What is a consignment shop? “Consignment shop" is a term for stores that offer quality used goods at a lower cost than new. Many offer new items as well. In the context of sale, it is usually understood that the consignee (the shop) pays the consignor (the person who owns the item) a portion (50/50) of the proceeds from the sale. Payment is not made until and unless the item actually sells. The consignor retains title to the item at all times, and can end the arrangement at any time by requesting return of the item. A specified period of time is commonly arranged, after which time if the item does not sell the owner can reclaim the item (or, if not reclaimed within a period of time, the seller can dispose of the item at his discretion). ****”Consignment shops” differ from charity or thrift shops, in which the original owner surrenders both physical possession and legal title to the item as a charitable donation, and the seller retains 100% of the proceeds from the sale. They also differ from pawn shops, in which the original owner can surrender both physical possession and legal title for an immediate payment, or surrender physical possession of the item in exchange for a loan, and can only reclaim the item upon repayment of the loan with interest or else surrender legal title to the item as well.****
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