posted on July 25, 2001 10:12:35 PM
Sometimes I'll do consignment sales for select individuals--my usual going rate--the auctions pays for itself (fees paid off the top)and 50/50 split. My select clients are those who HAVE online access (Anyone of them could do it their-selves, but prefer to have me list their stuff). I run their auctions no holes barred--meaning I do them the way I want to. I don't accept junk!
I put a heck-of-a-lot of work into my auctions--because an item can only be sold by it's owner ONCE and my clients get the same professional care I give my own.
Question???? Lately I've been approached by several individuals NOT online--who want me to sell for them. Nope I've never advertised! They kinda look shocked when I tell them what I get--(though my clients have never batted an eye)! I was wondering what others out there charge--digital photo's, write-ups, lay-outs, packaging, shipping, and correspondence all included?????? Thanks!
posted on July 25, 2001 10:22:34 PM
I've sold for several people, mostly friends... The first time I was approached, I said 30%, but my friend thought that was too low and said I should take 40%. That's what I've taken since, and nobody complains.
posted on July 25, 2001 10:42:46 PM
Whew--glad to hear that! I haven't thought I've been unreasonable and if an item far exceeds my expectations I don't take the 50%, I cut it down and give them a nice surprise! Knock on wood--I've always beat the "going sells" by a mile--but I can't bring myself to brag upon myself as I know the moment I do!!!! I've just been quoting them my rate--PERIOD.
posted on July 26, 2001 02:25:04 AM
glitter...I've done consignments for quite a few people now, and I have to say that you have the right idea. Take fees out of the total and split the rest 50/50. Anything less than that is just not worth it. Especially if the widget is expected to sell for less than a hundred dollars. Believe me, I know.
posted on July 26, 2001 04:26:45 AM
I do reverse consignment...My friends/clients give me a list of things they're looking for and what they're willing to pay. I search for the items, track them, bid on them and when I win and receive the item, I present it to my friends/clients with a bill for the total (including s/h/i) marked up for a minimum fixed amount or 40% (whichever is more) and they gladly pay. They know the mark up and believe it is fair.
It's great cause it satisfies my obsession with buying on eBay while using other people's money. While searching I come across tons of great bargains which I snap up, clean up, and resell on eBay with a healthy profit margin.
It's just a second job/hobby with the proceeds going into a tuition fund for my kids. I doubt I could actually make a living off it, but it sure helps out as a supplement.
Gerald
"Oh but it's so hard to live by the rules/I never could and still never do."
posted on July 26, 2001 05:06:06 AM
What I have done is ask for listing fees plus a flat fee of $10 upfront and 30/70 split on sale, owner taking the larger half. I don't hold the item, the owner does, and packs and ships. Everyone gets their money when the buyer lets me know they got the item and are satisfied.
I take lots of pictures so I am sure I have at least a couple of good ones to post and don't have to make a second trip to the owners home. They sign and recieve a copy of a contract that, among other things, states that the item(s) will be kept in it's orginal condition and if anything should happen to the item(s), or they sell it outside the auction or change their mind, that they will let me know right away, so I can remove the listing.
I let them know the item(s) number(s) so they can track the auction. At the end of the sale, they receive copies of all email or snail mail correspondence and a invoice.
I haven't had any complaints. I don't advertize, so I don't do a lot of selling this way, a couple here and there.
Good luck to anyone who is thinking of doing this. There is a market for it, at least in my area.
posted on July 26, 2001 05:42:06 AM
I occasionally sell for a friend and here's what I did.
I set up a new seller ID to keep all the billing seperate. I did all the research on pricing, took the pics, wrote the ad, did all the computer work, handled all the e-mails, handled all the money, packed and shipped, followed up with feedback to the buyers; did it all, in other words.
From the sale price, I deducted the listing and final value fee. Any PayPal fees. too. I then split the remainder 50/50.
My friend made more than he could have in the local market and he was only too happy to split considering he really did nothing except hand over the merchandise!
posted on July 26, 2001 05:47:36 AM
I take 10% of the final value, then deduct Ebays FVF, shipping materials, (if I had to buy it) etc., and the owner gets the rest. I keep the item, do all the work, pack and ship, etc. Works out okay. Example: 141.50 item got me 14.50 and she ended up with 112.00.....we were both happy! Lower end items might tend to make the owner not so happy with what they end up with, though, especially if it requires special packaging. I get kind of lucky on the packing stuff, though, cause I usually get peanuts, bubble wrap etc. free! (From work, when they receive items in our supply room, I get the goodies it's packed in!)
posted on July 26, 2001 06:01:04 AM
I have done it two ways. The first was is how I do it for mainly family members. We split 50/50 the final price. Fees come out of my 50% however this doesn't do much to weed out the "junk" stuff.
The second is what I do with people outside my family. There is a $3.50 (I'm thinking of going a little higher with all of the nickle and diming I am getting in fees) charge per item to list. Then I take an additional 10% off the final price. I may also increase that another 5% or so in the near future.
posted on July 26, 2001 07:12:21 AM
I've only done a few consignment sales, 30-50%, more trouble than it's worth. "How much is it up to now" and "When can I get my money" wear very thin very quickly
posted on July 26, 2001 07:19:30 AM
question-
how do you handle chargebacks?
since customer can do a chargeback in 120 days,if the money has already been spent on food or medicine,how do you get the money back?
posted on July 26, 2001 09:05:15 AM
An acquaintence recently was moving and had many nice antiques she wanted me to sell. However, when I told her "25%" she came unglued (and never called back--I wonder why?) Still, my rate is $10 or 25% of the final sale, whichever is higher (and they pay the fees off the top.) Therefore, if it sells for less than $100 I'm still getting paid for the hour's worth of work I put into it. And, it discourages those with $10 broken figurines. However, I don't encourage consignments unless they're someone I know well and can work with. Too many variables --"What if it doesn't sell?" "What if it gets broken?" "What if the customer does a chargeback?" "What if it's a deadbeat bidder?" etc. I'd rather use my time to sell my own items and get 100% of the profits.
posted on July 26, 2001 10:05:58 AM
I do some consignment sales and I charge 15% usually on most everything. I just take the ebay fees out of that 15% I charge. I also charge a small listing fee of $1 to $5 depending upon how much the person wants for the item. You can take a look at my auctions under ebay seller "weaim2pleez". If anyone is interested in consignment give me a holler.
posted on July 26, 2001 10:39:40 AM
weaim2pleez: I just checked out your auctions, and clicked on 2 of them - and the pics are not coming up.... just getting the red x's. Just thought you would like to know.
posted on July 26, 2001 12:48:31 PM
I charge 1/3 whether I sell it in my store or list it for them. I cover all the listing costs. The owner and myself decide on the price together. If they want too much for the item, I pass. I keep the item and my insurance would cover it if something happened to it. If it sits here too long, I ask them to pick it up or we lower the price. I have had good luck doing cosignments.
posted on July 26, 2001 01:36:01 PM
I haven't sold anything on consignment in over a year. However, in the past I was selling army unit coins for some acquaintances. At that time we split the gross 50/50 and I picked up the fees. I also gave them their 50% the day the auctions ended so they didn't have to wait. Of course, the coins didn't take a lot of effort to sell.
posted on July 26, 2001 03:49:46 PM
I sell some consignment items for elderly friends of mine. I have a "sliding" scale...25% for items $100 and less and %15 for items over $100. I take this percentage from the final bid price then deduct fees. I do consignment selling both for fun and to help some of my friends. Works well for both of us. HOWEVER, for items on in the lower-price range, sometimes there's not much of a profit for either of us!
posted on July 26, 2001 06:21:04 PM
To read most of this thread it appears that there are a lot of people like to work for peanuts, or just don't have anything else better to do. Anything less than 50% + FEES and a signed contract is a loser.
Why would anyone consider listing someone else's stuff and possibly being liable for income tax on the entire sale? Without a written contract that's just where you are.
Take a look at your eBay account history. It lists every transaction from day one and is just a court order from being public record. Should you not have proper documentation i/e a valid contract that spells out your percentage and the auction number, you are liable for the whole thing.
Otherwise I've got a lot of stuff I would like to consign to those 10 and 15% folks, just let me knoe. I'm kinda tired of paying all that income tax anyway.
posted on July 31, 2001 08:38:17 AM
I am thinking of selling some stuff for a family member who doesn't have a computer. Their items are handmade and sell for over $200 each. I am thinking of setting up their own eBay account so that if there is a disagreement they have their eBay feedback reputation at stake. They would like to pack and ship their own items. I would handle all of the communication with each auction (e-mails to winning bidders, etc.).
What do you think of this? Should I just have the buyers pay me, and I inform her of what to ship, when, and where? What about if someone performs a PayPal chargeback, etc.? If I take the payments, I'll be the one at risk. If she receives all the payments herself, she is the one at risk. I don't want to get in the middle of a bad situation.
And what about my cut? Even 15% would be a nice chunk on an sale of this amount. This person frequently sells these items at craft shows herself also, and she also has experience at shipping them.
posted on July 31, 2001 12:12:38 PM
I used to do online auctions with consignments - But this was before Ebay and before paypal, etc. They were my own lists. I charged 15%, and it just was not worth the time so I stopped. I can not imagine doing all the work for an ebay auction for less. If I were to do this, I would charge a minimum fee of $10 per item, plus a percentage. If you get a $20 item and take even 50% after fees, you are getting something like $8 or $9. Don't even want to go to $10 items, might as well work at McDonald's, you'll make more!
posted on July 31, 2001 12:18:23 PM
If I can't score the right deal outright, then I will talk about consignment.
Some folks say "I'll do it my self," I say, "party on."
But the better presence I get on ebay and the better my feedback is, the more I can market that to someone who wants to sell stuff. It sometimes beats the newbie urge. I don't do "free" help, though. I will always get some sort of cut.
I can't compete with camera shops, but I can do a good split with lower overhead.
I do it for 50% I split it all: listing and FVF. I do vary that, but I don't bother with anything less than 25%.
My goal is to keep the transaction as transparent as possible.
I have a return policy that is fair, so I have a contract that I whip out for them to sign. MUST HAVE. Give them an out, with a fee. I don't want to hassle recriminations. My out gives me time to close out the auction. So far only one guy saw how high the bidding was going and suddenly was a collector. He changed his mind when the bidding went even higher still. Funny thing, money.
I also suggest people compare that to offers in shops or online.
I don't do a whole lot of it, but it's nice to touch some cool gear that has a history and value that I may never personally own.
posted on August 5, 2001 08:20:36 AM
ragmop:
We keep records of everything, which is why its not a problem for us. We pay income tax only on our 25% of the take, and all the ebay fees etc. are a tax write-off for us....
As a seller who takes consignments, I also have the freedom to say no to certain items - junk...
We try not to take anything that sells for less than $10.00 and preferably not less than $25.00. There are clients that bring us stuff that sell for hundreds of dollars, so in the end we make good money off the consignments. It accounts for about 30% of our annual income.
We also get rid of problem clients - or phase them out, or discourage them.... its not worth it if you have a problem client but if everyone is happy - its not THAT much work to do consignments...
posted on August 5, 2001 08:47:18 AM
blueyes29
Has given us the only intelligent answer.
A sliding scale, makes the most sense, you may want to work on the actual % figure.
I guess those of you asking 50% would love to sell a $10,000 piece for me,
BUT
In light of the fact that you have failed to think it out very well, I think I would give you my $2-$10 items.
BUT Then again, perhaps I’ll give those $2-$10 items to those that charge 10%.
I was wondering what others out there charge--digital photo's, write-ups, lay-outs, packaging, shipping, and correspondence all included?????? Thanks! 