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A consignment invoice is a billing instrument used by third-parties (thrift stores) to charge sellers, normally a fee or a percentage) for their help in reselling valuable goods.
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Consignment is the process of bringing valuable goods (clothing, furniture, and jewelry) to a third party, a thrift store for example, to sell goods in exchange for splitting the profits. Consignment is used especially when items have considerable value and branded as a luxury item. Because stores will not buy used items back, thrift stores will help people sell their items in exchange for taking a fee or for a percentage of the sale’s price.
It’s important not to confuse donation stores such as Goodwill or the Salvation Army as consignments stores because unlike thrift shops, donation stores do not split the profits of items sold. Instead, donation stores/centers allow donors to receive tax deductibles from items given. Areas where consignment can be found and used:
- Thrift shops (for clothing), second-hand shops
- Used Furniture stores
- Book stores (mostly 1 to 1 exchanges for other books)
Because clothing and furniture are never bought back from their original sellers, consignment stores are one of the few places where people can resell their items. Popular goods that are often sold through consignment shops include items such as bridal (wedding dresses), clothes for kids, luxury goods, home and office stuff, prom dresses, and jewelry.
Consignment shops can help verify that items are authentic and will never agree to sell knock-offs of original brands, especially high end luxury brands such as Louis Vuitton. Many consignment shops are registered as 501 (C) (3) charitable organizations which allows them to accept donations, however the play is to call and find out what type of split they are willing to offer in exchange for selling an item.
Consignment shops range from thrift stores to high-end luxury resale retail stores. These third party stores normally offer free pick up services to gather your items. The Real Real is the largest company specializing in consignment with a presence online and with physical locations in major cities throughout the US. For a detailed list of consignment shops in your local area, use Google Maps.