July 27, 2017
By Noelani Piters
CONSIGN LIKE A MENSWEAR INSIDER AND RETIRE EARLY
While there’s nothing like using your hard-earned commission to score a rare LV x Supreme T-shirt or the latest iteration of Gucci loafers, the old adage ‘it takes money to make money’ holds a certain allure. The frenzied buying and flipping of Supreme pieces got us thinking — what can happen when you put your entire commission towards your future? We think channeling some cash into a few well-placed investments doesn’t sound half bad. Keep reading for our tips on turning your earnings into a small fortune and helping you retire early.
Consign Like An Insider
In order to earn the commission that could one day blossom into your nest egg, the first step is to understand the worth of your items and consign like an insider. We’ve broken it down into three earning tiers — $1,500, $5,000 and $10,000 commission — to help anyone make the most for their luxury goods. When you consign more items, you’ll unlock a higher commission rate, building up the earnings you’ll want to invest.
For sneakerheads and streetwear junkies who devote precious hours to waiting in line for the latest Supreme release, the time to consign is often sooner rather than later. “Streetwear brands can have the most volatility in the resale market and their value is most heightened just after the initial drop,” says our Men’s Category Director, Mayola Martinez. “If you do manage to cop the hard-to-get items, do a bit of research on what consumers are coveting and keep items in ‘pristine’ condition for maximum resale value.” Many must-haves from these streetwear brands have a much higher resale value than the original retail price, making it profitable to consign almost immediately after snagging a pair of Yeezys or a printed hoodie from Vetements. Anything with a logo will also retain its value in the current style sphere — think monogrammed pieces from Louis Vuitton and Gucci.
Men who sport the best of high and low can also cash out on the widespread popularity of their favorite brands. “Saint Laurent by Hedi Slimane, Gucci by Alessandro Michele and Rolex will all stand the test of time and have stable resale value since they’re fashion essentials,” notes Martinez. “They’re all smart investments both to buy and consign now.” Many labels have seen an uptick in sell-through rates in the normal retail market — Saint Laurent, for example, has seen a 113% growth in terms of revenue — and, subsequently, the demand for their products in the resale market has only increased.