Consignment/Wholesale

[djnurseallison.livejournal.com]

I make polymer clay jewelry, and I've come into a really great wholesale opportunity. While I'd love the exposure, the problem is that I've never done this before. I don't know a thing about wholesale/consignment. Googling hasn't helped much. Do I sell the shop my items for half the retail price, and then I get a cut of the final price when an item sells too? Or am I completely off... Can you wise ones fill me in on the wholesale basics? In other words, what are the things I need to know so I don't waste my time (and actually make a little $$ too, heh)?

Many thanks in advance!

Here's a picture of my work, so this isn't text only.