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my consignment attic

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My Consignment Attic

Classifieds Ads

How it works for the seller

It’s standard for you to drop off your items for a 30-, 60- or 90-day cycle. If your item doesn’t sell within that period, some shops will discount the item (by say, 30%), or you will need to pick it up. You can expect to be charged a 25% to 60% commission, which the shop collects as its profit. Some shops offer you higher percentages if you take in-store credit instead of cash.

Is it worth it?

There isn’t a ton of inventory in these shops, so your item has less competition, but in many cases, there also isn’t a ton of traffic coming through the door. It takes quite a while to see results from many of these shops, so it’s not a great idea if you need cash pronto.

I think consignment shops are only worthwhile if you have quality goods to sell. For clothing, you need to have high-end brands. You’ll need antique furniture or nearly new high-end pieces. Auctions are hit and miss. I’ve even found the children’s consignment shop circuit to be impossible to make money at with kids’ stuff unless you have some really high-end brands.

I avoid consignment shops as a seller, but love them as a buyer!

Classified ads are the alternative to the standard second-hand shop. They’re widely popular for eliminating the expensive middle man. While there nominal fees for placing your ad in a newspaper, magazine or online marketplace, it’s usually smaller than consignments or pawn shops.

Classifieds also provide a marketplace for items that are rarely sellable in the other shops, including RVs, collector’s items, renovation scraps or items in bulk.

How it works for the seller

The costs and procedures drastically vary from platform to platform. Newspaper spaces can cost $15 or more for an ad, while the online marketplaces can cost $1. Lake Oconee Classified .com is beloved, because it’s a completely free marketplace for selling your stuff.

The pro to a classified ad is that you have more control over your item, but that also means you have more decisions to make and more responsibilities to get it sold.

You’ll want to consider:

  • How much is the ad? Lake Oconee  Classified FREE
  • How many people will see my ad?
  • Do I know anyone who’s successfully used this platform?
  • How much time do I have to sell my item?

Is it worth it?

With other types of sales, you are paying some of your profit to businesses to get the job done. With classifieds (person-to-person sales), you can save that money, but now you are the one connecting with potential buyers, negotiating prices and handling the transaction.

I’ve found a system that makes this a no-brainer for me. I’ve learned how to quickly write ads, to know which marketplaces to sell different items in, and how to handle interested buyers.

This is the route that allows me to get the most money out of my used crap, most efficiently. As a warning, though, this type of second-hand selling can also flop if you don’t do any research.

Examples of classifieds:

 

 
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