What is direct buyout?
In direct buyout, Luxybit offers to directly purchase your item and issues payment to you one business day after you have sent your item to Luxybit, and it has been authenticated and accepted. If we offer to buy your item, we will typically offer a direct buyout price between 50% and 70% of the item's expected resale value. All items sold to Luxybit as a direct buyout are final once payment has been issued.
What is consignment?
Consignment refers to an agreement where your item is placed in the care of Luxybit until the item is bought by a buyer. The the consignor — the owner of the goods (you) —retains ownership of the items until they sell. When the item sells, the consignee (Luxybit) pays the owner (you) an agreed-upon portion of the proceeds from the sale.
We charge a 30% commission compared to the typical 50% you find in most consignment stores. Additional fees including credit card transaction fees and marketing fees are covered by us. In addition, Luxybit may at its discretion lightly clean and restore items prior to sale.
Luxybit offers consignment for your item and issues payment within 1 business day of selling your item. Our base fee is 30% of the selling price (you keep 70%). Please view our Consignment Agreement.