Consignment

Consignment is the act of consigning, which is placing a person or thing in the hand of another, but retaining ownership until the goods are sold or person is transferred. This may be done for shipping, transfer of prisoners, or for sale in a store (i.e. a consignment shop). In the context of sale, it is usually understood that the consignee (the consignment seller or the party to which goods are sent) pays the consignor (the person with items to sell or the party by which the goods are consigned) only after the sale, from its proceeds.

Consignment shops

"Consignment shop" is an American English term for second-hand stores that offer used goods at a lower price than new. Many offer new items as well. The dealer pays the seller a percentage upon the sale of the goods.

Merchandise often sold through consignment shops include antiques, athletic equipment, automobiles, books, clothing (especially children\'s, maternity, and wedding clothing which are often not worn out), furniture, firearms, music, musical instruments, tools, and toys. eBay drop off stores often use the consignment model of selling. Art galleries, as well, often operate as consignees of the artist.

Consignment shops differ from charity or thrift shops in that the original owner retains some of the revenue from the sale, rather than donating it to the charity. They differ from pawnbrokers, which acquire the good from the original owner in exchange for money or a loan of money.

In the UK, the term "consignment" is not used, and consignment shops selling women\'s clothing are called "dress agencies". Although the other types of consignment shop exist, there is no general term for them.

Etymology

Consignment comes from consign, Fr. consigner, Lat. consignare, to affix a signum, seal; whence, in Late Lat., to hand over, or transmit.

See also

• Scan-based trading

Further reading

• How to Open a Consignment Shop: A Complete & Candid Guide. http://www.consignment-shop-store.com

• Holmes, Kate (2006). Too Good to be Threw: The Complete Operations Manual for Resale & Consignment Shops. Katydid Press. ISBN 0-9755886-1-3.  (Spiralbound, 202 pages)

• Nissanoff, Daniel (2006). FutureShop: How the New Auction Culture Will Revolutionize the Way We Buy, Sell and Get the Things We Really Want. The Penguin Press. ISBN 1-59420-077-7.  (Hardcover, 246 pages)

• Behind The Dot\'s Consignment Primer

References

• Black\'s Law Dictionary
• Showroom Finder[1]
• Store Finder by zip code[2]

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