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Consignment is dead? Not at all! The consignment industry is currently experiencing a strong revival as this well-proven way to sell antiques, jewelry, collectibles, fashion, artwork, and other valuables gains popularity. Potential sellers are taking advantage of the convenience of consigning items rather than having them auctioned off or sold through online marketplaces. These days, customers also have a better understanding of the widespread misbelief that consignment is much more expensive than auctions. If wisely chosen, a well-working consignment business may be the best option to sell your valuables.

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Consignment 101 - They Do the Authentication

The biggest challenge for most people is the authentication process. How could someone without appraisal experience or expert knowledge authenticate a vintage Cartier diamond brooch or an Andy Warhol drawing? It’s simply impossible, and even if they could, how could they make a potential buyer feel comfortable enough to trust their assessment? That’s when professional consignment solutions come into play. They will stand behind the merchandise they’re selling for you by working with many appraisers from different industries. They know exactly who to call to get the proper paperwork for your valuables so that you can get the best possible selling results. A rock-solid authentication is the most important part of a consignment transaction.

Consignment 101 - They Do the Pricing

Another very important step is pricing your items right. Well-known consignment companies like reDollar have tremendous experience when it comes to evaluating the merchandise you plan to sell. How you price your items is key, as an overpriced item is unlikely to sell, and underpricing results in unsatisfying sale proceeds. That’s another great advantage of consignment companies: they strive to get the most money for your item. The more money they get you, the higher their consignment fee will be. Consignment businesses will therefore usually refrain from selling your items for little money, whereas many auction companies try to get their buyers a great deal, as they see more value in the buyer than in the seller.

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Consignment 101 - They Team Up with You

The most underrated benefit of dealing with consignment companies is the fact that they work with you rather than against you. If you visit a jewelry-buying business, they will always downplay the value of your items to buy them from you as cheaply as possible. It’s all about buying at the lowest price, and there is no balance of power between the buyer and you—the seller. But with a consignment company, you’re a team. They will do everything they can to make you happy while striving to get you the most money for your items. If you get paid more, they will also get paid more. This gives them a real incentive to sell your valuables at the highest possible price.

Consignment 101 – A No-Hassle Process

You don’t have to authenticate, you don’t have to evaluate, you don’t have to clean, you don’t have to write a description, you don’t have to take photos, you don’t have to pack, you don’t have to answer questions, and you don’t have to deal with the financial stress. Doesn’t that sound appealing? That’s basically what well-working consignment businesses are doing. They offer a hassle-free selling experience. Dealing with financials can be especially stressful, but they'll make sure that the check received is good, the wire transfer cleared, or the credit card transaction is legit. The only thing you have to do is cash the check they put in the mail.

They’ll also take care of packing, insuring, shipping, and handling potential returns, which can be stressful parts of the process as well. It’s their daily business, and they know exactly what they’re doing.

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Consignment Conclusion

Every situation is different, but consignment is a serious option when it comes to selling valuables. Compared to auctions, consignment liquidations are faster and more effective. Auction companies spend months preparing for auctions, creating a catalog while they promote the event to reach as many potential customers as possible. A consignment company is able to offer your items in less than a week with the possibility of a quick sale. Although auction houses may be able to set limit prices, they’re usually not very happy about it. They’re working more for the buyer than for the seller, as they collect very high commission fees for every sale.

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Another disadvantage of auctions is their high requirements. Most auction places require every item to be worth at least $5,000. If you have a bigger collection to sell, some items may be worth significantly less than that, which makes selling a collection very complicated.

Consignment companies have so many more options for selling your valuables than any other type of business. They can sell on their own website, eBay, Amazon, 1st Dibs, Etsy, Ruby Lane, Chrono24, MA-Shops, and many other outlets. They also have a large mailing list of collectors they can contact specifically about your items. Their options are endless, and they really deliver strong returns. Give consignment a try – you won’t be disappointed. 

For more information, go to redollar.com.

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