Record Consignment?

dstill808

On a buy the other day a dude offered to give me his records and have me pay him as they sold. Apparantly this is something that some stores do on the regular, I hadn't really considered it before. I just gave the guy cash, because I didn't really think it would be a good look to enter into a sort of business contract with dude, but does anyone have any opinions on the viability of this method? Feel like relating an experience?

Jonny_Paycheck

only on big pieces, only if you need to, make sure you keep your money straight.

"Only for live men, not for freshmen"

DjArcadian

I know of some shops that do it. The benefit is you don't have to front cash, you just pay as you sell. That's good if you don't have funds to buy a large collection up front. You also have the option of returning whatever doesn't sell to the owner so you're not left with dead weight on your shelves.

However, you get the added level of paperwork having to track everything.

GenePontecorvo

Most of the good records available at the two good spots here in town are on consignment.

nrich

If you do that I would advise a written contractual agreement and have all the sales documented as well.
Verbal agreements are sketchy not only by their definition, but by the tendancy to fade with time.
Also, a fair consignment exchange is 30/70... the seller retaining 30% of the sale price minus fees/taxes.

dstill808

Also, a fair consignment exchange is 30/70... the seller retaining 30% of the sale price minus fees/taxes.

Thanks, I was going to ask about that too. It makes sense that due to the lack of risk involoved the store would be taking a smaller margin. As Paycheck says though, this would only benifit anyone if the pieces were relative heavy. In my experience, folks who have heavy-ish pieces are *usually* looking to accrue value towards more heavy pieces, rather than 70% of the market value in cash. Everyone needs money sometimes, though.