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MyGemma Now Offers Consignment Service
The secondhand reseller stocks pre-owned designer jewelry and watches, along with other luxury goods.
The myGemma showroom in New York City. The luxury resale company now offers a consignment service.
New York—Luxury resale company myGemma is now offering consignment.
Previously, the company only offered a direct selling option, letting customers sell their pre-owned designer jewelry, watches, and bags on its website.
The new consignment option lists customers’ items on myGemma.com, as well as more than 25 other marketplaces, including Farfetch and 1stDibs.
MyGemma handles the logistics of the sale, including providing a free, fully insured overnight shipping label to send items in for evaluation, authentication, and listing.
The in-house team handles professional photography of the item and any needed repair, service, or polishing. Any costs related to this are communicated in advance and taken from the final sale price, said myGemma.
With consignment, myGemma said customers may get more money for their items, promising "honest price quotes and no fees" as well as quick listings and speedy sales, with payments made 30 days after the sale.
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Previously, the company only offered a direct selling option, letting customers sell their pre-owned designer jewelry, watches, and bags on its website.
The new consignment option lists customers’ items on myGemma.com, as well as more than 25 other marketplaces, including Farfetch and 1stDibs.
MyGemma handles the logistics of the sale, including providing a free, fully insured overnight shipping label to send items in for evaluation, authentication, and listing.
The in-house team handles professional photography of the item and any needed repair, service, or polishing. Any costs related to this are communicated in advance and taken from the final sale price, said myGemma.
With consignment, myGemma said customers may get more money for their items, promising "honest price quotes and no fees" as well as quick listings and speedy sales, with payments made 30 days after the sale.
The company also touted its low return rates, said to be in the single digits.
"We are firmly committed to raising the bar of luxury resale and excited to expand our luxury selling services. Our consignment offering, alongside our direct selling option, is designed to help our customers sell their designer goods in whichever way is most practical and beneficial to them," said myGemma CEO Andrew Brown.
"Our goal is always to make both buying and selling luxury items fast, easy, and reliable."
Secondhand luxury is increasingly becoming a “gateway” to luxury for aspirational consumers who cannot afford new items, according to a recent luxury report by Bain & Co., with growth in sales of pre-owned jewelry particularly strong and sales of secondhand clothing accelerating.
Those interested in consignment have to fill out an online selling form, providing information about the item and its condition, including when it was purchased and if the original box and accompanying paperwork are available.
WP Diamonds, the parent company of myGemma, launched the e-commerce platform in 2018. The company merged with the myGemma banner in 2023 due to the growing brand awareness for the myGemma brand, the company said.
It opened a New York City showroom last May in Midtown, offering an appointment-only experience, with plans to potentially open a downtown store this year.
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