Consignment · modern life · money

Con-Signing My Life Away, Part 2

After BB (finally) fell asleep last night (3/27/17), I began pulling some of the clothes I had put aside for my little consignment experiment.  RB, laying on the bed reading on his phone, looked up at me wearily.  “What are those?”  Sigh.  These are the clothes I’m going to try to consign.  “Do you think we should really be getting rid of clothes if we’re thinking about having another baby?”  These are special clothes, he never wore most of them.  Interest piqued, he started to peer at some of the items I had begun organizing on the bed.  “That thing has tags on it still,” he said, pointing to a tiny, brown bomber jacket.  Sigh.  Yes, I know.

I felt like an idiot explaining to him that these are clothes I paid for to try to upsell, but eventually it came out.  He stayed downstairs for a while, afraid to waltz back into the strange reverse nesting tornado that was developing on our bed, however eventually he did come back with one of the supplies I needed: white cardstock.

This little adventure won’t make me rich by any stretch of the imagination, but for now, my goal is to at least try to make my $10 back and how much it’ll cost me to actually sell stuff.  That’s fair, right?

Consignors get 60% of items that are sold, right off the bat.  I’m not ready to dump any of BB’s real clothes and don’t have the potential to make any real money off of this, therefore I’m not willing to “volunteer” for a 4 hour shift to earn an extra 5-10% on my sales.  

Did I mention what a successful racket this is?

It ran us $3.80 for the white cardstock, $1.09 for zip ties to secure the pants to their hangers.  Now my goal is to make $15.  I hoard baby clothes hangers like a squirrel and have a bunch of them saved (including the ones I got from this consignment sale when we actually bought stuff last time).  

I am not factoring in the cost of a new printer into this since we needed a working one anyway, but rest assured we got a solid Cartwheel deal on it.
Since most of the clothing that I purchased cost me $1.09 each (most are higher end items like Baby Gap, Kenneth Cole, etc) my goal is to make money on them also.  So let’s say I want to earn a minimum $1.50 per  (for a whopping 41 cent profit), that means that the lowest I can sell each piece of clothing is $2.50 which will probably not happen since hundreds of people are competing with each other to underbid the next person and get rid of all their crap.  I need to look at each piece individually and ask myself: How much would I be willing to pay for this to make it a “good” deal?

Fast forward 5 days to the present: it’s Saturday night and here I am, well on my way to a decent buzz, the day before I have to drop off my 15 items to (hopefully) be consigned.  I ran the numbers, which are as follows:  if I sell every single thing I have the potential to make $54, which really equals $32.40 (60%).  The strange reality is that I spent about $21.94 on the items I’m selling and $4.89 on supplies, plus the $10 registration fee.

So absolute best case scenario I’m in the hole for $4.43.

I asked RB if he thought what I’m doing is stupid.  He looked at me and said if it’s something that I think has the potential to make some money he thinks it’s a fine idea.  I laughed and told him that was a safe answer; he responded it was smart and walked away.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s