Octopus Approach #7: Consignment

By | March 29, 2016

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I am a lover of eBay but I find that the expectations on eBay are not always a match with mine. People go on eBay to save major cash. When you have high-end clothing, it’s not always the best place to sell. That is when I got into consignment selling.

I found that I made more money selling high-end items through consignment than I did selling them on eBay. This is after paying the consignment commission. People stepping into consignment shops and sales know that items will be priced higher than your average thrift store or eBay site. This is because consignment events and stores are more selective of the items they sell. Many of these places often have a list of the items they will and will not accept. I still use eBay for my mass retailer clothing but prefer consignment for my higher end items.

It’s important to be selective of your consignment venues. Some consignment venues only pay back 50% of the sale price. That can be a lot of your profit.

Here is a list of some of my favorite places that have lower commissions and higher rates of return.

Mass Consignment Events: events like Just Between Friends are mass consignment events held in larger cities across the country. These events have big exposure and big return.  In a few weeks, I will be selling in a consignment event that pays 70% of the items I submit.

Online Consignment: I have been having a great time selling my items on Poshmark. You make 80% of your sales and shipping labels are included in your sales so it is easy to use. I have made several hundred dollars in one month using this method. Check out my closet!

Check out my other Octopus Approaches to Earn Extra Money:

Octopus Approach Job #6: Techie Skills
Octopus Approach Job #5: eBay
Octopus Approach Job #4: Referral Programs
Octopus Approach Job #3: Inbox Dollars
Octopus Approach Job #2: Transcribing
Octopus Approach Job #1: Cash Crate

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