What does “Consignment” mean?

Consignment means a dealer sells a watch on behalf of its owner, who keeps ownership until it sells. The dealer markets the watch, handles enquiries and completes the sale, and the owner receives the agreed amount, either a fixed net price or the sale price minus a commission.

For owners, consignment usually brings in more money than selling outright to a dealer, because the dealer isn't putting up their own cash or carrying the risk of holding stock. The trade-off is time: the owner waits until a buyer appears. For dealers, consignment builds inventory without tying up money. A clear written agreement matters: the agreed price or commission, how long the dealer holds the watch, who pays for insurance and any servicing, what happens if it is damaged or stolen, and how quickly the owner is paid after the sale.

Example: 'On consignment from a client, net to the owner is fixed, so there is little room to negotiate.'