Spring is here, and it's time to cast off the tired clothes in your closets.
But once you've got your old duds bagged away, is it worth trading them in for cash?
"You can resell them," says Michelle Dalton Tyree from Fashion Trends Daily, "or you can consign them at a consignment store."
That's where you take your clothes in, and if the store thinks they can sell it, they will put it out on the floor. If and when it sells, you get the money.
"If you can be patient, you will actually make more money from consigning," says Tyree.
For example, Laura Armstrong, owner of Ampersand consignment boutique, estimates that a Diane von Furstenberg wrap dress can net a $75 profit if you sell through her store.
"At a resale store, you'd probably make $15," she guesses. "Online, because of constant reductions, you're going to make $26 to $40."
The practice isn't new, but it's seeing a resurgence because of heightened awareness through social media and the past downturn in the economy.
Tyree shares a few recommendations on where to start.
- There is OwlTalk in Eagle Rock, a longtime favorite with both locals and stylists
- Decades on Melrose is great if you have good designer pieces to unload
- Just a few doors down from them is Bluebird, which consigns kids clothing
But remember, some things move better than others.
"California girls love designers such as Isabel Marant, so that's always a hot seller," says Tyree. "Then there are designers who do not sell well. More than a couple mentioned that Armani and Michael Kors do not sell."