Selling of one's personal property through a third-party vendor
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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.
^"CONSIGNMENT Definition & Legal Meaning". Black's Law Dictionary (2nd ed.). Retrieved March 10, 2023.
^"Consignor vs. Consignee". Archived from the original on 8 January 2023. Retrieved 8 January 2023.
^Valentini and Zavanella (2003). "The consignment stock of inventories: industrial case and performance analysis" (PDF). International Journal of Production Economics. Retrieved 17 August 2018.
^Battini; et al. (2010). "Consignment Stock Inventory Policy: Methodological Framework and Model". International Journal of Production Research. Retrieved 17 August 2018.
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...
A consignment agreement is an agreement between a consignee and consignor for the storage, transfer, sale or resale and use of the commodity. The consignee...
Consignment store may mean: Consignment store (East Asia) - collection of stalls rented by individual merchants Consignment store in North America, where...
Escuela Nacional de Bellas Artes), also known as the Old Deposit and Consignment Fund (Spanish: Antigua Caja de Depósitos y Consignaciones), is a building...
An air waybill (AWB) or air consignment note is a receipt issued by an international airline for goods and an evidence of the contract of carriage. It...
in-home pickup, drop-off and direct shipping. As a full-service, luxury consignment service, The RealReal does all of the work for its consignors, including...
information is required, as described in ADR. This consignment is completed by the sender. The consignment should only be completed with a ballpoint pen,...
shipment of a consignment of cargo. Typically it will show the names of the consignor and consignee, the point of origin of the consignment, its destination...
Individual Asset Identifier (GIAI) Global Identification Number for Consignment (GINC) Global Location Number (GLN) Global Product Classification (GPC)...
carriage/Charterparty Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime...
buyer will refuse to receive the consignment, hence the entire consignment will be confiscated.The confiscated consignment will then be auctioned to which...
a subsidiary of Base resources of Australia, shipped its first major consignment of minerals to China. About 25,000 tonnes of ilmenite was flagged off...
American company that sold used vehicles online and also maintained a consignment-based online marketplace for buying and selling used cars. Founded in...
CEO of The RealReal, an online marketplace for authenticated luxury consignment. Early in her career Wainwright began working for The Clorox Company...
carriage/Charterparty Affreightment Agency Barratry Bill of lading Brokerage Chartering Consignment Demurrage Force majeure Invoice Commercial Pro forma Laytime Lien Maritime...
Mumbai blasts. It was claimed that the weapons formed a part of a large consignment of arms connected to the terrorists. Dutt, however, in his confession...
The MicroConsignment Model (MCM) establishes profitable income generating opportunities (and the infrastructure and network for a national, local social...
his uncle, Turkish gangster Bekir Humadi, has slain the others after a consignment went missing and fears for his own life. Brooke arrests Humadi for the...
Case". WWD. Retrieved 2023-06-16. "TripIt Founders Launch Chairish, A Consignment Marketplace To Sell Pre-Owned Home Furniture", TechCrunch, February 27...
Parcels (band), an Australian modern soul band Parcel (consignment), an individual consignment of cargo for shipment Parcel (film), 2019 Bengali film...
available credit, allowing for repeated use over multiple time periods. Consignment credit involves one party (the consignee) selling goods provided by another...
all in the same night. After returning to Cairo, Stirling collected a consignment of more Jeeps for further airfield raids. His biggest success was on...
the drugs and leave. However, Daler soon learns that only 10% of the consignment was actual cocaine, and the rest was salt. Aware of the realization that...
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