It's a great concept for recycling quality fashion apparel as buyers save money while sellers save closet space and make money.
Some great features about Rags Exchange are that listings are totally FREE, and one can post unlimited listings. They charge a very modest 5% selling fee only when your item sells. Besides this they have a "Name Your Price" feature where buyers can negotiate with sellers and items can be marked down for clearance too. Another notable feature I found great is that buyers can search by their individual style (e.g. bohemian, classic, designer, etc)
They are based in Washington D.C. and feature bloggers from all over the world . They have a really cool promotion going - where women can get the chance to win $1000 by signing up for a RagsExchange.com account so check it out now!