Monday Markdowns: How They Work

Every piece that comes into Furnish Green settles into our workroom first. The entire staff huddles around it, deliberates about it’s quality and condition, and decides whether or not it needs additional work and attention. Then we collectively try to figure out a price. It usually goes something like this:

“$392”
“I was thinking low 4’s”
“We had one like that not too long ago in the low 4’s. It was here for a while”
“How about $384?”
“Wow, I was thinking that too.”
“Did you know I was born in 84?”
“I graduated high school in 84!”
“$384 it is.”

Now that was an example of a time when we got the price right. Here is an example of when we got the price wrong:

“Oh my god, I love that piece!”
“It’s supersexy, they are very hard to find.”
“I just checked it out on the 1st Dibs website, someone is asking $3500 for it.”
“$968 seems reasonable.”
“We may not get another one, we should probably ask $1184.”
“I was born in 84!”
“Wow I graduated high school in 84!”
“It is nice, maybe $1232?”
“Ok.”
“Sounds good.”

Now even though the final price sounded reasonable to us, especially compared to what other retailers were asking for it, that piece still sat in our showroom for longer than we would have liked. Here is the next conversation:

“There has to be a reason why this piece is still here.”
“Wow look at the price on that, $1232! No wonder why it’s still here!”
“Were we on crack when we priced it?”
“Let’s mark this down to $844 during our Monday Markdowns this week.”
“Good idea.”

So always keep an eye out for our Monday Markdowns because we are constantly revisiting our prices to see if a piece was originally made too expensive. On average, we lower 5-7 pieces every Monday, and they are not necessarily items that have been in our showroom for a long time. Our mission is to get cool vintage furniture into as many home as possible as quickly as possible, so check our site often (the Sale section in particular) to see if that credenza you had your eye on has a lower price! – Nathan