BUSINESS
10/16/2014 04:26 pm ET Updated Jan 09, 2015
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Luxury Garage Sale Redefines Consignment

Luxury Garage Sale is a thriving business in Chicago that's changing the way people think about consignment shopping. Focused on creating a curated, high-end experience, shop owners Lindsay Segal and Brielle Buchberg opened up about how their business isn't just a store, it's a brand.

"There’s a large hole in the market," Segal explained. "Brielle and I saw that first hand about four years ago when both of us were trying to consign luxury goods, and we never found a service that we felt was high-end enough."

The childhood friends used their love of fashion to build a business around catering to a specific clientele with white-glove service from start to finish. First, they launched with a pop-up event to test interest.

“All the media wrote about it, [and] they were very receptive," Buchberg said. "We had a line out the door to get in and from there we knew we had something.”

Luxury Garage Sale has a brick-and-mortar location, as well as an online store. Vintage clothing and accessories attract a unique customer, while handbags, which resell closest to retail price, are the biggest draw. Sellers can expect a high level of service, and shoppers can receive an average of 50 percent off of retail prices on brands like Chanel, Hermes and Louis Vuitton.

Today, Luxury Garage Sale is making upwards of $4 million in revenue per year. The secret to its success? Intuition. “We followed our gut all the way through, and I think that's really important," Buchberg insists. "If you feel strongly about a decision, follow your gut and go for it.”

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