Hi Everyone!
We are so happy that you are considering consigning with us at Queens Exchange! When you've decided to consign your items, whether it's clothing, handbags, shoes or collectibles, the next step is to set up a consignment review appointment. This meeting is a crucial part of the consignment process, as it helps both you and our staff at Queens Exchange determine the suitability and potential value of your items. But what should you expect from a consignment review appointment? Let's delve into the details.
1. Expert Evaluation:
The cornerstone of any consignment review appointment is an expert evaluation of your items. The three of us started our journey as resellers! We enjoyed selling on other platforms such as Poshmark and Ebay. Through that experience we are pretty solid on what's selling and what our customers are looking for. We'll assess your items' condition, quality, and marketability. We'll consider factors like brand, age, rarity, and overall appeal. This evaluation is essential for determining the price at which your items can be sold.
2. Item Selection:
We definitely want to be transparent about this part - but unfortunately not every item brought in for review may be accepted for consignment. We have a specific criteria for what we will sell, and your items must meet those standards.
During the appointment, we will select which items are a good fit for the store. At times, we may need to reject based on inventory (size), type (Tops over Pants), or brands that are no longer selling well.
Please ask us questions during your appointment. Trust us, it's not personal - just be prepared for both accepted and declined items.
3. Pricing Discussion:
Once your items are evaluated and selected, the next step is pricing. Our Consignment Specialists will determine fair market prices for your items.
This process often involves considering the item's original price, condition, demand, and current market trends.
The great part about consigning with Queens Exchange is that our platform will email you a detailed breakdown of the items we've accepted and the commission breakdown within 24-48 hours.
4. Contract Details:
Please read our consignment terms and agreement and feel free to ask any questions during your appointment. We want you to feel comfortable with the process. If there is any particular item you'd like to discuss pricing on - let us know!
5. Presentation and Photography:
After we've accepted your items, we will prepare to post your items on our website (www.ConsignQueens.com) and in-store. Please follow us on our Instagram (@Queens.Exchange) as we post new items weekly on our IG account and on IG stories.
We aim to display your items attractively to entice buyers. What you can do to assist in the sales process is: follow our IG account and share with your friends!
6. Marketing and Promotion:
We take a very active role in promoting and marketing your items. We will feature them in-store (on our mannequins "Sheila and Lisa"), on our website, and on Instagram. We also plan monthly events for creatives and the community.
7. Inventory Tracking:
Queens Exchange uses a sophisticated inventory management systems to track the status and sales of consigned items. You will receive an email from Queens Exchange on the following:
- A welcome email with Account Portal information so you can log-in anytime.
- An email with a detailed breakdown of items received.
- An email each time your item sells (don't forget to email us to request a payout 30 days after the sale)
The only email you won't receive is when it's time to pick up your items. (We hope our sophisticated platform partner will make this an option soon!) You must set a calendar reminder on when its time to pick up your items. If you do not wish to pick up your items, please let the Consignment Specialist know and we will set your account to "No Return, Donate" after the 60 days are up.
8. Get Paid!
Woo-hoo!! Your item has sold - now what? Time to get paid!
You are eligible for a payout 30 days after your item sells. Please send us an email if you wish to receive your payout. We will send you an email requesting payout details from Checkbook.com, our payout partner. You have the option of entering in your bank details for a "direct deposit" payout, or you can also select to receive a check to deposit into your account. If you wish to keep your payout amount to use for store credit - you may do so! You'll also enjoy an additional 15% off* items in-store. (*with the exception of Authentication Services and Sneakers).
We hope this blog post has helped bring clarity to our consignment process and that you select us as your first choice when consigning your items.
Please follow us on Instagram or Facebook. We'll see you in the shop soon!