Consignment
What is Consignment?
Consignment is an arrangement where goods are left in the possession of an authorized third party to sell. The consignor retains ownership of the goods until they are sold, and the consignee (the seller) receives a commission or fee for each sale. This is commonly used in retail settings, such as clothing stores, antique shops, and art galleries, where the owner of the goods (the consignor) wants to leverage the seller's (consignee's) customer base without directly selling the items themselves.
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