Thank you for your interest in consigning with The Reloved Rack. This document sets out the terms under under which we will engage with you, the Consignor. This information is STRICTLY CONFIDENTIAL and must not be distributed to any third party, in whole or part, without our express permission.
Terms & Conditions (Consignors)
- We provide a market-based suggested selling price however, the final selling price is determined by the Consignor and MUST be agreed with us before items are listed for sale. We reserve the right to turn down an item should the pricing be divergent from market standards for similar items.
NB: The purchase price doesn’t determine the consignment sale price.
- Our listed pricing for each item is always commission inclusive and should NOT be taken as the final payout to the Consignor.
- Our items are priced in NGN and USD and payment is accepted in any of these currencies. Benchmark USD/NGN rate is at a discount to the prevailing rate at the time of consignment, which is less than the market rate.
- If you have concerns about how a particular item will be priced, please leave a question comment in the signup form and it will be addressed.
INVENTORY, COMMISSION & PAYOUTS
We accept ONLY the following items:
- Shoes – Brand new or ‘like new’ condition with a minimum of dustbags. Box preferred.
- Bags – Brand new or excellent condition (no structural defects) with dustbag.
- Clothing – Brand new with tags.
- Accessories – No defects (Male and Female).
ALL ITEMS MUST BE AUTHENTIC!
- We charge a 20% commission for premium designer brands and 35% for non-premium designer brands, high street, and Nigerian brands. Your items will be assessed based on these brand categories and notified to you accordingly.
- You will receive 80% or 65% of the final selling price depending on your item categorization.
- Where proof of authenticity/ purchase cannot be provided, we will authenticate the consignment items at a flat fee of $20 per item.
- We aim to process all payouts within one (1) week from the date of purchase.
- The selling period for the Consignor’s items is sixty (60) days from the drop-off date. All unsold items will be returned at the Consignor’s cost within three (3) days following the expiration of the 60-day period.
- Where the Consignor is unable to receive the items on the return date, an alternative date will be agreed upon with the Consignor. Should a sale occur on said items prior to the return date, such a sale will incur a commission of 50%.
- We will do our best to safeguard your items while in our possession. Nonetheless, please note that all consignment items are deposited at the owner’s risk. TR shall not be held responsible for damage, or theft.
- All items must be cleaned/polished/dusted before sending through to us. Any item not meeting a basic standard of cleanliness will be returned or a fee of N10,000 will be charged to the Consignor for cleaning fixing of items.
- We reserve the right to accept or decline consignment items.