Consignment vs quick sale
A new high paying job, a new house, a divorce, greater or less income, inheritance or just wanting all new stuff are some of the events that trigger people wanting to reduce their current load. But what are the benefits of consigning furnishings, accessories, designer items, fur coats, fine art, fine jewelry and alike?
One of the main reasons people choose consignment is because they don’t have to deal with strange people coming into their homes. Now-a-days, especially in high value areas like Palm Beach, New York, Beverly Hills, Newport Beach, and alike, this is a serious issue. Criminals are known to watch for high value item for sale in high profile neighborhoods so having your items offered for sale in another location is a great value on its own. Secondly, if your not in a hurry you can wait for the perfect buyer and get as close as you can to your desired price.
Most people also just want the cash, rather than doing any kind of trade-in or store credit with a jeweler or gallery.
Often times people are just wanting to change their decor and buy all new or sell a few of their designer handbags that are a few years old in favor of the newest styles. Same with jewelry. One client of ours had a custom made diamond necklace made, then someone in her family liked it so much, she had one made too. Our client was not happy so she consigned the necklace with us, and once sold, bought a HUGE 50 carat diamond cuff bracelet. Plus we all know that the ‘neck’ is the ‘first to go’ so she is now much happier with her new bracelet rather than having people look at her neck.
When consigning furniture, brand name and condition is most important. Consignment is a great option so other families can then enjoy them. Then their funds from the consignment are used towards the new furnishings. A win-win for all.
Designer items are often bought, used a few times, and then buyers remorse sets in. We have seen this with Nancy Gonzalez handbags, Chanel items, and fine jewelry. People get caught up in the retail moment, just can’t leave behind the beautiful items, and later realize it was a mistake. Consignment is a great option to compensate oneself for items that were purchased in error.