Consignment for Dummies
noun
pronunciation: kən'saɪnməntWhat does Consignment really mean?
Hey there! Let me tell you all about the word "consignment." Now, have you ever wondered what happens when you give some of your things to a friend to sell for you? Or maybe you've seen a shop where they sell things that belong to other people? Well, that's exactly what consignment is all about!
Consignment is a special arrangement where a person, called a consignor, gives their items to someone else, known as a consignee, to sell on their behalf. This is usually done in stores that specialize in selling second-hand or vintage items. So, you give your things to the store owner, and they display them in their shop.
Now, here comes the interesting part! When your item sells, the store takes a commission, which is a percentage of the selling price. The remaining money is then given back to you as the consignor. So, the store owner helps you sell your things, and you both share the profit!
But wait, there's more than one way the word "consignment" can be used. It can also refer to the actual items that are given to the store. So, when we say "a consignment," it means a group of things that have been entrusted to the store for selling.
Imagine you're sending a gift to your friend, but instead of mailing it directly to them, you send it to a delivery service first. This delivery service then takes care of bringing your gift to your friend's doorstep. In this situation, your gift is like a consignment, and the delivery service is like the consignee. They're responsible for getting your gift to the right place, just like the shop owner is responsible for selling the given items.
So, "consignment" can mean both the action of giving someone your items to sell on your behalf, as well as the items themselves that you've entrusted to someone else. It's a bit like teamwork, where you and the consignee work together to sell your things and make some money. Pretty cool, right?
Alright, now that you know all about consignment, I hope it's clear as day for you! If you have any more questions, feel free to ask. Learning is all about curiosity!
Revised and Fact checked by Alex Johnson on 2023-10-28 07:10:24
Consignment In a sentece
Learn how to use Consignment inside a sentece
- When you give your old clothes to a store to sell for you, it's called consignment. The store will then give you some money when your clothes get sold.
- If you have an extra bike that you don't need, you can give it to a shop and ask them to sell it for you. When the bike gets sold, the shop will pay you some money. This is called consignment.
- Imagine you have a collection of toys that you don't play with anymore. You can bring them to a toy store and ask them if they can sell the toys for you. If the toys get sold, the store will give you some money. This process of selling things on behalf of someone else is called consignment.
- If you have a lot of books that you no longer read, instead of throwing them away, you can take them to a bookstore. The bookstore will display the books and sell them for you. When the books get sold, the bookstore will share some of the money with you. This is what we call consignment.
- Let's say you have a special handmade necklace that you want to sell. You can take it to a jewelry shop and ask them to sell it for you. When someone buys the necklace, the shop will give you some money. This way of selling things for others is called consignment.
Consignment Synonyms
Words that can be interchanged for the original word in the same context.
Consignment Hypernyms
Words that are more generic than the original word.