How It Works
We will do all we can to sell your clothes in a timely manner, at an appropriate price. We will be responsible for documenting any consigned items and money owed to you. We hope to make your experience with us is pleasurable and profitable!
What We Are Looking For:
We are interested in clothing, handbags, wallets, shoes, belts, jewelry accessories, and any potential additional items we believe will sell. Items that are in excellent, unstained, clean, pleasant smelling, ready to wear condition. If it is not, a laundry/dry a cleaning fee will be required.
We reserve the right to select items we think will sell. We also reserve the right to pass on items, without explanation, we believe will not.
The first month the commission split at The Downtown Exchange is 50/50. The consigner will receive 50% of the price the item is sold at if sold 30 days after being put onto the sales floor.
The second month the commission split at The Downtown Exchange is 60/40. The consigner will receive 40% of the price the item is sold at if sold between 30 and 60 days after being put onto the sales floor.
The third month the commission split at The Downtown Exchange is 70/30. The consigner will receive 30% of the price the item is sold at if sold between 60 and 90 days after being put onto the sales floor.
The fourth month the commission split at The Downtown Exchange is 70/30. The consigner will receive 30% of the price the item is sold at if sold between 90 and 120 days after being put onto the sales floor. Items will be marked 50% off at this time frame, therefore the consigner will receive 30% of the 50% markdown price.
First Drop Off:
A consigner’s first drop off must be made by appointment, just like all other drop-offs. This permits ample time for the consigner and The Downtown Exchange to go through clothing and agree on terms of consignment. The consigner may either drop off clothes and come back to pick up clothes before closing, or choose to stay in the store while The Downtown Exchange goes through their clothes.
All Other Drop Offs:
Quick Drop: If the consigner needs to drop off items in a hurry, they may fill out a “Quick Drop” slip, and bring clothing in to the front desk. Sellable items will be added to the consigner’s account. Unsellable clothing will be donated or set aside for the consigner to pick up before closing. This choice is notated on the “Quick Drop” slip.
Mail In: If a consigner relocates further than 20 miles away, we will accept mailed in drop offs at the consigner’s shipping expense. Any items not taken may be donated, or mailed back at the consigner’s expense.
*The Downtown Exchange is permitted 2 weeks to process all clothing and have it posted online or displayed in store. We will notify the consigner when items are posted or displayed upon consigner’s request.
The selling price of each item will be determined by The Downtown Exchange. Final selling prices are determined by applied promotions, length of time in the store, type of item, and general competitive market pricing. Prices are subject to reduction as deemed necessary to successfully move product in a timely manner. These markdowns are at the discretion of management.
We do not negotiate prices with consigners, however, we are willing to discuss price guarantees, during appointments, if an item is of high quality, branding, or if the consigner would not like it sold for less than a set price. The Downtown Exchange reserves the right to not accept discussed price guarantees, and the consigner reserves the right to keep any clothing that cannot be sold at the price they desire.
If The Downtown Exchange and the consigner agree on a price guarantee it will be documented in the consigner’s account.
If The Downtown Exchange feels that they can get the price guarantee more effectively through using e-commerce, we will do so upon granted permission of the consigner.
E-commerce items will be listed on The Downtown Exchange’s website for the first two weeks after it is processed. After 2 weeks, the items will be taken off of the website and displayed in the store. If the consigner would prefer to not have their items listed, The Downtown Exchange must be notified at drop off, and it must be notated in the consigner’s contract agreement.
If a customer desires to sell clothes directly to The Downtown Exchange, they will be bought at 30% of what it will be sold for. The Downtown Exchange reserves the right to decline an outright buy.
Options for commission payout are:
__Store Credit: Store credit can be utilized at check out at any time. It is pulled from the consigners commission total and the debit will be noted as “Store Credit” on monthly reports. Store credit must be used before payout.
__Check: Checks can be picked up in store. A photo ID is required, for the safety of the consigner.
__Cash App: You can have a direct payment made via Square Cash App. This allows The Downtown Exchange to pay the consigner instantly on the first Monday of every month. The consigner can choose instant deposit for 1% or a 1-3 business day deposit for 0%. This allows the consigner to not have to come pick up a check every month and get paid easier.
__Outright Cash: If the consigner and The Downtown Exchange agree to an outright buy for a small amount of clothing, cash will be paid on the spot. This is done on a case by case basis during appointments.
__Mailed: Mailed checks are only available for out of town consigners the live 20 miles away or more. There will be a fee deducted from commissions to compensate for mailing expenses.
*We will payout commissions from the previous month on the first Monday of every month. A request for a sooner payout must be given 1 week in advance. If consigner does not pick up their monthly commission check their money will roll over into the next month. After one year of outstanding payment to the consigner from The Downtown Exchange the commission is forfeited and becomes the property of The Downtown Exchange.
Commissions expire after 12 months. After expiration, any commissions belong to The Downtown Exchange.
The Downtown Exchange will do its best to handle items with care, however we are not liable or responsible for items lost or damaged due to fire, flood, theft, mail lost in transit, or any other causes. Items remain the property of the consigner until sold.
Reclaiming Unsold Items:
Unsold items will be released back to the consigner after 4 months. The consigner will be notified of their clothing needing to be picked up by phone or email. Any unclaimed items will become the property of The Downtown Exchange 1 month after the consigner has been notified to pick up items.
It is the responsibility of the consigner to contact The Downtown Exchange to have items pulled and ready to be picked up if so desired before the end of the applicable season.
If the consigner wishes to pick up consigned items before expiration there is be a $5 fee, regardless of the number of items pulled. There must be a 1 week notice if pulling more than 10 items and a 24-hour notice on any amount of items less than 10. The reclaimed clothing must be picked up from the store by the consigner.