Designer Consignment: What You Need To Know

The world of luxury fashion is evolving, and designer consignment is at the forefront of this transformation.

Whether you're looking to declutter your closet, make sustainable fashion choices, or find a designer piece at a fraction of the original price, consignment offers a win-win solution.

Here's everything you need to know to navigate the world of designer consignment like a pro.

What Is Designer Consignment?

Designer consignment refers to the process of selling or buying pre-owned luxury items through a trusted intermediary, often a consignment store or platform.

Sellers can part with items they no longer use, while buyers gain access to authenticated, gently used designer goods at reduced prices. Some of these intermediaries, such as platforms, offer both consignment and direct sale.

'Consignment only' is when the consignee works to sell it on your behalf and you receive payment only after your item has sold to its next owner. Typically, there will be a waiting time before payment. This will generally be around 30 days just in the event that the buyer chooses to return the item.

There is sometimes the option to sell directly to a marketplace or company, in which case you will receive faster payment. The advantage of consignment is that you can often earn more than when you sell directly. So, it all depends on your preference.

Why Sell Via Consignment?

1. Sustainability: By choosing consignment, you're giving luxury items a second life, reducing waste, and supporting a circular economy.

2. Get More Money: Get up to 25% more when you sell via consignment.

3. Decluttering: Turn unworn or gently used designer items into cash or credit for new purchases.

4. Speed: at myGemma, 80% of 2024 listings sold in 2024 in an average of 52 days.

How To Consign Designer Items

Selling through consignment is straightforward:

1. Do Your Research: Find a designer consignment platform that meets your needs and has positive reviews.

2. Get Your Price Quote: If you are consigning online, you will need to fill out an online form (providing photos and information on your items) to first receive a price quote.

3. Send Your Items In: Once you accept the quote, the resale website will provide free, fully insured shipping for you to send your items in. 

4. Wait For Your Item To Sell & Get Paid: You may choose to get paid in full or receive store credit for up to 10% more.

3 Tips For Luxury Consignment Success

1. Research Platforms: Use trusted consignment sites or stores with good reviews and established reputations.
2. Act Quickly: If you are buying, designer consignment is often one-of-a-kind, so if you see something you love, don’t wait too long.
3. Care For Items: If you’re selling, ensure your pieces are clean and well-maintained to maximize their resale value. It will help if you can find the original box and papers, too. Although you can still sell without these, it helps with the value.

Is Designer Consignment Worth It?

With a growing awareness of sustainability and the increasing popularity of pre-owned luxury, designer consignment has become a booming market. 

It's a smart, eco-friendly way to engage with high-end fashion while minimizing waste and maximizing value.

Whether you’re a buyer hunting for a unique piece or a seller clearing space in your closet, designer consignment offers a stylish solution.

Ready to start your consignment journey? Get to know myGemma and take the first step today.

Why Consign With myGemma?

At myGemma we offer a seamless, trustworthy process for consigning your designer items. Known for our expertise in luxury goods, we provide competitive pricing and ensures all items are expertly authenticated.

Whether you are looking to sell your Cartier watch or Louis Vuitton bag, consider myGemma for your next luxury consignment.

Advantages of designer consignment to myGemma: 

• Free Price Quote: Receive a free, no-obligation quote for your items by filling out our simple online form.
• Higher Payout: Get up to 25% more when you sell via consignment.
• Breadth Of Distribution: We list on 25+ marketplaces, including myGemma.com.
• Speed: 3 out of 4 items listed on myGemma sell within 60 days of listing.
• Secure Transactions: Enjoy peace of mind knowing your items are handled with care and payments are processed securely.
• Flexible Options: Choose between immediate payment or consignment.

What To Consider When Buying From A Pre-Owned Platform

1. Authentication: Choose reputable platforms that guarantee authenticity.

2. Condition Ratings: Pay attention to the item's condition description. Terms used most commonly are: 'gently used', 'fair', 'good', excellent', 'like new', 'pristine', and 'new in box'. Take note of the different condition ratings used by the marketplace or website you are on.

3. Return Policies: Understand the store's return and refund policies before purchasing.

4. Pricing: Research the retail price of the item to ensure you're getting a good deal.

Buying Luxury Accessories From myGemma

myGemma offers the full resale experience. You can sell or consign your luxury accessories with us, or you can even choose us for your next designer purchase.

At myGemma you'll not only find designer bags but also jewelry and watches from top-tier brands like Rolex and Tiffany & Co. Each item is authenticated by one of our in-house experts. We guarantee your designer purchase is genuine or your money back.

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