Buttons and Company
Basically we're a ladies consignment store! And that raises a lot of questions, what exactly is consignment, and how does it work?
Simple.
First, the consignor (you) bring it the articles of clothes, shoes, etc. that you think is worth selling. Then the consignee (the business) will evaluate those things and we'll figure out a price for any items we deem sellable. At this stage, it's important to note that most consignment places will allow the consignor to suggest a price for certain items, and the consignee will uphold that price agreement. We are one of those places!
The second step is that the consignor and consignee must sign a legal document called the "Consignment Agreement." This agreement can change from shop to shop, but at Buttons and Company, the agreement removes all liability of damage or theft from the consigned items. Meaning if something happens to those items, we will not be legally obligated to compensate the consignor for that loss.
Third step! Specified in the agreement is a selling term. Basically, we will hold onto an item for sixty days. If it hasn't sold by this agreed upon time, then the consignor must retrieve those unsold items, or the consignee can dispose of them otherwise.
And what happens if those items sell? Then the consignor will get a cut of that profit! At Buttons and Company, it is specified within the agreement that the consignor will earn 40% of the profit from the item, and the consignee will earn 60%.
And that's all there really is to it! Just a few simple steps, and the consignor doesn't even have to do any of the work!
