Many of our residential clients who are moving, downsizing, or decluttering ask us about selling their unwanted goods by consignment. To help readers learn more about the process, I invited Tina Beer Hamlin of Coast Consignment to tell us all about the consignment process.
Tell us about Coast Consignment.
Coast Consignment was founded in 2004 by Richard Beer, and the company is owned by mother and daughter team Angela Beer and Tina Beer Hamlin.
We specialize in high-end home décor from fine antiques to mid-century modern, retro, vintage, transitional and ultra-contemporary. Our shop carries everything, including furniture, artwork, rugs, lighting, garden containers, patio furniture and jewelry.
The Beer Family came to Canada from London, England, in 1969. Richard (Dick) Beer started importing antiques and antique reproduction furniture for distribution across Canada. Both Dick and Angela had a passion for furniture, antiquities, artwork and design. This passion continued over the years and culminated in the creation of Consignment Canada. Since Dick sadly passed away in 2009, Angela and Tina have run the company, now called Coast Consignment.
What experience and training do you have?
As a Certified Personal Property Appraiser, I (Tina) appraise about 95% of incoming goods, and I also offer professional appraisals for insurance, dissolution, and estate/probate purposes. These very detailed reports are admissible in court.
In the consignment business, professional training is essential, but it doesn’t teach you everything. Becoming an expert in this field requires working in the industry for years and years. Angela and I are constantly learning about different items, genres, shapes, designs, etc. When we come across things we have not seen before, we turn to Miller’s Antique Guides, fine art databases and other databases, and even Google Image Search to give an opinion on an item’s value.
I love my job. It’s a fascinating and rewarding industry. My passion is discovering treasures and looking for special and unique items. Even on our time off, you can find us in furniture and home décor stores, vintage stores, auctions, and second-hand shops.
Please explain the consignment process to our readers.
Before we accept anything for our showroom, we have to see it. Before the COVID-19 pandemic, we often saw items in person. For goods not in the local area, and now with the pandemic protocols, we rely on photos via email or video conference to tour someone’s home. Once we establish that we can sell the goods and select the items we can take on consignment, we provide a free appraisal for those items. Our free appraisal includes a list of the things we can take and an overall value for those items. We quote a high and a low value, which is always 30% less. This means the sale price is flexible depending on how long we have an item and how much buyers want to negotiate.
Consignment and auctions are two options for selling high-value goods. What are the advantages of consignment?
Both consignment and auction are great choices for selling items, especially if you don’t have the time or energy to sell them one by one. Auctions can often sell your goods quicker, but better quality and high-end goods will sell for more money by consignment. However, if your items are in a very specialized auction (e.g., firearms or Asian ceramics), they may fetch at a higher price than consignment. Another advantage of the consignment process is that we beautifully merchandise your items in a showroom. We also market them in-store and on our website and social media feeds. We can also arrange to list your items on eBay. This includes a lot of work and understanding of how to package and ship goods safely.
What items sell quickly, and what is slow to sell? What are buyers looking for today?
High-quality brand-name items in excellent condition sell well. Style and trendiness are the two main factors in selling used furniture. Brands such as RH (Restoration Hardware), George Smith, Mitchell Gold, Hickory Chair, Bernhardt, Ligne Roset, Paltron Frau, West Elm, Crate & Barrel, CB2, Ekornes Stressless, Natuzzi, American Leather, Lee Industries, Roche Bobois, Camerich, Barbara Barry, Stickley, Serena & Lily, Ralph Lauren Home, and many more mid-and high-end brands achieve the most value. People also look for down-filled sofas, solid wood construction, or special veneers on hardwood frames. They prefer bench seats on sofas and classically styled armchairs.
Buyers today are looking for trendy pieces such as live edge wood furniture, reclaimed wood pieces, industrial antique/reproductions, mid-century modern, vintage retro 1980s such as brass and glass, chrome and leather, or marble, the Bohemian “boho chic” look (vintage and retro rattan, weavings, unique chairs).
Some quality pieces never go out of style. We encourage our buyers to consider mixing contemporary with traditional and vintage for a unique but sophisticated look that will stand the test of time.
What are things worth today compared to the past? How has the perception of value changed over time?
This is an excellent question, and the answer can disappoint some people. What many people think their items are worth is based on sentimental value. Let me explain.
What was then…
Generations ago, when household goods were scarce and expensive, anything you had was repaired or repurposed. Items made before the 1950s were often hand-crafted and made from either solid wood or beautiful veneer on a hardwood base. The pieces were not knocked out in overseas factories and fall apart in just a few months’ time. Back then, furniture was expensive. People treasured receiving gifts such as crystal, china, and silver to start collections. They could add to those collections over their lifetime and pass them down to their children.
What is now…
Today, we live in a global economy. Styles and trends are changing faster than ever before. With our fast-paced, online and active lifestyles, younger generations don’t have the living space and don’t have any interest in collecting what older generations once treasured. (See Linda’s article, About Downsizing… Kids Don’t Want Their Parents’ Stuff). Only a very small segment of society is still interested in buying fancy china and crystal. Therefore, what was very valuable and expensive to buy before has little to no value today due to a lack of demand.
The market is flooded with “collectibles” as seniors downsize, so the rarity factor (also important in the goods’ valuation) is no longer there. We call a lot of the furniture made in 1850-1945 “brown furniture” because it was made from rare woods such as mahogany (Did you know it takes a mahogany tree up to 600 years to mature?), walnut, rosewood, etc. Unfortunately, people today don’t like and don’t want this large, heavy (yet high-quality) furniture. It doesn’t suit the contemporary style and architecture of most new homes and apartments. Sometimes, it doesn’t even fit through doorways, let alone in elevators.
It’s hard for people to hear that we can’t sell the dining suite they may have paid $30,000 for in the 1980s. Not only does it hurt their feelings, but they also consider it an insult to their taste. Even if the dining suite has sentimental value, as so many family milestones happened around that table, unfortunately, it is just no longer a saleable style.
In the end, value comes down to what someone is willing to pay for something. And if there is no demand for the style or the piece(s), there is no value.
How do you manage sellers’ expectations? How do you explain your estimates?
We start by being extremely transparent with our consignment process, including estimating the value of the sellers’ goods. We explain our commission structure and tell our sellers that we are motivated to a higher price because our share is more too.
When setting sale prices, we rarely overestimate an item. We value conservatively based on photos. And we also tell sellers that we may adjust the sale price if the items’ physical condition is different from the seller’s description and pictures. We rarely, if ever, sell an article for the lower value. We always ask the seller if they are comfortable with selling the item for less than the quote. But again, this rarely happens.
Most sellers who work with us trust our expertise and agree with the prices we set. If a seller wants more than what we believe we can get for an item, we suggest selling the items privately or using another resource.
What are your suggestions for sellers before they embark on the consignment process?
- Decide which items you wish to keep. First, ask family and friends what they want to avoid any hurt feelings.
- Try to find original receipts or past appraisals. This will help establish the items’ origin and history and aid in the appraisal.
- Figure out what method of selling works best for you: consignment, auction, or selling privately.
- Ensure the items you want to sell are in good physical condition. Complete repairs and have the items cleaned and polished.
- Take good-quality photographs of your items. Send the pictures to several places until you find a company that best meets your needs. In your message, include the dimensions of the furniture, rugs, and artwork, as well as the brand names and artists’ names. Indicate whether the work is an original work or print.
- Make arrangements to transport your items to the consignment company you’ve chosen.
- Keep your inventory receipt of what you placed for sale in a safe place. Once the item has sold, keep the sale receipt as you may need it for tax-related purposes.
Thank you very much, Tina Beer Hamlin, of Coast Consignment, for sharing your knowledge and explaining the consignment process!
If the thought of moving and downsizing is overwhelming, contact the Out of Chaos team. We offer organizing services and can help you disburse unwanted items through consignment or other methods. For more information, you can contact Linda through the Out of Chaos website.
