How Consignment Works:
If you consign your next to new, gently worn items with a consignment store, you place them in the company's care for a limited period of time. You receive a percentage of the sale of your item, but you are only paid AFTER your item(s) sell. The consignment business generally pays 40% of the selling price, to the consignor, on items such as apparel and accessories.
Furniture items that command prices over $100 may pay up to 70% to the consignor. This varies based on how quickly furniture items move in each store. Repeat Performance has the most success selling smaller furniture items, those that sell for less than $200.
Repeat Performance looks for more upscale clothing and accessory items. If an item is purchased from Wal-Mart or K-Mart, the original sales price is usually less than $10. It is difficult to accept an item on consignment that only sold for $8 originally. For Repeat Performance to survive, we have to offer what our customers are looking for. When one can purchase a top NWT at K-Mart for $10, we can't resell them for more than $5.
Repeat Performance tracks the sale of each item, and pays the 40% or 70% based on the price the item sold for. As Repeat Performance has to respond to the marketplace, we reserve the right to discount items at a reasonable rate.
You are paid at the end of the consignment and items that remain unsold are donated on your behalf. |