Consignment Policy

Store Policies

 

Consignors can sell items for either cash or store credit.  Second Gear mails checks to consignors each month for any items sold for “cash” in the previous month.  The store strives to mail all consignment checks by the 10th of the month.  Consignors selling items for store credit are credited as soon as an item sells.  Consignors may access their account balances online upon request.  Feel free to stop by the store or call for your credit balance.

 

Consignment Rates

 

Consignors receive 50% of an item’s selling price for cash, and 60% for store credit.  For example, selling an item for $100 would yield $50 in cash or $60 in store credit.  Consignors also receive an additional 10% if an item sells for $250 or more.  

 

Selling Price Cash Store Credit
Up to $249.99 50% 60%
$250 and over 60% 70%

Pricing and Monthly Discounts

 

Selling price is initially determined by Second Gear with input from the consignor.  On the first of the month items are discounted by 10%, and then are discounted an additional 10% every month they don’t sell.  For example, if an item hasn’t sold after a month it will get 10% cheaper, if it hasn’t sold after two months it will get 20% cheaper, and so on.  Second Gear reserves the right to reduce prices further for sales or other promotions.  Any consigned item priced initially at under $50 that is on the sales floor for 150 days becomes property of Second Gear.  It is the responsibility of the consignor to retrieve unsold merchandise before 150 days have expired, consignors will not be notified as the expiration date nears.  A consigned item initially priced over $50 will be either repriced or returned to consignor after 150 days.

 

Additional Policies

 

Items for sale at Second Gear are the consignor’s until they sell or 150 days has expired.  A consignor may also retrieve an item at any time.  Second Gear may ask the consignor to retrieve any unsold items at any time.  If the consignor fails to respond to Second Gear’s request to retrieve unsold items within 14 days, then the consigned items may be donated by Second Gear to Goodwill or a similar non-profit.