Pricing Consigned Items: Simple Strategies

How to Price Consigned Items (Step-by-Step for Beginners)

Setting great prices is one of your most important jobs as a shop owner. Get it right and your merchandise moves fast, consignors get solid payouts, and happy customers return again and again. Here’s exactly how to price inventory without stress or confusion.

Step 1: Do a Quick Market Check

• Look up recent sold prices for similar items on eBay, Poshmark, or other resale shops.
• Visit local competitors and note tags for your item categories and quality levels.
• Remember, resale prices are usually 25–35% of original retail for good condition, gently used items.

Step 2: Use Tiered Price Guidelines

• Brand New or Tag-On: Price higher (40–50% of original retail, more for in-demand labels and tags attached).
• Nearly New (excellent condition): 25–40% of retail, depending on demand.
• Good Condition/Everyday Wear: 15–25% of retail or market price. Quality wins over age every time.
• Vintage, Unique, or Hard-to-Find: Research and compare locally these may sell for more than “new” retail if scarce.

Step 3: Special Considerations for Consignment Pricing

• If a consignor requests a minimum price, discuss whether it’s reasonable based on current demand. Compromise or suggest store credit instead of cash for special items.
• Plan for periodic markdowns if items do not sell in 30, 45, or 60 days. Explain the markdown schedule to consignors upfront (e.g., 20% off after 30 days).
• Round prices for easy checkout, and use consistent price points (e.g., $4, $6, $12, $18) for maximum simplicity.

Step 4: Label and Tag Clearly

• Put both the price and the consignor/account number on every tag this makes payouts and inventory much easier.
• For specialty items, use a short description (brand, size, special features).

Common Consignment Pricing Mistakes (and How to Avoid Them)

• Pricing too high leads to slow sales, unsold goods, and unhappy consignors.
• Poor tags or missing labels causes confusion at checkout and payout time; invest in a label printer or clear price stickers.
• Ignoring seasonal demand winter coats sell for more in October than March; plan your intake and markdowns accordingly.

The Art of the Markdown: When and How Much?

• Set markdown schedules as part of every intake agreement transparency here prevents future arguments.
• Common markdowns: 20% off after 30 days, 40% off after 60 days, then move to clearance or donate.
• Announce “big mark-down days” via social media and in-store flyers for happy customers and fast inventory turnover.

Talking Pricing with Consignors

• Be prepared: show examples of similar sold items (in your shop or others).
• Explain the split, your justification for the tag, and how markdowns help everyone sell more and faster.
• Stay positive consignment shoppers expect fair deals; high prices help no one if items never sell!

FAQ: Pricing for Consignment and Thrift Stores

Simple Pricing Checklist for Every Shop Owner

• Research all categories before pricing
• Set minimum and maximum prices for common items
• Tag and track every item from intake to sale
• Review markdowns and removal timelines every week/month
• Adjust as you learn which stock sells fastest

Next Steps and Strategy

• Review Our Guide to Accepting Consigned Items
• Update price charts at least quarterly
• Use consignment software for pricing history and easy reporting