When evaluating whether to use a consignment shop to sell unwanted goods, many people wonder what percentage does a consignment shop take. The simple answer is that no two consignment shops are the same, and the typical consignment rate depends on several factors, including the types of items sold on consignment. This article will discuss the typical percentage a furniture consignment store may take and explain why selling furniture on consignment is worth it. For a more comprehensive look at consignment percentages, check out our guide Understanding how a consignment percentage works.
Typical furniture consignment percentage explained
Most furniture consignment shops' percentage is either a 50:50 or 60:40 split in favour of the consignor (the item's owner). At Around the Block, our consignors receive 60% of an item's final sale price. So, for example, if your porcelain figurine sold for $100 at our store, you would receive $60, and we would keep $40.
Is the consignment percentage worth it?
Of course, people interested in selling second-hand have options beyond consignment shops. Some sellers decide to go it alone and either hawk goods online or organize a yard sale in the hope of getting rid of unwanted furniture. Because you have choices, it is fair to ask whether selling furniture on consignment is worth the percentage the store will take. How do you decide whether consignment is right for you?
In evaluating whether to consign or not to consign, the first thing you should consider is the condition of the items you have to sell. The more worn or damaged, the less likely an item will be accepted into a reputable consignment shop's inventory, so taking your chances online, at a thrift store, or garage sale might make more sense.
The second thing you should consider is how many items you have to sell. If you have a single thing to get rid of, the inconvenience and risks of selling by yourself are lower than if you have to unload multiple items.
The more you value your time, the more consignment makes sense because a consignment store takes the hassle out of the entire selling process. A consignment store does take a percentage of the sale, but for that percentage, you will get a professional team behind you to research, house, display, price, and promote your items in the best way possible. You offer your items to the store, and the store handles the rest.
Why choose selling on consignment
Despite the percentage, a consignment shop takes, why is it still the best way to sell used furniture?
Convenience. The first reason you should sell used furniture at a consignment shop is convenience. Once your items are accepted into a consignment store's inventory, you can rest easy knowing that your goods are being marketed and cared for until the sale is final.
Safety. Selling online, through an ad, or another way is possible but also fraught with security risks. Would-be scammers are always looking for ways to take advantage, and online marketplaces are the perfect place to hunt for victims. If you aren't interested in having strangers traipsing through your home to inspect the furniture, let a consignment shop rehome your items and make that sale.
Experience. Your neighbourhood consignment store has the local market insights and expertise to know what will sell and at the best possible price. Rather than spend hours researching or wondering how to price the Swedish Biedermeier table your aunt gifted you, leave it to the experts at a consignment store near you.
A furniture consignment store will take a percentage of the sale, but it is still an excellent option to make money on used, unwanted items. You can sell items on your own and avoid the consignment percentage, but the risk, work and expense involved often are not worth it.
Furniture consignment in Toronto and the GTA
At Around the Block, we believe having been loved never goes out of style. That's why we foster vintage and antique home decor and furnishings until they find a forever home. Whether you are looking to buy or sell artwork, collectibles, jewelry, furniture, tableware, home decor and more, Around the Block is the go-to destination for quality consignment in the greater Toronto area. Contact us today about your consignment needs.
