Definition of Consignment sale:
Trading arrangement in which a seller sends goods to a buyer or reseller who pays the seller only as and when the goods are sold. The seller remains the owner (title holder) of the goods until they are paid for in full and, after a certain period, takes back the unsold goods. Also called sale or return, or goods on consignment. See also guaranteed sale.
Meaning of Consignment sale & Consignment sale Definition