calvin Klein, Louis Vuiton, and Prada just to name a few.
Consignment shopping is the new black for retail shoppers. Years ago, people would be embarrassed to shop second hand, but now are bragging about their finds and the money they are saving. It seems that people are trying to upstage each other with finding the best deals. Not only will you be shocked by the price tag, but also by the quality of the item. Most items still have original price tags attached. Consignment stores are selective about the items that they sell and make sure they are in good shape and authentic brand names.
For those who can’t get out to shop second hand, consignment stores have gone digital and are offering sales through a website or even facebook. Stores such as thredUp offer discounts on kids’ second hand clothing.
What can you buy at a consignment store? Many stores to specific market for women, men, or children and sell mostly clothing and accessories. Think about buying a $300 Coach purse for only $40 that is in excellent condition. Buying second hand is a terrific way to save on kids clothing, since most of the clothing is still in great condition. Looking to buy a gift? Rather than overpaying at a department store, stop by a consignment shop where you can find some great costume jewelry for under $5. The advantage of buying in a consignment shop is that every day there is something new but the disadvantage is that items sell out very quickly and only come in one size.
Consignment selling is a great way to earn extra money. People who previously gave away clothing are looking for an opportunity to cash in on their unwanted clothing. A consignment operates by splitting profits 50/50 with the original owner. It’s a great way to earn money on items that are just sitting in a closet. Most consignment stores require an appointment to review items, but some may also be looking for specific items. I recommend calling ahead and make sure that the items are in good shape. Last year I made over $200 by selling unwanted clothing. It’s worth checking out by calling for more information to find the right fi for you.