Finding the Right Consignment

By Luxe Du Jour
January 4, 2024

KYC usually means Know Your Customer, but in the designer resale world, it’s Know Your Consignment. What does this mean, and why is it important? It’s about finding the right consignment platform for you and finding the best consignment to sell your items fast.

Let’s break down the essential factors of finding the best and right consignment:

Look at what that consignment mainly features and sell on their website or in their boutique.

This is important if you care about your item selling fast. If the consignment mainly sells vintage items or lower-end clothing for under $1000, then selling your brand new Chanel bag that’s valued at $10,000 may not sell well at that consignment and vice versa. If you have an outdated vintage Louis Vuitton item, then sending it to a luxury consignment that only sells brand-new Hermes bags wouldn’t make the most sense because the clientele of that consignment is mostly buying and looking for newer Hermes items. It’s essential to see what that
consignment or reseller specializes in to find the best consignment that potentially has the clientele to buy your item. By doing this, you increase the chances of your item selling faster and not wasting your time by leaving it with that consignment for months or a year and not knowing when it will sell.

Look at what the consignment rates or the buyout quote is.

This is important if you want to get the most for your item. Very few consignments will offer a direct buyout, which means they will buy your item outright, and you don’t need to wait for your item to sell before receiving funds. Many consignors love the option and the seamless experience of getting an instant buyout quote, which is what Luxe Du Jour offers! Luxe Du Jour offers both consignment quotes and, most of the time, a buyout quote for the seller to choose from. When you select the consignment option, you get more back in your pocket instead of the buyout option because you have to be patient and wait for your item to sell to get paid. Most consignment stores take anywhere between 30-50% in commission when sold, so looking for a reasonable consignment fee is important. Luxe Du Jour’s current consignment rates can be found under CONSIGN/SELL and are one of the most competitive rates in the luxury resale market. We encourage clients to shop around for rates if they are new to the designer resale industry so
you can explore your options! Keep in mind all the other factors, though, because you may be quoted a much higher price than other consignments, but the question is – will it sell? Is it the right market value price? Do you like all the other processes and rules of that consignment to list it with that consignment for that price?

You don’t want your item listed at an overinflated price that ends up sitting and never selling so take into consideration all the other factors when finding the right consignment shop for you and your item.

Look at how the consignment markets their item.

This is important if you are looking for a fast sale also. Does the consignment have a storefront for clients to view and extra exposure for your item? Does the consignment have a social media presence to further market your item to get it sold within a timely matter? Does the consignment take quality photos so that your item is showcased in the best light and looks aesthetically pleasing to the potential buyer? Does the consignment offer multiple methods of payment and make buying easy to promote a sale? It’s important to look at this because a consignment can offer you the highest quote with the lowest commission fee, but they don’t showcase or market your item well, so no one ever sees it or buys it. Luxe Du Jour understands the importance of marketing and professionally photographing items to attract buyers. We have a strong social media presence to reach that worldwide demographic instead of having just a local boutique to attract local buyers. We spend much time featuring our items on live shows, Instagram reels, TikTok videos, YouTube videos, mod shots, and a sales team to find the right buyer.

Look at the whole process and the rules of that consignment.

This is important if you are looking for a seamless experience. Every consignment is different and operates differently, from how long it takes for them to quote, authenticate, or process the item to how fast they can get it sold and how they send payment to you. We’ve seen some consignments take one week to provide a quote or 3 to 4 weeks to process an item, and we’ve seen some consignments only payout once a month if your item sells. We’ve also seen some consignments that only offer payment via cheque and some consignments that won’t inform you when your item sells. You need to call in to check. Finding the proper consignment requires a little research, and don’t be afraid to ask questions about their terms and conditions. At Luxe Du Jour, we know our clients value our quick quotes provided, our 3-5 business day processing time, easy payout methods, our efforts to market their item, how fast their item sells, and full transparency to be notified of the progress and track the progress through the Luxe Du Jour app or their account online. It’s important to remember that Luxe Du Jour may not be better than every competitor. Still, there are many things Luxe Du Jour strives to be good at for the whole customer experience, and it’s all about which consignment aligns with your expectations.

More about Luxe Du Jour and if Luxe Du Jour could be the proper luxury consignment for you.

Luxe Du Jour specializes in only certain brands such as Hermes, Chanel, Louis Vuitton, Gucci, Fendi, Dior, Bottega Veneta, Goyard, Celine, Cartier, Saint Laurent, Valentino, Chloe, Rolex, Loewe, Van Cleef & Arpels, Prada, Balenciaga and Manolo Blahnik. 

The best-selling brands at Luxe Du Jour are; Hermes, Chanel, Louis Vuitton, Gucci, Goyard, Van Cleef & Arpels, Dior, Cartier, Rolex, and Saint Laurent. 

The brands that don’t sell as fast with Luxe Du Jour are Valentino, Chloe, and Balenciaga. 

Luxe Du Jour has 2 head offices located in Irvine California and Calgary Alberta where clients can come in and view an item if needed but mainly sells online because our clientele is worldwide hence why we ship worldwide. 

Luxe Du Jour also does not reduce the prices of our consignors’ items without their consent and any sales or discount codes do not affect the consignors’ payout unless authorized and approved by the consignor. 

Luxe Du Jour also offers multiple methods of payment for the buyer which is why items can sell very fast with LDJ! We offer buy now pay later options like Affirm and Split-it and we have our own in-house layaway option for clients which also doesn’t affect our consignors’ payouts. Clients love paying with these options because when you go into the luxury

boutiques you can’t ask them to put an item on a layaway or financing plan where as you can through Luxe Du Jour! 

Lastly, Luxe Du Jour is a one-stop platform where clients can shop, sell, rent, or restore preowned designer handbags and accessories so if they wanted to rent a bag first before buying it or restore or touch up a minor flaw before buying the item they could! The purpose of becoming that one-stop destination is to make the whole customer experience better. 

We hope this helps you find the right consignment for you!