In my previous post about smarter grocery shopping I mentioned I'd be doing some things to make a little extra money in the coming weeks. I wanted to tell you what I'm doing, share with you where I'm doing it, and give you some ideas so you can see how you can possibly make some extra cash, too.
We all know it's possible to make some extra cash through yard sales, but have you ever sold anything through a consignment shop or sale? That's exactly what I'll be doing. Each year there are quite a few different consignment sales in our area. A couple of the biggest ones are The Exchange Consignment Sale (coming up Aug 27-29), and the Upstate Kids Consignment Sale Event. This is the first time I'll be participating in either although I've shopped at both in the past. Last year I found a practically brand new diaper bag, and a still brand new never word pair of women's rain boots at The Exchange Consignment Sale.
Why choose consignment sales? I'm choosing consignment sales for three reasons. First of all you've got a larger group of shoppers viewing your items. Sure, you have to give up a percentage of your earnings (you usually keep between 65%-75% of your earnings), but you can find yourself making much more than you would at a yard sale because you have more buyers.
Secondly, it's a time thing for me. I just don't have the time right now to go through all the preparations for a yard sale. Then there's no guarantee that shoppers will actually show. With a consignment sale you can tag and sort your items as you find new things to sell. You don't have to worry about advertising, set up, or any of the other things that are involved in a yard sale. You also don't have to do the selling. You prepare your items, tag them, and drop them off. The consignment sale team and volunteers do all of the setup and selling, and when the sale is done you pick up your items or have them donated to charity for you.
The last reason comes from the experience of other sellers I know who have participated in these consignment sales many times in the past. Let's get back to the making more aspect. As I said you will usually make 65-75% profit on your items, and you can make more for volunteering in various ways. You may think "I would rather get 100% profits doing things myself", but other sellers have told me they can price their consignment sale items at a higher price. Let's face it. Yard sales mean one thing...CHEAP, and everyone knows it. Customers want to haggle until you sell them an item for next to nothing. At the consignment sales you can price your items at a fair price, and you're more likely to get that price. Customers know the items will be discounted, but they won't stand there haggling with you until you're blue in the face.
Another upside to consignment sales is that many of them target a specific group of people looking for specific items. The Upstate Kids Consignment sale is an example of this. The sell is for parents to buy and sell used baby and children's items, and that's it. You know your demographic, so it's easier to sell specific items that people may not be looking for at a yard sale.
Now that I've talked about the selling aspect let me remind you that these sales are also a great place to shop, especially when it comes to the children's sales. I wouldn't even be able to list all the wonderful things I've bought at the children's sales that I would have paid double for in the store. We all know babies especially don't use their stuff very long before outgrowing it or losing interest. Most of the items at these sales are practically brand new, worn only a few times, and packed away because there is no longer a need for them.
The quality of items found at these sales is also much better than what you might find at some yard sales. There are standards that must be met for each item before it can be sold. For example, you won't find baby clothes with stains or junk items. If it's not in a condition you would use then it's not something you can sell. You can check this link for an example of the type and quality of items accepted to the children's sale.
I honestly can't wait to participate in my first consignment sale. I have plenty of items to sell, especially baby items, and I'm looking forward to getting some of them out of my house. Whether you're looking to buy or sell I suggest searching for consignment sales in your area. They are a great place to make money and/or save money while supplying used items to people within your community.