What does consignment mean?

When you consign tools with ToolXChange, you will maintain the ownership of your tools, but agree to leave them at the ToolXChange service for 3 months and give ToolXChange service the rights to sell your tools on your behalf.

Why do I consign when I can sell myself?

Consignment is safe and easy. If you consign with ToolXChange service, we do all the work and you get more money!  We advertise your tools and display them in our store.

You do not have to spend time listing your tools online, tracking your listings, answering phone calls, negotiating “Sell Price”, and most importantly, having strangers come to your home.

As a physical service, we can always get top dollar for your tools.

How much commission do you charge?

When you consign your tools at ToolXChange, you will agree to receive:

  • 50% from the sale of your tool sold at a price up to $150 value;
  • 60% from the sale of your tool sold at a price from $150 up to $450;
  • 70% from the sale of your tool sold at a price over $450.

You will receive additional 10% of the selling price if you agree to a settlement payment on a store credit.

Do you buy tools?

No, we run our busienss on a strictly consignment bases. You retain the ownership of your tools during the consignment period. Consignment is a mutually beneficial, efficient and ethical arrangement. 'Buy Outright' stores buy items for as little as they can, then sell them for as much as they can. Consigning would usually yield two or more times what you would simply receive if you had your items purchased outright. The strict and transparent “consignment only” policy of ToolXChange also ensures that no tool of questionable origin will end up in our inventory.

How do you set the price for consigned tools?

When you consign with us, we are in business together!  We welcome any original purchase information on the tool as well as your expectations for the price. We will price your tools as high as possible, yet still make them marketable.  We set the selling price together based on supply and demand and what the market is willing to pay.

What happens if my tool doesn’t sell?

If your tool(s) doesn’t sell after 90 days, you may…

  • Leave the unsold tools in the ToolXChange inventory for another 90 days and give ToolXChange the right to sell your tools at agreed-upon discount price
  • Pick-up your unsold tools
  • Authorize ToolXChange to donate your unsold tools to a charity
  • Donate your unsold tools to ToolXChange