Consignment stores can be tempting and they are often advertised as thrift stores. There are however a few things you should consider before spending your hard earned money in one of these shops. The following information will give you an idea of why consignment stores may not be the best place to spend your money when shopping for the best deal.
Sellers Are Unaware of the Appropriate Prices
People that aren’t professional sellers usually have no idea what their items are worth. In fact, many people are more concerned with what they originally paid for the item. It’s not uncommon for a seller to price a coat they bought 10 years ago at $50 because they paid $75 when they bought it. In other words, many consignment store items are priced well above what they are worth and this doesn’t even take commission to the store owner into account.
Consignment Stores Have a Middleman
Wouldn’t you rather shop directly with a company rather than paying a department store that stocks the goods of that company? The same principle applies to consignment stores. The person that owns the store isn’t selling the goods for free. When you buy something in a consignment store, you are paying what the person that owns the item wants to make plus a commission to the owner of the consignment store. For example, let’s say that a person wants to sell her old TV for $100 and the owner of the store has a 10% commission. This means the TV will need to sell for $110 in order for the seller and the owner to get the desired amounts.
Haggling Is Not an Option
Because a middleman exists, it is almost impossible to haggle on an item. Consignment stores often have close to 100 sellers. This means that the owner can’t simply make a decision to accept your lower price. If the item is a big purchase, the owner may be willing to contact the owner or even lower the commission on the item, but don’t count on it. Sometimes consignment stores do have sales and this is a great time to visit and look at the prices, but you will not be able to haggle the same way you would in regular thrift stores, flea markets or yard sales. While consignment stores are worth a look, you will more than likely find better prices elsewhere.