Nothing revs the ol’ cash flow like liquidation. And we’re not talking about your stashed-away IRA. We’re talking clean out your closets and explore the attic. If pride prevents you from staging a garage or yard sale, here are some other ways to sell.
● Small-print ads that can get big results:all sorts of things can be sold through theclassifieds, so why not go to a specialist?With seven area editions, the Greensheet has a verified 250,000 circulation in the Metro-plex, including Denton and Wylie. Itspublished weekly, and readers {potentialcustomers!) pick it up free. The ad rate isright-only 30 cents per word, discounted to20 cents if you pre-pay-and each edition ofthe Greensheet is on the street a whole week.
● Hock: pawnshops pay cash for merchandise. If you want to sell, that’s swell, but if you want a loan, you’ll groan when you hear pawnbrokers’ interest rates. The percentage increases as the amount of the loan decreases, from a 240 annual percentage rale (on loans of up to $93) down to 12 percent (for loans on the pawnbrokers’ current legal limit of $7,750).
● On consignment: wardrobe junkies can really benefit here. In the Dallas Yellow Pages, we found more than fifteen shops that specialize in selling clothes on consignment.
Choosing a consignment shop is a lot like choosing a doctor; you have to find the one that’s right for you. First, find out the shop’s acceptance hours. Few have time to sort clothes on Saturdays, and some accept only by appointment. Clothes Horse Anonymous (the grande dame of consignment shops), 1413 Preston Forest Square, asks that consigners use the back entrance. But these stores bend over backwards to accommodate choice consigners; for some, shop owners will pick up clothes at the house.
With few exceptions, these shops require a minimum number of items-ranging from five to ten-to set up an initial consignment contract. Take more than the minimum when you go to consign, because most of these shops take pride in being picky. Baubles & Beads, a nationally franchised shop at 380 Promenade, across from Promenade Theatre on Coit Road, claims to accept only 20 percent of the garments submitted. Marcia Stone, owner of Champagne Taste Inc., 1106 Preston Royal Plaza, says her shop is ’”the most exclusive in Dallas.” All stores require that the clothes be clean-preferably dry-cleaned-in perfect condition, and on hangers. Most shops refuse items that are outdated; many refuse anything that’s more than two years old. And the more exclusive resale shops require a designer label.
Consignment shops also ask that the clothes be in season, because all consignments are contracted for a specific length of time. In most shops, it’s ninety days; in some, it’s sixty.
But now let’s talk about the good part: cold cash. Consignment is generally a fifty-fifty proposition. Only La Femme Chic Resale, 729 Preston Forest Shopping Center, gives the consigner 60 percent.
However, on furs, ball gowns, and other high-priced merchandise, most shops give the consigner two-thirds of the profit. At Clothes Circuit. 6055 Sherry Lane, if a single item sells for S100 or more, the consigner automatically gets 60 percent.
How much will your clothing sell for? Some current estimates: a three-year-old Adolfo suit that sold new for $1,200 will resell for $200-$250, and a $900 Ferragamo suit that’s two years old could bring in $200.
We found two shops that specialize in wedding gowns: Second Hand Rose. 10711 Ferguson, and Another Season. 606 Park Forest Shopping Center.
Men and children can consign, too. Man-to Man, 375 Promenade Center, is Baubles & Beads’ brother shop; it sells all sorts of men’s clothing-underwear excluded.
Kid & Kaboodle. 581 West Campbell Road, accepts children’s clothes up to size 10. toys, furniture, games, etc. Rabbit’s Recycle, 930-A Cedar Ridge Road, accepts clothes for newborns through girls’ size 14 and boys’ size 16, plus maternity wear, baby beds, strollers, and other kids’ furnishings.
Casa de Consignment. 6805 Snider Plaza,accepts anything owner Yvonne Wippemianthinks she can sell, which leaves it wideopen. Earlier this year, she sold a seven-footoil derrick replica.
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