Years ago, when Marcy Katz used to travel as a buyer for a major retail store, she used to imagine what it would be like to own her own business. Surely her superior negotiation skills as a buyer, combined with her keen eye for decorative accessories, topped by an innate ability to match antique and modern furniture in a stylish way, would be appreciated by many customers. But Ms. Katz went a step farther with her business idea and opened an alternative retail store in 2009.
Most of the furniture and accessories in her airy 5000 square foot showroom are on consignment from some of Montreal’s finest homes. Ms. Katz keeps the origins of each piece highly confidential and she noted that some of her best customers are also suppliers. In her words, “people’s tastes change or sometimes they bring items that they can’t return to the store.” Ms. Katz also stocks almost new items such as end-of-line items, overstock and samples from supplier showrooms. All items are sold according to the 3:10 pricing plan.
How does the 3:10 pricing plan work?
An item will be marked at a certain price to start. If after 3 weeks it hasn’t sold, the price will drop 10%. This process is repeated every 3 weeks until the item is sold or reaches its bottom price, at which time it is removed from the showroom. This policy is to make room for a weekly infusion of new merchandise on the showroom floor. This spaciousness is needed to give customers the ability to visualize how the pieces will look in their home. Says Ms. Katz, “customers generally don’t wait until the price goes down, because they already know that they are getting excellent value and the item might be gone when they come back!”
What’s in store for the future?
Ms. Katz is experiencing a greater interest in respect for the environment with customers who repurpose old furniture. For example, people will take an item such as the French Grange Directoire sideboard pictured below, and use it as a dresser drawer in the bedroom or even as a stand for their flatscreen TV. Not only is it eco-friendly, it can add a vintage touch to a modern décor.
Here below are some favourite pieces available in the showroom right now, but not for long!
What is available for the holidays?
Come to GalerieM to discover a variety of gift ideas such as candlesticks, mirrors, lamps, and other decorative pieces. For their address and more details, visit GalerieM’s directory listing.