INDIANAPOLIS, Ind. - With so many people being budget conscience, the popularity of consignment sales is skyrocketing!
Buying at a consignment sale is easy--just pick out what you like and compare it to retail price.
But how do you go about selling your items?
This story focuses on consignment sales for people wanting to get rid of their kids' stuff. For example, let's take the upcoming Whale of a Sale, which runs Sept. 28 through Sept. 30 at Grand Park in Westfield.
"The first thing to know is that registering for the sale is easy. There is still plenty of time to register for the fall sale. Log onto our website Whale-Sale.com, go to the consignor section and register," said Courtney O'Neil, founder of Whale of a Sale.
You create an account, then you enter everything you have in all the different categories, price your items, print and tag them at home. If you find new items to sell, you can always add those. One item that comes in very handy is a tagging gun if you have a lot of items. It attaches your price tags to the item you're trying to sell. You can buy a tagging gun for about $11. They are sold on the Whale of a Sale website or you can get them at many retail stores.
"It makes your life as a consignor very easy. it's much faster than safety pins. You put the tags right through the seam of the clothing so you're not adding an extra hole or damaging the garment. You just squeeze the trigger and it will stick the tag stick to your item, just like at a store," said consignor Michelle Goins.
And like a store, pricing is key to selling your items. If you over-price items, they won't sell. There are pricing guidelines on the Whale of a Sale website, but in general, they say to price about a third to a fourth of retail.
Many of the items at consignment sales are just like new. Michelle Goins started off by selling her kids' clothes and toys because they were no longer needed. But she quickly discovered that's not the only for consigning.
"I found you can make a lot of money! My first sale, I had a goal of making what I spent at the sale. And I'll tell you I only spent around $150 that year, but I made more than $1,500," said Goins.
The average consignor at most sales make closer to $400. Another good thing about consigning is there is no haggling, and very little hassle. Whether it's toys or clothing, there are guidelines for items that are allowed. They have to be quality and clothing items should also be cleaned and on a hanger.
"You also need to select a drop-off time when you register your items. Consignors should also check if they want their items to go half-price on the final day or if you want them to be donated, if they don't sell," said O'Neil.
That last day of half-priced deals is often highly shopped, much like the first day. At Whale of a Sale, every night they update their website on what's been sold so consignors can check online for a running total of what they've earned.