Yes, but only down to a floor. This covers pieces you consign through Ragpiq.
How the floor is set
The floor comes from the price you accepted. The more a piece is worth, the less a store can take off.
| Price you accepted | Most a store can take off | Example |
|---|---|---|
| Under $500 | Half | $300 dress, floor $150 |
| $500 to $2,000 | 30% | $1,000 coat, floor $700 |
| Over $2,000 | 20% | $3,000 bag, floor $2,400 |
You can see the floor for each piece on your offer, before you accept, and on the piece in your wardrobe afterwards.
If a store wants to go lower
The store asks you in the app. You see the new price and the least you'd get. Choose Lower it or Keep the price. If you don't answer in 7 days, the price stays where it is.
If you choose Lower it, that price becomes the new floor, and your minimum payout moves down with it.
If it sells under the floor without your OK
You still get your minimum payout, which is your share of the floor. The store covers the difference.
Asking for a higher floor
Open the piece in your wardrobe and choose Ask for a floor. Pick No discounts, or No lower than and type your number. The store can say yes or no. You can also ask from your offer, on the slide that shows the floor, before your bag reaches us. Ragpiq answers that one.
If the store says yes, the price can't go under your number, or under the price it is now if you asked for no discounts, and your minimum payout goes up with it. You can switch discounts back on at any time from the same piece with Allow discounts again, and the store is told.
If the store says no, the floor stays as it was, and you can end the consignment. Collecting the piece is free. Posting it back costs the postage and return fee shown.
Hearing about price changes
We send you a summary of price changes once a week.
If you took instant cash
Once you've been paid, the piece belongs to Ragpiq, and the price is no longer yours to set.