Sell or Consign

RIAM may be willing to purchase certain items outright at a wholesale rate if you prefer not to wait for them to get sold at a retail price over time.  Ask us about this option. We also make house calls for large collections and may be willing to purchase your entire estate or any fraction of it outright. Full estate clean-out is also available. Please inquire for details.

Our standard consignment term is 60 days. If your item doesn’t sell within that timeframe, the selling price is automatically reduced (usually by 30%) for the next 30 days. If it still doesn’t sell, the price is automatically reduced again (usually by another 20%). If after 90 days the item has still not sold then the consignor must either take it back or contact us to make other arrangements. Items not reclaimed within 15 days after the expiration of the consignment term shall be considered abandoned and the store will dispose of them at its sole discretion. As a courtesy RIAM will send you a reminder postcard if your item does not sell after the first 60 days, however we accept no responsibility for undelivered, lost, or forgotten notices.

No matter what day your consignment is initiated or what day your item sells, all sales are tallied on the last day of each month. Payments are then processed and mailed out by the 10th of the following month. Mid-month payouts can usually be arranged for a $10 service fee.

While every reasonable effort is made to protect your items, occasional breakage and theft are unavoidable in all retail establishments. All consigned items are taken in at the risk of the consignor. In many cases your homeowner’s policy will cover such losses (subject to your deductible). RIAM offers an insurance option for those who are concerned about such potential losses. The fee is calculated at 6% of the item’s retail value (for example, insurance for a $200 item is $12) and must be purchased at the time of consignment. In the event of theft or destruction of the insured item, the policy will pay the consignor the net value of the item (after the store’s commission) and where practical the damaged item is forfeited to the insurer. Thus for example, an insured stolen item currently priced at the time of loss at $500 with a 40% commission would pay the consignor $300. Minor “shop wear” is not covered by this policy.

RIAM management might determine that certain items may sell better on-line than in our shop. We will offer this alternative to you if appropriate.

Our fees are the same as in-store consignment, except that a $60 non-refundable listing fee will be charged for any item reclaimed by the consigner before it is sold. This listing fee will be fully waived if the item sells. No listing fee is charged for items listed using an absolute auction format starting at $9.99.