Consignment Policy

Gear will be priced one of the two following ways:

  • Directly from the consignor

  • Consignor choses to defer pricing of the item to Second Summit who will price the item accordingly

Gear commissions are structured as follows:

  • Items under $100

    • 50% of sale to Consignor — 50% of sale to Second Summit

  • Items between $100-$500

    • 60% of sale to Consignor — 40% of sale to Second Summit

  • Items Over $500

    • 70% of sale to Consignor — 30% of sale to Second Summit

The cost of each item will drop over time following the below structure:

  • After 2 Months — Price drops by 20%

  • After 4 Months — Price drops an addition 20% of original price

  • After 6 Months — Item will be moved into the “name your price” section

  • After 7 months — The consignor will be notified to either pick up their item or have it donated to charity

Rental Policy

As you browse Second Summit you may notice some RED DOTS on some of the tags. RED MEANS RENT! Anything in the store with a red dot on the tag is rent eligible for the following prices:

  • Same Day Rental – 10% of list price

  • 48HR Rental – 20% of list price

  • 1 Week Rental – 40% of list price

If the consigned item is eligible for rent, the consignee may choose to put their item up for rent or direct sale. The incentive for sellers to put their gear up for rent goes as follows:

  • Sellers will receive 50% of all rental revenue.

  • Sellers profit from their item caps once they reach the full original list price. Once this price is met, the item becomes the property of Second Summit.

If an item is damaged due to a renter, resulting in devaluation, the renter is responsible for paying the difference in price value up to the full price of the product.

  • In this scenario, the damage repayment will follow the same price structure as if the item were sold. The seller will receive the same percentage of earnings from the damages as they would if the item was sold.

What Else Does Second Summit Offer?

In addition to all the consigned gear, Second Summit will proudly host some of the most innovative and newest names in local gear. Second Summit can be a one stop shop for anyone exploring both timeless classics and new brands looking to break into the scene! Every month budding local brands will be stocked and showcased at Second Summit. These are brands that won’t be found at your large retailers. Second Summit is a small local business, doing business by helping out small local business.

FAQs?

  • Example Scenarios for rental revenue

    • $100 item rented out once for 48HRs ($20) and then sold:

      • Seller receives $10 from the rental and $50 from the sale, totaling $60

      • Second Summit receives $10 from the rental and $50 from the sale, totaling $60

    • $100 item rented out 7 times for 48HRs ($20 each) and then sold:

      • Seller receives $70 from the rentals and $30 from the sale, totaling the original price of $100

      • Second Summit receives $70 from the rentals and $70 from the sale, totaling $140

    • $100 item rented out 11 times for 48HRs ($20 each) and then sold:

      • Seller receives $100 from the first 10 rentals and is fully compensated

      • Second Summit will receive $100 from the first 10 rentals, $20 from the 11th rental, and $100 from the sale, totaling $220

  • Once an item is listed, the price follows the set drop structure. You can only adjust the price before it’s consigned or when reclaiming the item after 7 months.

  • If an item is rented, the price stays at the current discount, but the timing resets from the last price drop. For example, if an item is discounted by 20% after 2 months and is then rented, it will remain at that 20% discount, but the discount clock will restart as if it's the first day at the 20% price.

  • Yes, you can request to remove your item from the rental program at any time, but the item will continue to follow the pricing drop timeline.