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January 12, 2015

Why I Don't Consign My Kids' Clothes

I know so many of you love consignment season! I love it myself, but I most definitely approach it with caution. There are Reasons Why I Don't Consign My Kids' Clothes, and this post includes a little bit about that.

I have shared some of my thoughts about consignment - and how a gal must be careful or she will find herself overspending at the sales. I have also shared some tips for how we've been successful in finding great stuff [ahead of time] for our kids, and today, I want to share with you why I don't consign my kids' clothes.

Consign My Kids' Clothes

I realize that some mamas choose to consign their kids' stuff because it allows them early entry in to the sale. I totally get that! When you're able to be in the first or second group of shoppers, you most definitely find a better selection...like the time I was gifted with early entry to a sale and I scored loads of brand new Ralph Lauren for my pre-schooler. I completely understand why one would find this the number one perk of consigning! Go for it! 

However, if you are simply looking to make money with resale, I'm not so sure consigning kid's clothes is really the way to go. 

If you price your stuff to sell (which you definitely want to do), you're really not going to be able to price your items very high. By the time you factor in the cost of supplies (cardstock, printer ink, tagging gun accessories), the time it takes to prepare your items (hanging, steaming, pricing, tagging), the time it takes check-in/drop-off your items, the amount of volunteer hours you may or may not contribute to the sale, the babysitters you may have to pay to take care of your kids while you volunteer at the sale, it just simply is not worth it...if making money is your only goal.


Here's What I Do

For high-end items that are still in great condition, I sell them on ebay

For other items, I either sell them in a yard sale (NOT for $.25 or $.50 but for anywhere from $1-$5 per item - depending on the brand, condition, etc.) or I donate them and get a tax receipt. I have found that when it comes to selling the items in a yard sale, I typically make more than if I were getting a percentage of the sale from a consignment company - the key is pricing them high enough for this to be possible; and when it comes to donating the items, I typically break even with what I would have earned had I consigned the items.

So you make $1,000-$2,000 each consignment season?
You can do that (and possibly more) by having a yard sale! Yes, you read that correctly!

Want to know how that's possible?
Check out these tips for How to Have a Yard Sale (and actually make money):

Consigning adult clothes is a totally different story! When it comes to making cash, I focus on selling women's clothing - [recent/stylish] name-brand items that are in great condition - A & F, J. Crew, Ann Taylor, Banana Republic, North Face, Coach, 7 For All Mankind, Anthropologie, White House Black Market, Michael Kohrs, Nine West, etc! When shopping yard sales, thrift stores, etc. I watch for items that I can resell on consignment. I sell with two consignment shops back in my home town and I also sell with a local consignment business here that annually hosts four set-up & tear-down consignment events. With women's clothes, shoes, and accessories, my margin for profit is much higher than with kid's stuff and makes all of the time and resources totally worth my investment. 

Want to know more about How I Earn Extra Cash From Home?