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How to Clean and Cash Out Your Closet: Love to Wine & Dine? Then Consign
Re-sale fashion is the move, people! It's actually one of the most sustainable industries out there. Did you know resale stores (i.e., consignment boutiques) recycles 18% of textile waste every year? So let's support these small businesses and let them sell your unwanted designer dresses, bags, shoes and accessories for you. Summer is right around the corner, which means it's time for a seasonal closet cleanse. If you're one of those people who has a closet full of clothes and an empty wallet, this post is for you. Believe it or not, 52% of the items in your closet go unworn per year. First world problems, right? I bet you can think of 5 items in your closet collecting dust right now that you can probably sell. Were we right, huh? If you've grown tired of having a closet that overflows and an underflowing wallet, you can utilize some of these options and soon enough you'll have a tidy closet and some extra cash in your bank account.  

“I like my money where I can see it — hanging in my closet.”  -Carrie Bradshaw

 

Consignment Stores - Hassle-Free for the Busy Bee

There are plenty of luxury consignment stores that’ll accept your designer and vintage items. First, find out what brands they're selling and whether or not your items are a "fit" for what the store is looking for. Keep in mind that you want to make sure your items are still in good condition...that means no rips or stains, ladies! Pull out those unique, vintage pieces that have been resting peacefully in their dust bags and boxes for years. Typically there are two approaches to getting paid. The most common is when you receive a percentage of the sold price, which is usually anywhere from 40%-60%, with the consignment store keeping the remainder. The other is when the store pays you upfront in cash. However, you will not earn as much - usually less than 40% actually, but you cash out immediately, you're done, and your wallet is a little fuller. Consign with LePrix—it’s easy! We know you’ve got great style (duh) and that’s why we’d be beyond thrilled if you’d share your closet with us! Whether you’re looking for white glove service or you’re more of a DIYer, we’re here to help you make money! If you’d like to give your fabulous designer items a new home, there are two easy ways to consign with LePrix:
  1. Try a local boutique! With over 600 boutique partners on our platform, you might have one located right up the street. To find out about consigning your items with a boutique near you, click here!
  2. Nothing local yet? Sorry. How about mailing us your items? Try our White Glove Consignment Service, in partnership with Luxury Garage Sale. Simply fill out this form to receive your free luxury consignment kit and someone from LGS will reach out to you once they’ve reviewed your request.
 

Sell Online - Hands-On, More Control

There are many online platforms and mobile apps you can use to sell your pre-loved clothes and handbags that have many different users. Unlike luxury consignment online shops and stores, this option allows for you to pocket a little more of the profit. This is a great option for the entrepreneur in you, who likes to control the pricing and set up your own so-called online boutique. And lets you stalk out and monitor your favorite designment consignment websites to keep track of items and pricing on the daily! However, there is a downside to selling on these online platforms. There's a lot more work involved with taking nice pictures, capturing all the important details and defects, pricing research, posting the item(s), managing the post, replying to questions and comments from potential buyers, and of course shipping your sold items out. The best way to go about selling online is to take a good hard look at what is already being offered on each platform. From there you can decide what to sell and at what price point. Don't forget, pictures are key, so make sure you take high-quality photos. Honestly, I get inspired to post items to sell myself once in a while but then I quickly lose steam. I don't know about you, but I'd rather drop off my used bags, clothes and shoes with my nearest consignment boutique and sit back and get paid. More time to wine and dine with my friends and watch my latest Netflix obsession (and online shop at the same time, of course). ;)  

Weed out the good stuff

Now it's time to separate the men from the boys, or just the nice items that can be sold at your local consignment boutique from the items that need to be donated. Go through everything you have and put lower-end brands and items with stains, holes, or other markings in the donate pile. It will feel like an enormous weight has been lifted off your shoulders once you say good-bye to some closet stragglers. If you find that you're struggling to let things go you can implement the KonMari method, which consists of clutching to an item to determine whether the prized possession sparks JOY. If uninspired by the item, thank it for its service and consign or donate it.  

Think like a buyer

Once you've separated everything into their appropriate piles you need to start thinking like a potential buyer. Look at everything you've put to the side and ask yourself: "Would someone spend their money on this?" Remember, it's not about you anymore, we already know that you would. You need to ask yourself if a random stranger would spend their hard earned money on what you're selling. And also be realistic about your price. Everyone thinks their things are worth more than they really are, so if your consignment store or your research tells you that that the secondhand market price for that awesome DVF dress, consignment Louis Vuitton or Chloe bag you used to love is far less than you expected and it stings, then keep it. But remember, if it doesn't spark joy anymore, it's better to pass it on and spark joy in someone else's life and of course, earn a little extra cash for it. Potential buyers are looking for pieces that are in great condition, are trending, or are timeless, classic items. At one time you may have spent $1,000 for that designer bag but someone else may look at it and think it's dated. It's always a great time to spring clean! It's a no brainer to cash out your closet and treat yourself to a nice dinner and then some more shopping. Keep the circular economy going ladies. It really is great for your closet, your wallet, and important for our environment. ?
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