Consigned to change

A former owner of the specialty store Joel Inc. is embarking on a new venture that marries bargain-hunting with high-end furnishings.

“I’m a frugal person by nature, but I do like quality,” said Joel Ferris Jr., who is opening Upscale Home Furnishings at 2510 N. Monroe.

The store will carry antiques and consigned, discontinued and discounted pieces by furniture makers that include Drexel Heritage, Thomasville and Ethan Allen.

Ferris and his wife, Sara, a first-grade teacher at Garfield Elementary School, bought the building for $400,000. Ferris plans to open the store in early February, although exterior renovation will continue several more months.

The 6,500-square-foot store will sell lamps and other accessories. Ferris also plans to add outdoor furniture by O.W. Lee Co.

Ferris said the concept is outgrowth of Joel Inc., which sold fine giftware and furniture in Spokane for 55 years. The store at 165 S. Post closed last summer.

As Ferris was closing out merchandise at Joel Inc. he noticed the sales were attracting new and returning customers. So, he started acquiring pieces from private sellers and companies and hosted weekend sales at the old Joel building, which Ferris’ family recently sold for an undisclosed price.

The customer response inspired him to take things a step further and open a store.

People who consign furniture, artwork and accessories through Upscale Home Furnishings will get 50 percent to 60 percent of the sale proceeds. There is also a small fee for pickup, if needed.

Items that don’t sell within a given timeframe are marked down, opening a window for shoppers to make an offer — which is part of the fun, Ferris said.

He thinks the timing is right for his business because baby boomers are downsizing their households while a younger generation is furnishing first homes.