by Annette.
(Tsomo Origins)
I am a bit confused. I have about a dozen pieces at a boutique in a downtown area.
Do I get 60% of my sale price on the item or do I get 60% of the sales price that they put on the item.
They up the price from what I would sell it for vending.
I would so appreciate some suggestions and how to change the arrangement if I have it all wrong.
Thanks
Annette
Tsomo Origins
Hi Annette!
When consigning your jewelry to the boutique, you’re receiving 60% of your regular retail price.
(By “retail price” I mean the regular full price you would charge an individual customer who purchased the piece of jewelry to wear or to give as a gift.)
So if your retail price on a bracelet is $50, you would consign it to the boutique for $30 (50 x .60 = 30).
However, before consigning your jewelry to the boutique, you and the boutique owner should have signed a consignment agreement, which spells out the details of how your transactions with that shop will work.
Does the agreement specify that you’ll receive 60% of whatever price the boutique sells the piece for? Or that you’ll get 60% of what you told the boutique owner your retail price is?
Also, an important point here – if the boutique owner is charging (and getting) higher retail prices for your jewelry than you’re currently charging – that’s a good sign you should be raising your prices.
I never sell my jewelry on consignment but I sell a lot of my handmade hats using that method. I have 4 boutiques that carry them from September to March.
As Rena said I get 60% of the retail price that I set. I do have an agreement with them that they must sell no higher than my retail because I want my designs to be the same price everywhere…shops, online, etc. I set the price, not them.
One of the shops has an annual 1/2 price sale so I adjusted the contract to say that I would remove my hats prior to the sale. I don’t jack up my prices enough to take 60% of half so I choose to pull them out.
Just make sure you always have an agreement in writing. In that contract you should address issues such as mark down sales, damages, theft to name a few. I am also included in the method of display decision. I want my pieces represented well. Remember, this is your hard work.
I have found that being a little fussy about where and how my product is displayed is respected. I was a little timid at first but have found the shopowners did not respect that much. They will also feel more privileged to carry your lines. Best to you!
A lot of good advice on consignment. Does anyone have a copy of a consignment agreement that I can see? I’d like mine to look professional but don’t have a clue on where to start. Thanks for any help!
I too would like to see a sample consignment agreement. This is a new avenue for me and I don’t want to run into any “surprises”.
Thank you
Hi, this is a very nice learning i m getting. i have recently started making small jewelry pieces and just glad that i m referring to this blog and the comments.
This is helping me lot to understand how the jewelry world works.
Thanks a lot ladies.
– Dharini
I have sold things on consignment before (a long time ago) and have also had an agreement but unfortunately do not have a copy of one any more I am talking to several stores about putting my jewelry in a couple in the area around where I live and would like to have an agreement ready when we come to terms. Is there any way someone could send me a copy of one or a link to an agreement that I could use? I would really appreciate it.
Thanks
Elizabeth
Thank you all for the good advice on how to sell on consignment I contacted a few boutiques about selling my jewellery’s, but had no idea on to go about the agreements. I would also appreciate if any have a copy or a link to an agreement that I can use.
Thanks,
Flo
Ladies be careful!!!!!!!!!!!!
I consigned several pieces of my jewelry to a shop, we signed their agreement, listed all the items, tagged each item with my consignment number and they “lost” 3 pieces!!!!!
When I went to take my pieces out after 6 months I brought my agreement with me. The manager and I walked around the store looking for each piece to check off the list. She came up 3 pieces short. I was devastated.
Her only reply was, “well, we’ve had al lot of shop lifting problems lately”.
I will never do this again.
If you feel strongly about doing consignment, make sure you visit the shop on at least a bi-weekly basis to actually see all of the items you have on display. Then, if one seems to be missing, you can always say, “I guess you sold piece #101 because I don’t see it here.
Or “Could you help me find piece #101, I don’t seem to find it anywhere on display”
Best of luck to all of you and thanks for this great newsletter.
Ellie
I found a consignment agreement that seems acceptable on wubbersu.com – you can set up a free account first – or sign in as a guest. Search for ‘consignment agreement’ and it will come up. There are many other helpful tutorials in there too.
I am going to be speaking with a potential client today about consigning some of my work but she has suggested that we display them in a locked case which she will have to open to show the customers. Most of my pieces are make to order anyway so this works for me. Best of luck.
Sue