Make money by selling on consignment - New York News

Make money by selling on consignment

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CHICAGO (FOX 32 News) -

A lot of consumers are finding a pot of gold in their old stuff. Instead of donating unwanted items like clothes, purses, tables and chairs, people are selling them.

From downsizing to buying new furniture, FOX 32's Darlene Hill stopped at a couple of consignment shops and found everything she wanted--or didn't--with a price tag.

It's not a new concept, but in this economy, it's proving be have heavenly benefits.

Divine Consign, a store located in Oak Park, is loaded with all kinds of goodies. Some are new and some are used.

"The consignment split is 50/50 so whatever an item sells for the consigner gets half and we get half," Divine Consign Owner Kelly Halsted-Scott explains. "They're showroom pieces or they're ‘oops, something didn't come out exactly right' or discontinued pieces."

Everything in the store is marked down. One custom oversized table is $1,100, the chairs are $245 and the Tiffany ice bucket is just under $100.

The owner says when the economy tanked, a lot of cash-strapped customers started walking in with tables, chairs and even the dishes from the kitchen sink.

"I really think there's been a fundamental shift in the way people think about shopping and consignment," Halsted-Scott says. "People don't want to give away their furniture like they used to and they also don't want to spend as much."

There are more deals in the basement.

"We sell high-end designer like Chanel and Louis Vuitton and in our service we either go to people's houses who are looking to consign or they can drop off here," owner Brielle Buchberg says.

That's how they're running the Luxury Garage on Chicago's North Side. A pair of funky boots we picked up were brand new. They were $1,900. Now, on consignment, the red bottoms are about $700.

Whatever the item sells for here, the customer gets 65 percent and the owners keep the rest. We found plenty of clothes with the designer's original price tag still on.

A couple of thrift stores told FOX 32 News that in this economy, the need is much greater than the items they're taking in.

Overall, their donations are not down because people are selling their items instead of giving them away.

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