Thrift stores aren’t alone

Thrift stores aren’t the only option for bargain hunters. There are also consignment, classified and pawn. These are places where you can save money and still get stellar deals. Differences between these four options are:

  1. When you get paid
  2. When you surrender item ownership
  3. Whether someone else helps you sell your items

Consignment Shops – Loved more by buyers than sellers.

These shops sell an owner’s goods, and the owner will retain ownership until they’re sold. If you cosigned a stereo for $30, the shop would take 50% and you’d receive the remainder of the money. Items are in place for 30, 60 or 90-day cycles. If the item fails to sell, it will be discounted. The Elephant Tree and Boomerang are two examples in the Kansas City area.

consignment-shop-1-e1483633269393

Pawn Shops – You get paid, even if the store doesn’t sell your stuff.

The pawn shop will determine the worth of your items and pay you that amount. At this point, the items are no longer yours. Plato’s Closet and Half Price Books are both pawn-shop examples. You keep your money even if the store can’t sell your items – they’re the one taking the risk.

Half Price Books horiz_red

Classifieds – People love classifieds because fees are lower than other shops.

This is a way to advertise your items by listing them in a newspaper or online ad. Classified ads are popular because required fees are less than fees charged by pawn and consignment shops. Craigslist is the most popular option because it’s free and gives more control to sellers. E-Bay and Amazon are also examples.

craigslist-logo.jpg

Thrift Shops – People donate because they know it’s for a good cause.

Most thrift stores are run by non-profits and survive on community donations. Donators receive a tax-deductible receipt for the estimated cost of items they drop off at the store. Most people enjoy donating their items because they know it’s for a good cause. Non-profit thrift store giants are Goodwill, Savers and Salvation Army.

salvationarmylogo1

Advertisements

Plato’s Closet review

To some, thrift stores are a place to find the cheapest crap. They’re unsanitary and disorganized. The only people who shop there are stringy, tacky or poor. While thrift stores are not the equivalent of a five-star hotel, they’re still relatively clean and organized. In my eyes, the one that wins the award for most stylish, contemporary items is Plato’s Closet.

25ba6275-b851-49f6-89e0-c39a604e4369

Plato’s Closet targets high school students. They understand the need for students to save money while still sporting the latest trends. Their items fit every style whether goth, preppy, chic, sporty, vintage or hipster. The strategy for updating their selection is by purchasing items from their customers. All you have to do is bring in current name brand attire, and you’ll receive cash on the spot.

“You don’t feel like you’re in a thrift store when every item you look at is from a name-brand store you recognize, like American Eagle, Loft or J. Crew.”

how_to_sell

In addition to receiving money for name brand clothing and accessories, you’ll enjoy Plato’s relaxing environment. From alternative music to comfy seating, you’ll shop comfortably for hours. You’ll browse endless attractive choices. I have been to Plato’s Closet dozens of times, but my greatest purchase was a $10 leather jacket. If you’re young and want to be hip, I’d recommend taking some time to check out Plato’s Closet and save some green.