Second-hand shop

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A second-hand shop is a shop which sells used goods. Secondhand shops are often part of the different parts of the reuse or Circular economy. Different formats of second-hand shop exist, selling in different formats and type of content: from antique stores, to consignment, and various types of thrift or charity shop, where the used goods are sold.

Contents

The format of selling second hand goods in a shop, is not ubiquitous: the cost of operating a physical location alongside the need to handle large inventory, sometimes means that resellers opt for temporary venues like Flea market, garage sale s or temporary pop-up type sales.

Some goods have always had a vibrant second hand market that allow for the creation of permanent venues, such as antique s and books. With the advent of social movements focused on reuses in the 21st century, such as the sustainable fashion movement, other goods have become more economical for specialized stores focused on their resale.

Sketches by reporter-artist Marguerite Martyn of people in a St. Louis, Missouri, second-hand shop in 1920 People looking over goods in a second-hand shop as sketched by Marguerite Martyn in 1920.jpg
Sketches by reporter-artist Marguerite Martyn of people in a St. Louis, Missouri, second-hand shop in 1920
Second-hand Encyclopaedia Britannica books in a second-hand bookstore in Bugis, Singapore Britannica books in a second-hand store.jpg
Second-hand Encyclopaedia Britannica books in a second-hand bookstore in Bugis, Singapore
The Salvation Army Thrift Store in Santa Monica, California Salvation Army Thrift Store, Santa Monica, CA.JPG
The Salvation Army Thrift Store in Santa Monica, California

By format

Consignment

Consignment is a process whereby a person gives permission to another party to take care of their property and retains full ownership of the property until the item is sold to the final buyer. [1] It is generally done during auctions, shipping, goods transfer, or putting something up for sale in a consignment store. [2] The owner of the goods pays the third-party a portion of the sale for facilitating the sale. Consignors maintain the rights to their property until the item is sold or abandoned. Many consignment shops and online consignment platforms have a set time limit (usually 60–90 days) at which an item's availability for sale expires. Within the time of contract, reductions of the price are common to promote the sale of the item, but vary by the type of item sold (depending largely on the price point, or whether or not the item can be considered a luxury item).

Consignment stock is stock legally owned by one party but held by another, meaning that the risk and rewards regarding the said stock remain with the first party while the second party is responsible for distribution or retail operations. [3] [4]

The verb consign means "to send", and therefore the noun consignment means "sending goods to another person". In the case of retail consignment or sales consignment (often just referred to as a "consignment"), goods are sent to an agent for the purpose of sale. Legal ownership of these goods remains with the sender. The agent sells the goods on behalf of the sender according to instructions. The sender of goods is known as the consignor , and the agent entrusted with the custody and care of the goods is known as the consignee .

Free shops

Inside a free shop in Freiburg, Germany Umsonstladen Freiburg.jpg
Inside a free shop in Freiburg, Germany
360deg panorama of free shop in Bochum, Germany
(view as a 360deg interactive panorama) KostNixLaden Bochum Panorama.jpg
360° panorama of free shop in Bochum, Germany
( view as a 360° interactive panorama )
Give-away shops, freeshops, free stores or swap shops are stores where all goods are free. They are similar to charity shops, with mostly second-hand items—only everything is available at no cost. Whether it is a book, a piece of furniture, a garment or a household item, it is all freely given away, although some operate a one-in, one-out–type policy (swap shops). The free store is a form of constructive direct action that provides a shopping alternative to a monetary framework, allowing people to exchange goods and services outside of a money-based economy.

Junk shops

A junk shop in Caravanserai of Nishapur, Iran. Abbasid Caravanseray of Nishapur (Ribati-i-Abbasi of Nishapur) - Morning 194.JPG
A junk shop in Caravanserai of Nishapur, Iran.
A junk shop of Ueno Park, in Tokyo (Japan). Second-hand stall Ueno Park.jpg
A junk shop of Ueno Park, in Tokyo (Japan).
A junk shop is a retail outlet similar to a thrift store which sells mostly used goods at cheap prices. A low-quality antique shop may border on being a junk shop. Shoppers who frequent junk shops are often referred to as "junkers", "pickers", "bargain hunters", "rummagers", etc. [5]

Pawning

A pawnshop business in Munich, Germany in 2014 Leihhaus 20140220.jpg
A pawnshop business in Munich, Germany in 2014
Helsingin Pantti's pawnbroker in Helsinki, Finland in 2023 Helsingin Pantti Salomonkatu 3 Helsinki 20231117.jpg
Helsingin Pantti's pawnbroker in Helsinki, Finland in 2023
A London shop displays the traditional pawnbroker's sign Pawnbroker's sign, Camden High Street, London.JPG
A London shop displays the traditional pawnbroker's sign

A pawnbroker is an individual or business (pawnshop or pawn shop) that offers secured loans to people, with items of personal property used as collateral. The items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral. While many items can be pawned, pawnshops typically accept jewelry, musical instruments, home audio equipment, computers, video game systems, coins, gold, silver, televisions, cameras, power tools, firearms, and other relatively valuable items as collateral.

If an item is pawned for a loan (colloquially "hocked" or "popped" [6] ), within a certain contractual period of time the pawner may redeem it for the amount of the loan plus some agreed-upon amount for interest. In the United States the amount of time, and rate of interest, is governed by law and by the state commerce department policies. They have the same license as a bank, which is highly regulated. If the loan is not paid (or extended, if applicable) within the time period, the pawned item will be offered for sale to other customers by the pawnbroker. Unlike other lenders, the pawnbroker does not report the defaulted loan on the customer's credit report, since the pawnbroker has physical possession of the item and may recoup the loan value through outright sale of the item. The pawnbroker also sells items that have been sold outright to them by customers. Some pawnshops are willing to trade items in their shop for items brought to them by customers.

Thrift or charity shops

Shelves in a thrift store in Indianapolis, Indiana Thrift store goodies.jpg
Shelves in a thrift store in Indianapolis, Indiana
A charity shop in Sheringham, UK -2019-11-15 The each charity shop, Station road, Sheringham.JPG
A charity shop in Sheringham, UK
A charity shop (British English), thrift shop or thrift store (American English and Canadian English, also includes for-profit stores such as Savers) or opportunity shop or op-shop (Australian English and New Zealand English) is a retail establishment run by a charitable organization to raise money. Charity shops are a type of social enterprise. They sell mainly used goods such as clothing, books, music albums, shoes, toys, and furniture donated by the public, and are often staffed by volunteers. Because the items for sale were obtained for free, and business costs are low, the items can be sold at competitive prices. After costs are paid, all remaining income from the sales is used in accord with the organization's stated charitable purpose. Costs include purchase and/or depreciation of fixtures (clothing racks, bookshelves, counters, etc.), operating costs (maintenance, municipal service fees, electricity, heat, telephone, limited advertising) and the building lease or mortgage.

By good type

Antiques

An antique shop at Daan District, Taipei. Jin Chuan Wu Xi Yang Gu Dong 20240111.jpg
An antique shop at Daan District, Taipei.
A vintage travel gear seller at Marche Dauphine, Saint-Ouen, Paris Paris - Vintage travel gear seller at the marche Dauphine - 5212.jpg
A vintage travel gear seller at Marché Dauphine, Saint-Ouen, Paris
Interior of an antique shop in Kochi, India. Antique shop jew town kochi.jpg
Interior of an antique shop in Kochi, India.
Antique shop "Vaarin varasto" in Tammela, Tampere, Finland. Tammela109, Tampere, Finland.JPG
Antique shop "Vaarin varasto" in Tammela, Tampere, Finland.

An antique shop (or antiques shop) is a retail store specializing in the selling of antiques. Antiques shops generally have a physical presence in a shop where the wares are stored and displayed, but some antique shops are online, with no physical retail location.

Some antiques shops are located within an antique mall or "antiques market", where each seller can open a booth or stall and display their items for sale. [7] These mini-malls may be a form of consignment shop.

Usually stores' stock is sourced from auctions, estate sales, flea markets, garage sales, etc. Many items may pass through multiple antiques dealers along the product chain before arriving in a retail antiques shop. [8] By their very nature, these shops sell unique items and are typically willing to buy items, even from individuals. The quality of these items may vary from very low to extremely high and expensive, depending on the nature and location of the shop.

Frequently, many antique shops will be clustered together in nearby locations; in the same town such as in many places in New England, or on the same street such as Portobello Road or Camden in London, or in an antique mall.

Antiques shops may specialize in some particular segment of the market such as antique furniture or jewelry, but many shops stock a wide variety of inventory.

Books

A store of used books in Madrid MADRID 060310 MXALX 105.jpg
A store of used books in Madrid

Used bookstores (usually called "second-hand bookshops" in Great Britain [9] ) buy and sell used books and out-of-print books. A range of titles is available in used bookstores, including in print and out-of-print books. Book collectors tend to frequent used book stores. Large online bookstores offer used books for sale, too. Individuals wishing to sell their used books using online bookstores agree to terms outlined by the bookstore(s): for example, paying the online bookstore(s) a predetermined commission once the books have sold.

Used bookstores can range in size offering from several hundred to several hundred thousands of titles. They may be brick-and-mortar stores, internet-only stores, or a combination of both. A book town is a locale where numerous bookstores are located and serve as the town's main attraction to tourists.

The third largest bookstore chain in the United States, Half Price Books, primarily sells and buys used books along with new titles. [10]

Notable businesses

Other venues for second-hand resale

Websites that facilitate second-hand resale

Temporary venues

People will sell used goods right in front of their home in what is called a "garage sale". The products would be set up in front of the garage.

In the UK, people buy and sell at a car boot sale. Sellers will drive their vehicles to a large field, laden with products both used and new, and sell out of their boot.

Similarly regular Flea market s generate

See also

Related Research Articles

<span class="mw-page-title-main">Pawnbroker</span> Individual or business that offers loans, using personal property as collateral

A pawnbroker is an individual or business that offers secured loans to people, with items of personal property used as collateral. The items having been pawned to the broker are themselves called pledges or pawns, or simply the collateral. While many items can be pawned, pawnshops typically accept jewelry, musical instruments, home audio equipment, computers, video game systems, coins, gold, silver, televisions, cameras, power tools, firearms, and other relatively valuable items as collateral.

<span class="mw-page-title-main">Shopping</span> Buying goods

Shopping is an activity in which a customer browses the available goods or services presented by one or more retailers with the potential intent to purchase a suitable selection of them. A typology of shopper types has been developed by scholars which identifies one group of shoppers as recreational shoppers, that is, those who enjoy shopping and view it as a leisure activity.

Borders is a book and stationery retailer operating in Kuwait, Oman, Qatar and the United Arab Emirates by the Al Maya Group. It was founded in the United States in 1971 by brothers Tom and Louis Borders, who opened their first bookshop in Ann Arbor, Michigan.

<span class="mw-page-title-main">Charity shop</span> Retail establishment run by a charitable organization to raise money

A charity shop (British English), thrift shop or thrift store or opportunity shop or op-shop is a retail establishment run by a charitable organization to raise money. Charity shops are a type of social enterprise. They sell mainly used goods such as clothing, books, music albums, shoes, toys, and furniture donated by the public, and are often staffed by volunteers. Because the items for sale were obtained for free, and business costs are low, the items can be sold at competitive prices. After costs are paid, all remaining income from the sales is used in accord with the organization's stated charitable purpose. Costs include purchase and/or depreciation of fixtures, operating costs and the building lease or mortgage.

<span class="mw-page-title-main">Reseller</span> Company or individual that buys goods or services for resale

A reseller is a company or individual (merchant) that purchases goods or services with the intention of selling them rather than consuming or using them. Individual resellers are often referred to as middle men. This is usually done for profit. One example can be found in the industry of telecommunications, where companies buy excess amounts of transmission capacity or call time from other carriers and resell it to smaller carriers. Resale can be seen in everyday life from yard sales to selling used cars.

<span class="mw-page-title-main">Used good</span> Item that is not new being sold or transferred

Used goods, also known as secondhand goods, are any item of personal property offered for sale not as new, including metals in any form except coins that are legal tender, but excluding books, magazines, and postage stamps. Used goods may also be handed down, especially among family or close friends, as a hand-me-down.

<span class="mw-page-title-main">Fence (criminal)</span> Person who knowingly buys stolen goods in order to later resell them for profit

A fence, also known as a receiver, mover, or moving man, is an individual who knowingly buys stolen goods in order to later resell them for profit. The fence acts as a middleman between thieves and the eventual buyers of stolen goods who may not be aware that the goods are stolen.

<span class="mw-page-title-main">Jumble sale</span> Sale to raise funds for a good cause

A jumble sale (UK), bring and buy sale or rummage sale is an event at which second hand goods are sold, usually by an institution such as a local Boys' Brigade Company, Scout group, Girlguiding group or church, as a fundraising or charitable effort. A rummage sale by a church is also sometimes called a church sale or white elephant sale.

Consignment is a process whereby a person gives permission to another party to take care of their property and retains full ownership of the property until the item is sold to the final buyer. It is generally done during auctions, shipping, goods transfer, or putting something up for sale in a consignment store. The owner of the goods pays the third-party a portion of the sale for facilitating the sale. Consignors maintain the rights to their property until the item is sold or abandoned. Many consignment shops and online consignment platforms have a set time limit at which an item's availability for sale expires. Within the time of contract, reductions of the price are common to promote the sale of the item, but vary by the type of item sold.

A music store or musical instrument store is a retail business that sells musical instruments and related equipment and accessories. Some music stores sell additional services, such as music lessons, music instrument or equipment rental, or repair services.

<span class="mw-page-title-main">Closeout (sale)</span> Discount sale of inventory

A closeout or clearance sale is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire, over-ordering, or especially because of bankruptcy. In the latter case, it is usually known as a going-out-of-business sale or liquidation sale, and is part of the process of liquidation. A hail sale is a closeout at a car dealership after hail damage.

<span class="mw-page-title-main">History of pawnbroking</span>

Pawnbroking, lending money on portable security, began in ancient history. The practice was widespread in many parts of the world, from ancient Greece to medieval China and medieval Europe.

<span class="mw-page-title-main">Antique shop</span> Retail store specializing in the selling of antiques

An antique shop is a retail store specializing in the selling of antiques. Antiques shops generally have a physical presence in a shop where the wares are stored and displayed, but some antique shops are online, with no physical retail location.

<span class="mw-page-title-main">Junk shop</span> Shop selling cheap second-hand goods

A junk shop is a retail outlet similar to a thrift store which sells mostly used goods at cheap prices. A low-quality antique shop may border on being a junk shop. Shoppers who frequent junk shops are often referred to as "junkers", "pickers", "bargain hunters", "rummagers", etc.

<span class="mw-page-title-main">White elephant sale</span> Fundraiser featuring sale of extravagant items

A white elephant sale is a collection of used items being sold, much akin to a yard sale or garage sale, often as a fund-raiser for a cause.

A marketing channel consists of the people, organizations, and activities necessary to transfer the ownership of goods from the point of production to the point of consumption. It is the way products get to the end-user, the consumer; and is also known as a distribution channel. A marketing channel is a useful tool for management, and is crucial to creating an effective and well-planned marketing strategy.

<span class="mw-page-title-main">Black Country Living Museum Pawnbrokers Shop</span>

The Black Country Living Museum Pawnbrokers Shop is a recreation of a pawnbroker's at the Black Country Living Museum. It is one of a pair of cottages built in the 1840s, from School Lane in Himley.

<span class="mw-page-title-main">Pawnbrokers in Hong Kong</span>

In 2014, there were 200 pawnbrokers in Hong Kong, with the number increasing over the next several years. Pawn shops are some of the oldest businesses in Hong Kong. The pawn shops themselves have several prominent features, including a screen to block the view of passersby, as well as a high counter. Additionally, these shops are governed by strict regulations, such as having to keep records of all transactions and being obliged to report any suspicious items to the authorities.

<i>Doujin</i> shop Store specializing in self-published works

A doujin shop is a store that specializes in doujinshi, self-published works. They exist mainly in Japan. Doujin shops can be both brick and mortar as well as online stores. Some sell only second-hand doujinshi, but particularly larger chain stores also sell new doujinshi. Many doujin shops also handle other kinds of doujin works, such as doujin music or doujin games, or commercially published popular media such as manga and anime.

The retail format influences the consumer's store choice and addresses the consumer's expectations. At its most basic level, a retail format is a simple marketplace, that is; a location where goods and services are exchanged. In some parts of the world, the retail sector is still dominated by small family-run stores, but large retail chains are increasingly dominating the sector, because they can exert considerable buying power and pass on the savings in the form of lower prices. Many of these large retail chains also produce their own private labels which compete alongside manufacturer brands. Considerable consolidation of retail stores has changed the retail landscape, transferring power away from wholesalers and into the hands of the large retail chains.

References

  1. "CONSIGNMENT Definition & Legal Meaning". Black's Law Dictionary (2nd ed.). Retrieved March 10, 2023.
  2. "Consignor vs. Consignee". Archived from the original on 8 January 2023. Retrieved 8 January 2023.
  3. Valentini and Zavanella (2003). "The consignment stock of inventories: industrial case and performance analysis" (PDF). International Journal of Production Economics. Retrieved 17 August 2018.
  4. Battini; et al. (2010). "Consignment Stock Inventory Policy: Methodological Framework and Model". International Journal of Production Research. Retrieved 17 August 2018.
  5. "What it is to be a junker". etsy.com. Retrieved 26 July 2013.
  6. "pop" . Oxford English Dictionary (Online ed.). Oxford University Press.(Subscription or participating institution membership required.)
  7. Agency, Skills Funding. "Antique dealer job information | National Careers Service". nationalcareersservice.direct.gov.uk. Retrieved 2015-10-15.
  8. "antykwariat, Encyklopedia PWN: źródło wiarygodnej i rzetelnej wiedzy". encyklopedia.pwn.pl (in Polish). Internetowa encyklopedia PWN.
  9. Chiarpei, Clara (7 December 2015). "The Best Second-Hand Bookshops in London". Culture Trip. Archived from the original on 20 February 2020. Retrieved 20 February 2020.
  10. Milliot, Jim (June 1, 2017). "Amazon Will Be the Fifth Largest Bookstore Chain". Publishers Weekly . Archived from the original on February 27, 2020. Retrieved February 26, 2020.