Consigning your handmade jewelry in a local shop gives you a chance to see how your jewelry will do before taking your business to a larger market. This method of selling your jewelry also gives you the benefit of working when you want to without the pressure of order deadlines. Make sure to check with the venue you are selling your jewelry at to make sure there are no additional fees besides the consignment rate.
How It Works
When you sell an item on a consignment basis you give the store owner permission to sell the item for you. In turn the store takes a percentage of the final cost, known as the consignment rate. When the item sells, the owner will write you a check for your percentage of your consignment rate agreement.
Consignment rates in local stores can range from 20 to 50 percent of the price of the jewelry. However, the average is generally somewhere between 30 and 40 percent. This is the percentage of the final sale price the store gets to keep for displaying and selling your jewelry.
If you are in need for money now, some stores will give you an alternative option to consigning. You may be able to offer the jewelry to the store owner for the same rate as consigning but be paid for the item up front. For example, if the item was to sell for $100 and the store's consignment rate would have been 40 percent, you can ask for $60 up front. Be careful with this option because some stores may charge a higher percentage if they are paying for the item in advance of selling it.
You also have online stores that will sell your jewelry on a consignment basis. Some online sites offer a sliding scale consignment percentage rate that is based on the final selling price of the item. For example, the percentage rate may be only 30 percent for items over $300 and 35 percent for those $300 and under. Online stores may also charge a listing fee in addition to the consignment percentage.
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