East Texans downsizing, good news for consignment stores

By Philippe Djegal - email
Posted by Ellen Krafve - email

TYLER, TX (KLTV) - Resale business owners say, that with food and energy costs rising and retirement accounts shrinking, customers are trying to sell their furniture off in droves.

"People are looking for ways to add to their income by trying to sell a lot of their valuables," said Marly Meyer of Tyler.

Meyer says in the three years she has owned Encore Consignment, she hasn't seen this many customers looking to sell off their furniture.

"It's the first time I've really seen entire trailers stop by the store to see if we could buy or if they could cosign," said Meyer.

Consignment is where, instead of selling your furniture online or at a garage sale, you have the consignment store sell it for you. The profit from each sale item is then split 50-50, between the customer and the store.

"We have people who own multiple homes or lake houses," said Meyer. "They're selling those [and] downsizing just to one house."

Owner of Rega of Paris Consignment Shop, Kate Kombos says despite the recession she, too, is seeing an increase in business.

"We're up 32% from last year, and even last year we were up," said Kombos. "So, nationwide we're with the flow with everyone else."

Kombos is also a member of the National Association of Resale and Thrift Shops. She says recessions are the perfect opportunity for resellers to attract new customers.

"I think the future for resale is very bright because people are always going to be looking for a good bargain," said Kombos. "So, I think we just can go up and up."

"Consignment is always good because you could get a really good piece of furniture for a lot less than you would pay for it new," said Meyer.

Both store owners stressed that they don't just take any old furniture. The resale items have to be in good condition, which is a major factor in determining how much the resale item is worth.

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