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Soaka06, Home Buyer in Hicksville, NY

what does buying on consignment mean?

Asked by Soaka06, Hicksville, NY Fri Jul 13, 2012

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Trading arrangement in which a seller sends good to a buyer or reseller who pays the seller only as and when the goods are sold. The seller is the owner of the goods until they are paid in full and, after a certain period, takes back the unsold goods.
0 votes Thank Flag Link Thu Jul 24, 2014
Consignment stores are where you take something you want to sell. The owner of the store will sell it for you, but keep a percentage of the sale. If your item doesn't sell, it is given back to you.
Amelia Gillian | http://lincolnparkemporium.com
0 votes Thank Flag Link Thu Jul 24, 2014
Consignment is the act of consigning, which is placing any material in the hand of another, but retaining ownership until the goods are sold.

A land contract would be an example I guess.
0 votes Thank Flag Link Sat Jul 14, 2012
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