Frugal yet fashionable: How to shop for designer pieces at a steep discount
Stylist Genny Iannucci shares her secrets to successful consignment shopping.
Keeping up with the latest trends while still remaining true to your personal style is a task in itself, but trying to do so while staying within budget is even harder. Thankfully, there are lots of designer consignment stores that offer high fashion labels at steep discounts. These places can be a bit daunting if you're new to this type of shopping, though. But there's no need to be intimidated because stylist Genny Iannucci broke down everything we need to know about consignment — both selling and shopping — as well as her strategies for scoring those coveted designer deals.
Consignment vs. thrift stores
By definition, consignment means you give your chosen consignment business your goods such as clothing, shoes, handbags and accessories for the purpose of resale, with the agreement that you will receive a portion of the sale price once the item is sold. These types of shops are very selective in the quality of goods they accept, the age of the goods as well as the labels. Thrift stores are much more liberal in the selection process and are often run by charitable organizations and sell donated goods.
The benefits of selling to consignment
Consigning is a wonderful way to purge your closet of those great or special pieces in your wardrobe that you no longer wear while earning some cash. Plus it's environmentally friendly — instead of ending up in a landfill, your sold items end up in someone's closet. Not to mention, you might even make some money back!
The advantages of shopping consignment
Simply put, it's fun! Everyone enjoys the thrill of the find, plus it's convenient. Consignment stores are often great one-stop shopping destinations where you can buy up-to-date clothing, handbags, shoes and accessories. Most shops take in goods that are no more than 2 years old unless it is a high-end designer item, so it's also a wonderful way to acquire unique pieces and accessories that might normally be out of your budget.
Here's what they're looking for
If you want to sell some pieces on consignment, Iannucci advises that they must be in pristine condition. Think of how you would expect to see new items for sale in most retail establishments — meaning free of wear and tear, clean (freshly washed or dry cleaned with dry cleaning tags on), free of stains, odours, free of tears and unravelling seams, all buttons in place, neatly pressed, wrinkle-free and brought in on hangers or neatly folded. Shoes should not have any signs of wear, except for the soles and heels must be in especially excellent condition. If you buy a designer piece that you might end up consigning, be sure to hang onto the box, the dust bag or the paperwork because these extra pieces help increase the value of the items.
Bring in your best items to be considered for consignment, but don't expect everything that you bring in will be accepted. Each shop has its own clientele and the shopkeeper will know what will sell in their establishment. Alternatively, shop keepers may decline an item if they already have similar items or sizes in stock. Don't be discouraged! Try taking your items to a different shop which may have a need for your pieces.
Their pricing strategies
Items in a consignment shop are typically offered at 50-75% off their original retail price (if available) when they first hit the sales floor. The shop will place a fair market value on your items after doing the required research. Mid-range labels are usually priced at 70% off the original retail price whereas higher-end and designer labels are priced at 50-60% off. Just as with any other store, items are generally marked down the longer they are in-store and many shops have end of season sales for even more savings. If you sell a piece at consignment, the spilt is normally 40%-50% for the original owner of the goods, and 50%-60% for the shopkeeper.
With all of this in mind, here are Genny Iannucci's top 3 tips to employ the next time you shop consignment:
Do your homework
Shop at well-established, reputable consignment stores. These shopkeepers know their business and have inspected and examined every piece to ensure it is in excellent condition and authentic before it hits their sales floor, such as with this pristine Carolina Herrera gown. Keep in mind that different shops cater to different clientele, so once you discover the shops that work with your sense of style, establish relationships with those shopkeepers. They will be happy to keep you top of mind when items come that work with your style, size, wardrobe and budget.
Don't hesitate
When you see something you love, don't hesitate to make your purchase! It truly is a one of a kind item in a consignment store, so once it's gone, it's gone! Items like this great Dsquared2 jacket don't stay on the racks for long, so Iannucci says to always go with your gut or you might regret it.
Don't rush
Take your time in consignment shops. There are so many treasures to discover! She advises that you thoroughly go through the racks, try on labels you have never worn before, and have an open mind. This outfit is made up of all designer pieces with a Chanel coat and Gucci pants. It's fun to try new things on, and if it fits, you may have even just found your new favourite label.
Resource guide:
Given the nature of these one-of-a kind vintage pieces, we're unable to provide shopping links, but we can share Genny's top picks for consignment stores — plus you can shop them online.