Tips for Consignment

I recently introduced (yet another) friend to my favorite store, Second Time Around.  A fellow fashionista, she of course loved it!  She summed up the amazing-ness of the store by describing how it allows her to solve two problems in one:

First, “I love to shop!”  Don’t I know it.  And STA makes it possible to shop many designers at once, all at discounted prices. 

Second, “I have too many clothes!”  STA is great because it allows to keep your wardrobe space in check.  When you bring in the new, don’t forget to consign the old!

So, if you haven’t already started shopping at Second Time Around... what’s wrong with you?  Go this weekend!  While you’re at it, I recommend signing up for the STA e-newsletter (in stores or online).  They don’t bog you down with tons of messages.  I usually receive only a handful per month that either let me know about sales or special shopping parties with extra hours, snacks and drinks!

Every holiday weekend (Labor Day, Columbus Day, etc.), Second Time Around will have a sale with all merchandise at least 30% off, with some items up to 50% and 70% off.  Now is an especially great time to sign up because the holidays are almost upon us!  STA has a great Black Friday sale that I wouldn't dream of missing!

Consigning, most do not realize, is actually part science, part art-form.  The first thing you need to know is that walk-in appointments are not accepted.  You have to call in advance and reserve your own 30 minute time slot. The super-difficult thing is that appointments are only offered during the week days, with the latest available time slot at 6 pm.   So, plan ahead, get your consignment items ready using my tips and guidelines below, and make the most of it!

Basic Guidelines
- Only bring items that are in season.  Some things like jeans and tops are consignable year-round.
- Ensure your items are washed, ironed and otherwise in good condition.  Presentation is important.
- Bring a variety of items and brands.  You never know what will go!  Note that you're allowed up to 30 items per appointment.
- Don't forget accessories and jewelry.  STA loves jewelry, even and especially costume jewelry.  I've also consigned belts, clutches, scarves and shoes!

Further tips
- If at first you don't succeed, try, try again!  Sometimes, for whatever reason, an item that I think is perfectly consignment-ready is not accepted.  In these cases, I either try consigning it at a different location, or putting it away for a few months to try again when the seasons change.  What is accepted depends on so many factors that I am most often successful at getting these items consigned (and sold!)  It could that the store already has too many of what you're trying to consign, that the item isn't a perfect match for the clientele at that location, or even that your item just needs a little love and recognition from a different associate. 
- Get to know the sales associates!  I've been incredibly impressed with the friendliness and helpfulness of the staff at each of the locations I've been to.  There are always perks to being on good terms with the sales staff...
- If you can't sell something via consignment, all is not lost.  I donate monthly to charity and get a valuable tax credit for everything I give.  My donations go to Housing Works which is fantastic, because they also accept books, house goods, etc.  Salvation Army works the same way.  Don't forget to grab a receipt!

Save Here, Shop There...

I love to spend my money on clothes, shoes, accessories, handbags… you get the idea.  Like everyone else, though, I have bills to pay, so my monthly shopping budget is pretty limited.  As I’ve gotten older, and even as my means have increased, I have actually become more frugal.  I love to spend on fashion – also dining out and traveling – so I make sure that just about every dollar I part with is well spent.  If you’re looking for some extra cash to invest in key fashion pieces, try some of my favorite tips below!

Take the Subway

I LOVE the subway.  I take it almost all the time, unless I can walk wherever I’m going!  I think it's odd that so many people are under the weird delusion that taking a cab is faster.  Honestly, in my experience, it's usually not.  The streets of New York are clogged during work hours and throughout the entire evening as people go out to eat and drink.  This covers just about every living moment besides perhaps a short window of time in the middle of the night between 2 – 5 am.  And that’s the only time I take cabs.

My Other Favorite Store

It’s clear by now that my favorites stores are Second Time Around and Bloomingdale's.  But there’s actually one more: Trader Joe’s. Some basic calculations show that I save about 40% on my weekly grocery bill by shopping exclusively at Trader Joes – which amounts to a few hundred dollars a year!  Yes, there are almost always really long lines, but they move really fast, and you can use the time to check your Facebook feed, play Words with Friends, check in with Mom, etc.  As if you weren't going to do that anyway.

House Party

When I think of all the money that my friends and I spend in bars, I wince.  The mark-up is so ridiculous!  This is especially true for NYC, but also very much so in any urban area.  My solution?  Invite friends over for an evening at your place, and have everyone bring something to drink (and eat!), even if space is a little tight.  Instead a $50+ dinner followed by rounds of $10 cocktails, spend less than $30 each and I guarantee you everyone will have their fill to eat and drink.  I encourage you, of course, to check out the Trader Joe’s wine store on 14th Street!  You don’t have to buy “two buck chuck” but there is an enormous selection of great reds, whites, roses and sparkling wines for under $10.

Cut the Cable

When I moved into my own apartment just over two years ago, I made the big decision to forego cable.  And, honestly, I haven’t regretted it once.  I have a monthly $7.99 Netflix subscription which allows me to stream movies and TV shows onto my computer.  And, most networks offer their shows online for free!  I had a TV from my previous apartment, so I just use an HDMI cord to hook up my laptop to it, and voila!

LearnVest
Last year I stumbled upon this website that is geared specifically towards helping women with their finances.  Per the website, the mission of LearnVest is to "empower women everywhere to take control of their personal finances so that they can afford their dreams... by giving [them] the information, tools, and support [they] need to earn well, save well, and spend well."  Amazing!  By women, for women - this site has recipe ideas, discussions on important financial topics, "bootcamps" for intense learning, financial calculators, and more.  I subscribe to the daily email which never fails to deliver interesting and useful ideas.  Do yourself a big favor and sign up!

Get a New Wardrobe for $30

Need new options?  You can revitalize your wardrobe with less than $30!

Instead of buying new things, we're going to work with what we've got.  You know how people miss obvious spelling and grammatical errors on papers they've read over and over?  With your wardrobe, it's the same thing!  We get into the habit of pairing the same colors and materials together over and over and we forget to change things up and combine things differently.  Your action plan is below.

First: Call a friend whose sense of style you trust. Tell her that you need her help (flattery gets you everywhere) and invite her to your place for wine and cheese (that's where the $30 comes in).  Set a date - you'll need two or three hours.

Second: Prep your closet in advance.  Do your laundry and dry-cleaning, and make sure everything is organized.  Get rid of things that are worn out or don't fit.  Click here for more advice on how to whip your wardrobe into shape.

Third: Fill in your friend - she's going to be your Wardrobe Consultant.  The goal is to bring a fresh perspective to your clothes, shoes and accessories.  Give him or her access to your closet, and let them get to work making suggestions on what pieces would go together nicely.  You’ll be surprised at how many new outfits someone else can pull out of your closet!

Finally: Swap with your friend!  Make a date to liven up her closet in the next few weeks.  Drinks on her this time!

Here are some fun pairings I’ve come up with in my own closet. 

At first I thought the bright and dark contrast of this skirt and sheer top would be too much.  But as I put the two pieces together, I noticed that the lighter yellow shades in the top paired really well with the bright hue of the skirt.  This will be great for Fall!

My Mom told me when I was younger, that when she was a girl, her mother gave her this piece of fashion advice, “Red and pink, you stink!”  I disagree.  I actually love putting together different colors within the same family, like this off-white top with navy polka dots and bright blue cardigan. 

Finally, this bright yellow top has been tough to figure out, but it actually looks great with this green skirt.  I especially love the way the feminine ruffle contrasts with the tougher look of the skirt's paneling and brass buttons.

A few more ideas before you go...

Tip: Reference a J. Crew catalog or the website.  The brand does an excellent job of pairing unexpected, bright colors!  Your style doesn't necessarily have to be as preppy, but you can take cues from their color and material match-ups.

Extra: Set aside five items that you love but have had trouble figuring out how to wear.  You can be your own Wardrobe Consultant be singling out these items and actively 

I do this all the time.  If I'm really stumped I will literally hold something up against every top I own until I see a connection.  If you love something, it'll be worth it!

One More Thing: Gray goes with everything!  And it's classic.

Price vs. Value

Let’s talk about price and value, two concepts that are confused much more often than you’d think!

Price: the quantity of one thing (usually currency) that is exchanged or demanded in barter or sale.

Value: the relative worth, utility or importance of a thing.

The thing about value is that it’s relative, compared to any number of other factors.  You might not ordinarily value a cheap umbrella, for example, at more than $5.  But if you’re caught unexpectedly in a downpour, the value of that umbrella probably just doubled to $10.  Excluding environmental factors (I thought that was a good illustration), value is highly personal, especially when it comes to fashion.

When contemplating a purchase, try to take into account the following points if you are struggling to decide whether you should spend:

Point #1
How critical is the item to your wardrobe?  If you really need a black pencil skirt for work and don’t have any others, you might consider spending more ($100+) on a really nice piece from J. Crew.  However, if you already have several similar skirts, the value is not as high. 

Point #2 

How much will you be able to use the  item? Calculate "lifetime value” by dividing the cost by the expected number of uses.  A new MICHAEL Michael Kors watch may cost $200, but if you wear it only two days a week for three years, that comes out to only $0.64 per use.  That’s great value!  I've had this Michael Kors watch since 2006 and now the brand offers dozens of styles in gold, silver, tortoise, etc!

Point #3

How much do you love it?  I understand that sometimes we encounter that bag, blouse or bracelet that you feel must have been made just for you.  If you feel that something really represents your sense of style, the value is higher.

You’ll need to also keep in mind that no matter the price or value, don’t buy anything if you really can’t afford it.  What’s most valuable is your financial security – and the ability to pay the rent!  See my list of “Budgeting Basics” for an idea about how to save for higher-value items.

Sell / Consign / Donate

Not so long ago, people had few pieces of clothing and they wore them every day.  This is thankfully not the case anymore.  Now we have a huge amount of options to choose from and, naturally, certain favorite items are worn much more frequently than others.  Which is why, every so often (I recommend quarterly), we need to sift through are wardrobes, and identify those neglected items.  The goal here is to have a closet filled entirely with favorites and no duds!

Unworn items could fall into a number  of different categories.  Before you go crazy, keep in mind that just because you haven’t worn something much doesn’t necessarily mean you should get rid of it.  I recommend taking a few minutes to see if you can figure out what to pair it with in your wardrobe.  Sometimes it takes a fresh pair of eyes (a friend) to pair things in your closet that you might not have thought about yourself. 

If you determine that an item really is ready to go, you have a number of options:

Sell: eBay is the best way to get the most money for items you want to sell.  There are fees, however you won’t be splitting the profits as you will with a consignment store.  Because eBay is virtual, the items that sell best are designer labels that online shoppers will be searching for and ready to buy.  Lower end and no-name brands likely won’t do well.  Note that when you list your item, include as much detail as possible in your listing to get the most and highest bids.

Consign: As you have learned by now, I'm Second Time Around's #1 fan.  Founded in Boston years ago, the company is expanding at an unbelievable rate and now has stores all over New England and in NYC, Chicago, D.C, etc.  To consign with STA, you'll need to call ahead to make an appointment.  You are allowed a maximum of 30 items, and I recommend bringing a mix of clothes, shoes and accessories.  If at least three items are accepted, your account will be created and you'll be able to track your inventory online.  Click here for New York Magazine's list of the city's consignment and thrift shops.

Donate: Items that can’t be sold can be donated to organizations like Housing Works and the Salvation Army that resell the items to raise money for their causes.  Note that many of these places also taking home goods (dish ware, furniture, etc.)  You should be able to drop by at any time during business hours.  Don’t forget a receipt for your tax return credit!

Recycle: Articles of clothing that are worn out can also be strategically disposed of.  In New York City, I go to the the Clothing & Textile Recycling stand stand in Union Square’s GrowNYC Greenmarket on Mondays or Saturdays to drop off old clothes, sheets, etc.  GrowNYC also accepts usable clothing items for donation and provides receipts.

I love cleaning through my closet.  Out with the old to make room for the new!

Reverse Shopping

Mostly to amuse my friends, I sometimes engage in what I call “reverse shopping.”  What I mean is returning and/or exchanging previously purchased items that I have decided for at least one of several reasons that I no longer want.

People waste so much money by buying things, forgetting them at the back of their closets, and getting rid of them years later unworn.  I think we owe it to ourselves to be more conscious of how we spend our hard-earned paychecks!

Here are a few rules that I follow in order to make the most of my monthly shopping budget:

• Check store return policies before you buy!  Bloomingdale’s has an excellent return policy, as does Anthropologie.  Both stores will accept returns at basically any time, given that the item has not been worn and that receipts are provided.

• This brings us to the next step.  Keep your receipts!  Organize them!  I am fortunate that I oddly actually enjoy organizing things.  I use a receipt accordion from Container Store to organize my receipts by category, making them much easier to find.

• When you get home from your shopping trip, mark your calendar with the last date an item can be returned if you have even an inkling of uncertainty!  I usually give myself two or three warnings leading up to the last day so that I remember to make my return if I end up deciding against my purchase.

• In the interim, keep the item where you can see it so that you remember to try it out.  Don’t feel silly if you’ve bought something you loved only to realize at home that it doesn’t work out as you thought.  Sometimes, things don’t fit quite as well as I thought they did in the cramped/poorly lit dressing room.  Other times, things just don’t mesh with my wardrobe and I just can’t pair it well with anything else.

Shop sensibly and enjoy!

Budgeting Basics

Good news, everyone! It’s possible to have a fantastic wardrobe on a tight budget. Here are some helpful rules to stick to: 

Rule #1
Don’t spend more than you have. If fashion is self-expression, make sure you are able to express the self-confidence of a woman who is in control of her finances. I recommend allocating a certain dollar amount per month based on your income and expenses, and shopping accordingly. 

Rule #2
Ask yourself the key questions below before buying anything. Don’t invest if you answer “no” to any of them!  (A) Does this flatter my figure?  (B) Can I wear this at least three different ways?  (C) Will I be able to wear this next year?  (D) Based on the material and craftsmanship, is this worth the price?

Rule #3
Buy versatile items. At least two-thirds of my wardrobe can be worn professionally or casually, depending on what I pair each piece with. A best bet: feminine blouses – sheer, patterned or colorful – look chic and sophisticated with a pencil skirt by day or skinny jeans by night.

Rule #4
Be resourceful. Go through your wardrobe quarterly to identify pieces that don’t belong. This includes items that don’t fit, don’t work with other things in your closet, or items you’re just plain sick of!  Set aside higher-end items in good condition for a trip to the consignment store where you’ll have the chance to make money off your goods. Drop off everything else at the nearest donation center – I use Housing Works – and make sure to get a receipt!  When February rolls around, you’ll save on your taxes by entering in everything you donated throughout the year.

Rule #5  
Save for bigger pieces instead of trying  to fit these purchases into your monthly budget. The online bank, ING Direct, has a wonderful tool that allows users to create sub-accounts within their savings accounts, to help them save towards various goals. You can also set up automatic deductions from your checking account to help you achieve your goal.