Jewelry on Consignment a Nightmare
Evelyn Brooks Designs has been in business for almost nine years. Upcoming jewelry designers must ask themselves just as I did once, "How can I see my jewelry in boutiques and galleries? What can I do to make that happen? How do I find the best place for myself? How do I know my work will be accepted?" Allow me to share with you my story as a jewelry designer and how jewelry on consignment is a great boost for your new business, despite its sometimes nightmarish repercussions. My work was initially accepted at different boutiques and galleries right off the bat, "on consignment." This basically means that after bringing your jewelry, say 20-30 pieces, to a gallery or boutique, they will add your line to their inventory, selling it on your behalf while paying you a percentage of the earnings. Some galleries and boutiques may agree to pay you half at 50/50, while others arrange for a 60/40 or 70/30 payout. For example, a jewelry piece with the value of $100 under a 70/30 agreement will grant $70 or $30 to each party. Likewise, a 60/40 agreement owes $60 or $40 respectfully, either to you or the consignment shop. It is usually customary to receive payment 30 days after your piece is sold or to get paid within the first 7 days of the following month. [caption id="" align="alignnone" width="618"] Example of a Consignment Form @ Evelyn Brooks Designs[/caption] Luckily, I have been able to work with pretty good galleries and boutiques that have their consignment payment dates kept fairly consistent, allowing me to mark those dates down on my calendar and stay organized.
Among the galleries and boutiques I have worked with, some of my favorites are:Due to ethical reasons, I'm reluctant to state by name the specific galleries I suggest that a designer avoids. Alternatively, I intend to provide some guidance to those new to the business by sharing some unfortunate experiences I've had throughout my career, some of which felt like an absolute nightmare. As a jewelry designer, rule number one is having a consignment agreement in place, and if you haven't completed this step yet, I urge that you begin by researching what to include in the terms. Things you may consider...
- Time of your consignment (Do you want your pieces in store for thirty, sixty or ninety days? Or perhaps six months?)
- Form of payment and dates of payment
- Commitment and caring instructions for your jewelry
- Accounting method for your jewelry (my jewelry pieces have a code necessary for accounting purposes that shows what sells in my inventory)