Cash Flow And your Your Wardrobe

Fashion has been an on going vice for me over the years. I love the richness of fine fabrics, and the shrill of high intensity prints. Financially, I am garment rich and cash poor. Fashion, might be one of those vices that you can just never seem to get enough of. Yes, I love my wardrobe, but there never seems to be a shortage of great fashion finds that I convince myself to need.

I was told once by the glamorous Sophie Trudeau that their is no point hoarding fashion. Clothes are meant to be worn. If an item sits in your closet, taking up valuable closet space for more than 8months without being worn, It is time to sell or donate the item.

When I drop major dollars on a garment, it can be hard to part with monetary loss. However most fashion related expenses are sunk costs. The money has been spent and the resale value has greatly diminished. No one buys full retail prices with the expectation of turning a profit. Straight up clothing donations to a good will or what have you are generous; and can give you a tax credit. However for high value clothing pieces there are a few great online vintage re-sellers that help you sell, market, and recover some of the expense you paid for the item while earning you more cash to make future fashion purchases.

Market Publique: Shop.marketpublique.com, sell high quality vintage clothing. Aspiring sellers take photos of the clothing and provide a detailed description of the clothing they wish to sell. Market Publique will do the rest for a $0.25 listing fee, and 5% commission.

Closet Rich: Closetrich.com, is an LA based company founded by Elizabeth Knott ( Rachel Zoe's protégée). If Closet Rich provides customer consultations, and if they like what you are selling they will manage the promotion and shipping of your goods for a 50% commission fee.

Yoogi's Closet: Yoogiscloset.com, buys an consigns purses, jewelry, and shoes. The company will evaluate the photos you send them of your goods and get back to you with in two business days. Yoogi's closet will then give you an option of an immediate buy, or consignment option. If you consign your clothes you are more likely to earn a larger return.

Plato's Closet: Platoscloset.com looks for contemporary teen and young adult fashion. Plato's locations can be found across the US, and Canada. The store will give you cash on the spot, for gently used clothing. The return is small, but $20 bucks is better than nothing.