New vs. Used
Keep in mind the original price of the item when it was NEW. Most shoppers have an idea of what a product cost when it was new. An item that was $25 when it was new is unlikely to sell for $20 if it is used.
Tricks To Sell!
Consider...
...the overall condition of your item (Is the 100 block set missing 2 blocks? That's okay, but just put that on the tag and price accordingly)
...the current condition of your item (Is it all wrinkled up on the hanger? Run it through the dryer or give it a quick press!)
...is your item packaged neatly? Does it have animal hair all over it? These things make a difference!
...your own shopping habits! Listen, Mama. You are here at TTCS - that means you are a SMART SHOPPER! Most Mama's have a good idea of what things cost, and the racket that is "Suggested Retail Price". The reality is NO ONE EVER pays full price for anything! Keep that in mind when you are pricing your items.
MB's Rule of Thumb
We have lots of tricks on pricing here at TTCS!
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Price on the .50 ($2.50, $4.50, etc.)
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REMEMBER: nearly EVERY store runs sales constantly. So that dress that has a Suggested Retail Price of $60, be honest: what DID you pay for it? Probably half! Because you are a SMART MAMA!!
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Look at the manufacturer tag - there is probably a date there. Because Mama's are looking for current items, they probably won't pay as much for an item made in 2016 as they would for one made in 2022.
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Take condition into account. An item that is freshly pressed will sell for more than one that is wrinkled.
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Our General Rule of Thumb is to resell at 30% of retail (keeping in mind those sale prices). Price up or down according to age and condition. In the original box with manual? It should be marked higher than the same item in a ziplock bag with no instructions.
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Bargain Brands - resell for $2-4 (Walmart, Target, KMart, DG, etc.). These retail for $3-10 new.
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Department Store Brands - resell for $4-8 for basic pieces, $6-10 for dressier items (Kohl's. Belks, Penneys, etc.). Retail on basic pieces is usually $8-12, up to $30 for nicer pieces.
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Basic Mall Brands - resell for $4-6 (Old Navy, The Children's Place, Carters, etc.). Retail on these brands is usually around $6-15 (on sale!).
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Better Mall Brands - resell for $6-12 (Gymboree, Gap, Crew Cuts, Polo Ralph Lauren, etc.). Retail on these brands is usually $10-25 (again, on sale!)
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Boutique Brands - resell for $10-25 (MJ, Shrimp & Grits, Bailey Boys, smocked dresses, etc.). The prices vary wildly on these items; the 30% rule applies pretty well here.
Discount or No Discount?
Many new consignors choose not to discount their items. This is a mistake! The fact is there is a psychological factor in those little words "Discount" vs. "No Discount" on the tag.
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Most Important Thing To Read In This Section: do you REALLY want to take stuff that didn't sell BACK HOME? And STORE IT for the next sale? Marking DISCOUNT can help you avoid that!
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"Discount" to shoppers means that the seller is serious about selling it. They know it most likely won't be there by the time Discount day rolls around.
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"No Discount" can cause shoppers to feel that the seller wants too much for the item - even if it is reasonably priced. They may not purchase the item today because they feel like it will still be here at discount day - but on that day, most shoppers will choose the items marked "Discount".
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Bottom Line - don't drag it back home with you! Price it what YOU would pay for it, and remember: if you do mark that $5 item to discount and it sells at the discounted price of $2.50, is the difference enough for your to do all this again?
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