Question

What is consignment ?​

Answer 1

Consignment :

Consignment is a business arrangement in which a business, also referred to as a consignee, agrees to pay a seller, or consignor, for merchandise after the item sells. Consignment businesses are typically retail stores that specialize in a particular type of consumer product.

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Answer 2

Answer:

Consignment is a business arrangement in which a business, also referred to as a consignee, agrees to pay a seller, or consignor, for merchandise after the item sells. Consignment businesses are typically retail stores that specialize in a particular type of consumer product. The business accepts items for sale and agrees to pay the seller a percentage of the proceeds if and when the goods do sell.

Common products sold through consignment, or second-hand, stores include:

Clothing

Shoes

Athletic equipment and gear

Baby furniture and accessories

Antiques and collectibles

Furniture

Toys

Musical instruments