I had the pleasure of meeting Hannah Humphrey at Luxury Garage Sale a month or so ago at an event in Texas and she was so sweet that I just had to feature her here on Closet Full Of Cash. It totally doesn’t hurt either that I am a hige fan of Luxury Garage Sale and that they are my go to for consigning all of my treasures.
Ever since Tradesy made all the changes and jacked up commissions, I decided that I would rather have someone else take over the selling and we all know there are hundreds of options when consigning those Louboutins or Chanel bags but here’s why I trust and will continue to work with LGS.
- They’re fair. The split may be a little higher than selling myself but they have always done a fantastic job at pricing correctly, researching, photographing and shipping.
- 60% cash, 70% store credit and they always have specials where if you consign a specific item, you can receive a higher payout
- Returns. They did not take everything I sent last time but when I received the box back, I swear, everything was in better condition than when I sent it in.
- The consignment process is longer than most at six months which I prefer.
- They list on two platforms, their website and on eBay.
- Customer service is top notch. Every time I have reached out whether by email or phone call, I have received a response and/or an answer immediately.
- They have everything you could ever want from Men’s to Shoes to Home Goods to more!
- How long have you been at LGS and what brought you here?
I have been with LGS for a year and a half. I have always felt passionate about the resale business and it’s recycling message of reducing and reusing. When I saw that a client relations position opened up at LGS Dallas, I knew it was meant to be. I love LGS’s client-centered focus and everyone’s commitment to always seeking to improve the client experience.
- With all the companies out there, what makes LGS different?
LGS’s exceptional customer service and risk-free pricing are two significant things that differentiate us from other competitors. Clients get full transparency on pricing and we will never list items without their approval. Consignors can also set minimum selling prices on their items and be as involved or uninvolved in the process as they want.
LGS is also an omni-channel retailer operating several brick and mortar stores in Chicago, Dallas, and Minneapolis with ongoing pop-ups across the nation, in addition to our website and online presence. This allows our items get a lot of exposure on multiple platforms!
- You recently hired a new CEO, Trish Lukasik, who does not have a background in luxury resale. How will this impact the company and what are her immediate plans?
We are thrilled to have Trish, an incredibly talented leader, driving the next phase of LGS’s growth. Trish brings a wealth of experience including 17 years at PepsiCo where she rose through the ranks from junior finance manager to Chief Customer Officer for a $10 billion division. Trish now joins us after a successful stint as COO of SpotHero where she executed the acquisition and integration of their #2 competitor, helped complete a Series C financing, and brought business and people processes to life. All of her exceptional work resulted in a $100 million uptick in valuation in a 12 month period. We are delighted that Trish will bring her considerable energy and expertise to grow LGS revenues to $100 million and beyond.
We will working on building larger partnerships, driving business development opportunities forward, and most importantly, developing programs and initiatives around client experience.
Yves Saint Laurent Vintage Red Leather Bucket Bag
- Why would someone use LGS to consign their items?
At LGS, customer service is our top priority, allowing consignors to feel secure in giving their items to us.
Each consignor has their own personal account manager that is there to help them and answer questions each and every step along the way. Again, our risk-free pricing allows consignors to be as involved or uninvolved in the pricing process as they want to be. Our duty is to get our clients the highest return in the quickest time possible. We have a team dedicated to researching the resale market value of each item we take in. The brick & mortar boutiques also allow clients to see the quality of our products and how we take pride in every item.
- You also utilize the Ebay platform for selling, how do I know where my items may end up? What is the procedure for this?
When LGS first started, eBay was a strong selling channel for us. Still today, we have maintained a loyal following on eBay while also acquiring many other successful selling platforms. With that said, our items go to eBay, our website and other various platforms maximizing their sales potential. We have a merchandising team that selects the best online and store channels for each item.
Nicholas Kirkwood Black Suede Pumps
- You have retail locations also, any plans in expanding to different geographical areas?
Yes, that is the plan! We will continue doing pop-ups across the nation while exploring different markets. Will be going after this in a large way in 2018. Stay tuned, LGS might be coming to your area soon!
- What are the fees for consignment?
As a company, we offer consignors a starting commission of 60% of the selling price. This percentage split can sometimes be adjusted up to 80% depending on the item and promotion that we may be offering at that time. For example, for the month of November we are offering up to 80% commission on any Cartier jewelry consigned this month. We also have a great store credit option where consignors can receive 70% of the selling price. Our clients really take advantage of this option because it allows them to clear out their closet to make room for new pieces they love and have been coveting!
- What brands do you see the most and which are the fastest sellers on your platform?
Hermes, Chanel, & Louis Vuitton have consistently been and continue to be our top selling brands with handbags being the fastest selling category. With the retail market, brands trend in and out, which dictates the demand in the resale market. For example, 2 years ago Gucci was re-selling quite as high, but when Allesandro Michelle took over as creative director he completely revamped the brand and made it relevant again. Now, Gucci is flying off of our racks!
Louis Vuitton x Supreme Red and White Hooded Sweatshirt
- How do you handle authentication issues and what is your process?
We have in-house authenticators who are highly specialized in authenticating designer luxury goods. It is a very detailed process and something that we take very seriously at LGS. We have detailed specifications that each item needs to meet for us to accept into consignment. When people purchase anything from us, they know that we guarantee each item is 100% authentic.
- What is the consignment process and do you purchase items outright?
We only offer consignment and do not purchase items outright. Clients will work with their account manager to get their items to us via prepaid shipping labels, in-home pick-ups or in-store drop-offs. Once we get new items in, they go through an extensive processing line of authentication, pricing, photography etc. and then are listed online for sale and placed into one of our 4 stores. The initial consignment period is 6 months long, but after the 6 months any items that haven’t sold continue to be listed for sale until requested back by the consignor.
- Do you have a referral program for consignors to refer their friends? How do they get started?
We do have a referral program! We offer $50 in cash or $75 in store credit for every person referred to us that consigns! We have had clients build their store credit up over $1000 solely in referral credit! It’s a great option that I highly recommend everyone takes advantage of!
Versace Colbat Blue Old Fashion Glass
- What can we look forward to in 2018 with LGS?
There is a lot that we all have to look forward to in 2018 with Trish as our new CEO. Again, we will be executing more popups across the nation and will be working to expand our reach across the world! LGS has many exciting things in the works for 2018 that we cannot wait to share with everyone….so stay tuned!