Consignment Sales Rise as Economy Falls

At Georgetown's Christ Child Opportunity Shop, sales of antiques and collectibles are up 15 percent over last year. (By Marvin Joseph -- The Washington Post)
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At Georgetown's Christ Child Opportunity Shop, sales are up 15 percent over a year ago, and the number of inquiries has doubled. The consignment store is jammed with French soup tureens and monogrammed silver cake servers. "I think we're going to sell a lot of it," manager Jay York said. "People tend to not go out to eat in a recession. They will entertain at home."

There are customers for secondhand items because they are still cheaper than buying new.

At Replacements in Greensboro, N.C., a china, crystal and silver seller with 13 million old and new pieces in stock, president Scott Fleming said a Georgia woman sold her Portmeirion Botanic Garden dishes to make a mortgage payment. Another woman cashed in her sterling silver flatware to fund a Nova Scotia vacation.

"Our phone calls and purchases from individuals are up 10 percent this year," Fleming said. "They are hoping to get a few extra dollars in tough times."

So was federal government staff assistant Linda Wills, who collected mismatched gold earrings and rings and headed to Goldman's gold and silver buying service, which had set up shop at L'Enfant Plaza Hotel. "The economy is bad," Wills said. Her handful of gold was tested and weighed, and she was handed a check for $140. "This is $140 I can put in a savings account. It's some extra cash I didn't have to work for."

September was the biggest month for sales this year at the Gaithersburg iSold It eBay store. Open seven days a week, the store hosts a parade of suburbanites clutching Hummel figurines, Thomas Kinkade paintings, Redskins tickets and Coach handbags.

Owner Mike Hadad said: "A year ago, someone might have been selling something to upgrade to the latest model. Now it's because they can use the money for bills." Last week, Berta Hakes of Fairfield, Pa., carried in 11 Longaberger baskets, the pricey maple country designs prized by many collectors. She owns 40.

"I would like to have the cash instead," she said. "My savings is almost nonexistent."

One of Hadad's regular customers used his eBay sales as a source of income on a mortgage application. Another had Hadad sell the contents of a foreclosed home. But don't think you can sell any old thing to help replenish what you lost in your 401(k). Hadad said most Beanie Babies, Pokemon cards and 1970s rock albums have no real value.