Consignment
Consignment is a business arrangement where items are left with a dealer or shop to sell on behalf of the original owner. Instead of buying items outright, the shop agrees to display and sell them, taking a percentage of the sale price as commission when the item sells. This model is very common in antique shops, vintage stores, and high-end resale businesses. It's different from regular retail because the shop doesn't own the inventory - they're acting more like a middleman between sellers and buyers.
Examples in Resumes
Managed consignment relationships with over 100 antique collectors
Developed pricing strategies for consignment items that increased sales by 30%
Handled consignment paperwork and maintained detailed inventory records for valuable antiques
Typical job title: "Consignment Managers"
Also try searching for:
Where to Find Consignment Managers
Professional Organizations
Online Communities
Job Resources
Example Interview Questions
Senior Level Questions
Q: How do you handle disputes between consignors and buyers?
Expected Answer: A senior manager should explain their process for clear documentation, communication protocols, and dispute resolution steps, emphasizing the importance of maintaining good relationships with both parties while protecting the business.
Q: What systems have you implemented to track consignment inventory and payments?
Expected Answer: They should describe experience with inventory management systems, payment tracking methods, and how they ensure accurate and timely payments to consignors while maintaining profitable operations.
Mid Level Questions
Q: How do you determine appropriate pricing for consignment items?
Expected Answer: Should explain their process for researching market values, considering item condition, brand/maker, age, and current market trends, while ensuring both consignor satisfaction and store profitability.
Q: What is your process for accepting or declining consignment items?
Expected Answer: Should discuss evaluation criteria, understanding of market demand, seasonal considerations, and how they diplomatically handle declining items that don't meet store standards.
Junior Level Questions
Q: What information do you need to include in a consignment agreement?
Expected Answer: Should mention basic elements like item description, pricing, commission rates, contract duration, and payment terms.
Q: How do you maintain organization of consignment inventory?
Expected Answer: Should describe basic inventory tracking methods, tagging systems, and how they keep track of different consignors' items.
Experience Level Indicators
Junior (0-2 years)
- Basic inventory management
- Customer service
- Processing consignment agreements
- Item pricing research
Mid (2-5 years)
- Consignor relationship management
- Market value assessment
- Sales strategy development
- Inventory tracking systems
Senior (5+ years)
- Business operations management
- Staff training and supervision
- Financial planning and analysis
- Dispute resolution
Red Flags to Watch For
- No experience with inventory tracking systems
- Poor understanding of pricing strategies
- Lack of basic accounting knowledge
- Weak communication or interpersonal skills
- No experience handling valuable or delicate items
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