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“You bought it because you loved it and wanted to wear it.” Christine Cournand, owner of One Last Look Consignment Boutique in Locust Valley, says the average resale value for a pre-owned item at her shop is one third of the original retail price. Plato’s Closet buys items outright from sellers. Luxe Swap and One Last Look will buy from consignors or accept items on consignment, keeping a percentage of the resale price as a commission. It may take time to see a return. Consignors are required to leave an item for a minimum of one week at One Last Look, with some things taking months to move. After 30 days, the boutique offers a 10 to 20 percent discount and after 60 days, merchandise is discounted 35 to 50 percent. Ultimately, the consignor (the person who gives the clothes to the shop to be sold) keeps at least half of the selling price. At One Last Look, your share increases with the selling price: $999 and less, the consignor gets 50 percent; $1,000 to $4,999, 70 percent; $5,000 and higher, 80 percent. Seasonality, size and condition all influence pricing at Luxe Swap, Ruiz says. “If we are purchasing items from a client we would roughly offer about 30 to 40 percent of what we think we can sell it for,” he says.
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