consignment

Consignment is a business arrangement where a seller (the consignor) provides goods to another party (the consignee) to sell on their behalf. The consignee displays and sells the items, but ownership remains with the consignor until the items are sold. Once sold, the consignee takes a pre-agreed commission or fee, and the remaining proceeds are given to the consignor. This setup allows the seller to reach more customers without full ownership transfer upfront, reducing risk and inventory costs while providing a sales platform.