ConsignmentAppraisals

Consign with SUSANIN’S

STEP ONE: 

Submit questions on Consigning to info@susanins.com

GET AN ESTIMATE

Feel free to email images and any details of items you are considering for consignment to us at info@susanins.com.

If you prefer to submit this information by mail, you may send it to the address below:

SUSANIN’S Appraisals
900 South Clinton
Chicago IL, 60607

If you would like your photos returned, include a self-addressed envelope.

Keep in mind that auction values are not retail value but that a competitive auction environment warrants appreciable resale prices for your items.

STEP TWO:

CONSIGN YOUR ITEMS

When consigning items with SUSANIN’S, you will meet with a member of staff who works with you to customize a one-page Consignor Agreement. Upon finalizing and signing the Consignor Agreement, SUSANIN’S will work with you to facilitate the drop off or pick up of your items to our space. For large consignments, SUSANIN’S can arrange to have your items picked up and delivered to our South Loop space, deducting the cost from the future proceeds of your sales. You will receive a complete inventory of your items and be able to follow photos and descriptions of your property through every stage of the auction process on the “My Consignments” page of the website. You will have a point of contact to reach out to throughout the whole process should any questions arise.

STEP THREE:

LOOK FOR THE CHECK!

Upon the sale of an item, the consignor receives the “hammer price” minus the commissions indicated in your signed Consignor Agreement. The withdrawal the fee is based on the median auction estimate. Checks for the proceeds of each auction are issued to the consignor after 35 days, in accordance with the Consignor Agreement.

Information for Prospective Consignors

Consignor Commission Fees

Consignor commissions vary depending on the piece or collection, and are agreed upon prior to including your piece(s) in an auction.

Insurance

Susanin’s will insure consigned property while it is in our care. The insured dollar value is the median of our auction estimate (e.g. if the estimate is $400 – $600, the insured value is $500). Unless other arrangements have been made in writing, a charge of 1% of the hammer price for property sold will be deducted from the proceeds of sale.

Packing & Shipping

Susanin’s can assist in making arrangements for packing and shipping from your house to our gallery. Additional information is located here.

Catalogue Photography

All property cataloging and photography is free of charge.

Payment of Sale Proceeds

Payment of net sale proceeds will be made 35 days after the sale, provided Susanin’s has received payment from the buyer.

Appraisals

Susanin’s is available to provide free verbal appraisals and consultations upon the consignment of your property to auction. Time and travel limitations prohibit us from making visits to all potential consignor’s residences. Photographs are always encouraged and welcome. Images can be sent through the mail or via email to info@susanins.com. Appraisals requested for estate tax, insurance, or other purposes where property is not consigned to us for auction will be billed on an hourly basis. Susanin’s offers complete ISA compliant appraisal services. To request appraisal services, call 312-832-9800 or email carrie@susanins.com.

Appraisals

Our Appraisal Department prepares numerous appraisals for estate tax and insurance purposes. The appraisers at SUSANIN’S have served the needs of banks, attorneys, estate managers, private individuals, collectors, museums, government agencies and universities for the past 20 years. Our appraisers are experienced in evaluating a variety of objects. Whatever the purpose, the appraisers at SUSANIN’S are well-equipped to give an accurate, properly-documented appraisal.

The reported analysis, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased professional analysis, opinions, and conclusions.

We have no present or prospective interest in the property that is the subject of this report, and no personal interest with respect to the parties involved. In addition, I have had no involvement in the transaction or appraisal of the property within the past three years and do not currently have interest in or have prospective interest in the property or parties involved.

We have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.

Our compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. Our fee is $200.00 per hour.

Our analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice.

Interested in consigning property to an auction? SUSANIN’S offers complimentary evaluations of your item(s) based on photographs. Simply submit any information you may have on the piece(s) including the condition, provenance, measurements, etc. in the Comments section above. Attach up to eight (8) images below. Please submit images in JPG format. Each image should be no more than 500kb. If necessary, additional images may be sent after the completion of this form to info@susanins.com. Be sure to mention that you submitted the online Appraisal Form.


SEAN E. SUSANIN, ISA

Academic Background

Bachelor of General Studies in Visual Communications; School of Fine Art, Journalism, Mass Communication, Education and Business Marketing, 1986, University of Iowa, Iowa City

International Society of Appraisers, member since 1994

Professional Background

President and Founder of SUSANIN’S Auctioneers and Appraisers, Chicago, 1994, auction sales in excess of $125,000,000.00

Co-Founder AuctionSmart LLC, proprietary auction software

Senior Appraiser “Antiques Roadshow Style” events for numerous charities

Charity Auctioneer; clients include Francis Xavier Warde, Chicago Symphony Orchestra, Boys and Girls Club, Children’s Memorial Hospital, Lincoln Park Zoo, Project Exploration, American Cancer Society, Alzheimer’s Association, Juvenile Diabetes Foundation, Adler Planetarium, American Heart Association, Chicago Food Depository, Infant Welfare Society, Palette and Chisel

Governing Board Member, Chicago Symphony Orchestra Member, 2004 – present

Selected Corporate and Institutional Clients

  • Sears Corporation
  • Florsheim Shoe Company
  • Bank One
  • US Bank
  • BDO Seidman
  • Borg Warner
  • Aetna Plywood
  • Everen Securities
  • GATX Company
  • Northern Trust
  • LaSalle Bank
  • Mesirow Financial
  • Deloite
  • Aronberg Goldgehn Davis & Garmisa Kirkland and Ellis
  • Holleb and Coff
  • Altheimer and Gray
  • Mayer, Brown and Platt
  • Near North Insurance
  • Northwestern Hospital
  • Mount Siani Hospital
  • St. Paul Travelers
  • JP Morgan Chase
  • Art Institute of Chicago
  • Des Moines Art Center
  • Indianapolis Museum of Art Milwaukee Art Center
  • Walker Art Center
  • University of Indiana

Consignor FAQs

How can I tell what my property is worth?

Susanin’s will give you an ‘auction estimate’ on all property that our experts determine is salable at auction. Estimates are expressed as a dollar range – e.g. $200 – $400. The estimate is our professional judgment as to the range that the item should sell for at our auction house. This is based on experience, knowledge of the market, and knowledge of the item’s historical trading value.

What if I think my property is worth more?

Susanin’s auction estimates are strictly based on what the item is expected to garner at auction.

What if I see a book value that is different than the estimate?

So-called ‘book values’ can mean many different things – retail value, auction value, wholesale value, etc. Knowing the valuation method employed by the book’s author(s) is critical in assessing the relative worth.

Can I guarantee the price I receive at auction?

You can never guarantee an auction result, but you can protect yourself by placing a ‘reserve’ on an item.

What is a ‘reserve’?

A reserve is your minimum acceptable selling price that can be set up to the low estimate given to an item. For example, an item estimated at $400 – $600 can have a reserve set at $400 or less. If the item doesn’t receive a bid of at least $400, the item will not be sold.

What if I don’t set a reserve?

Susanin’s established policy is to not accept bids below half of the low estimate unless agreed upon in advance. As in the $400 – $600 example we will start bidding at $200 if there is no reserve.

Once we agree on the estimates, what is the next step?

A Consignor Agreement must be signed and returned. Subsequently, arrangements for moving the property to Susanin’s must be made.

What if it doesn’t sell?

Whenever lots go unsold at auction, the consignor will be notified. Susanin’s handles post-sale arrangements several ways. Items unsold in one auction may be put into a future sale at a lower estimate than was set initially. In the example of an unsold lot with an estimate of $400-$600, if the item is re-offered, the estimate for the following auction would be $200-$300. Additionally, if the consignor is interested in having the piece returned to their possession, they may collect their piece at anytime during the week following the auction. Susanin’s can also donate unsold lots on behalf of a consignor and provide them with a matching tax credit.

How do we move the property to Susanin’s?

Susanin’s will help you make arrangements for moving the property, if desired. We work with a number moving companies in the area that specialize in handling a wide range of property.

When will my things be sold?

Auctions are held monthly at Susanin’s. Once a Consignor Agreement has been signed and the property is at Susanin’s, it typically takes at least three weeks for the property to be in auction.