What is your consignment split?
Revenue on a sale is split 50/50 between LAB and the consignor.
How do I become a consignor?
How do you assess the condition of an item and what do your descriptions mean?
We inspect each item carefully to assess its quality. An accepted item is then classified into one of three categories: Excellent, Very Good, and Good.
Excellent Condition means: Item shows no signs of being worn. Items in this category often still have original sales tags on them. (If the sales tag is on the item, it will be highlighted as Excellent with Tags.) Clothing is in perfect condition. Shoes and boots may have been worn outside and have light scuffing on the soles, but the leather is perfect. Handbags are in perfect condition. Jewelry shows no signs of being worn.
Very Good Condition means: Clothing shows signs of being dry cleaned (meaning some coloir degradation) or it has a stain or snag the size of a pinhead, and is barely noticeable. For shoes and handbags to be classified as very good, it means that the items have been used more than once. The shoes and boots have sole scuffing. The handbags may have slightly worn corners. Jewelry may have slight scratches on the gold or silver, but the stones are still perfect.
Good Condition means: Designer clothing may have a very faint stain or ink mark. Shoes and handbags have clearly been used repeatedly, but are still without significant degradation. Jewelry has multiple scratches on gold and silver, but stones are fine.
Are items clean?
We demand of all consignors that items be without stains or odour prior to accepting them. We do carefully inspect every item, but cannot guarantee they have been professionally dry-cleaned immediately prior to submission. We can, however, guarantee the quality of the item and the condition.
How do you price?
Price is dependent on a number of factors: the quality of the item, the uniqueness of the item, the item's covet factor (totally subjective, of course), the condition of the item, the original selling price, and the current sale prices of similar premier designer items in stores and online.
What happens if I consign items and then I want them returned to me?
We ask that you leave the items with LAB for at least one month after they have been posted online. The procedure for researching price, pricing, preparing for photographing, photographing, editing, writing post and posting is a lengthy one. Please respect our time.
When my item sells, when do I get paid?
Depending on your payment preference, LAB will issue a cheque, PayPal payment, or electronic money transfer on the 15th day of each month for a sales period beginning on the 1st day of the previous month to the last day of the previous month. For example, for sales that occur within January 1 and January 31, payments will be issued on February 15. Note: payments will only be issued once the consignor has accumulated a balance owed of at least $100; if the consignor has yet to accumulate $100, their balance will be carried over to subsequent pay periods until the $100 threshold has been met.