Selling at Auction
Choosing Leslie Hindman Auctioneers
Decades of experience combined with a relentless pursuit of top sales results make Leslie Hindman Auctioneers the best choice for selling at auction. Whether coordinating the sale of an entire estate or selling a few items from your home, we cover a wide range of property from rare books and manuscripts to fine jewelry and timepieces. Over the course of a year, we conduct over forty live auctions which reach our global audience of private collectors, dealers and institutional buyers. Through our enormous online presence with platforms like ArtFact, Live Auctioneers and TheSaleRoom.com, we command top dollar and exposure for our clients’.
Evaluation
The first step in the auction process is obtaining an evaluation of your property’s value. You can start now by requesting a complimentary online auction evaluation.
If you prefer to mail photos of your property, please print the PDF version of the auction evaluation request form and mail to:
Leslie Hindman Auctioneers | Chicago
Attn: Consignment Department
1338 West Lake Street
Chicago, Illinois 60607
Please allow two weeks for us to contact you with your preliminary auction evaluation. Please note that these evaluation are subject to change upon physical inspection of your property. It is customary for us to review photographs prior to scheduling an on-site visit. If you have additional questions or would like immediate assistance, please call our offices at (312) 280-1212.
Estate and Formal Written Appraisal Services
For larger groups of property or estates, please contact Emily Janz in our Chicago Trusts, Estates and Appraisal department at 312.334.4204 to discuss your needs and develop a custom plan specific to your situation.
Consigning to Auction
The Consignment Agreement
After reviewing the auction evaluation, the next step in the auction process is to review a Consignment Agreement for your property drafted to our mutually agreed specifications. This agreement will include an auction date for your property, sales commission, insurance charges and policies, photography fees, and any use of name that you permit in advertising or printed catalogues. Complete confidentiality is assumed unless otherwise noted in the Consignment Agreement.
Frequently Asked Questions
How do I get my property to you?
While Leslie Hindman Auctioneers does not provide packing and shipping services, we do have a list of recommended third party shippers to assist you with delivering the property to our Chicago office. In some instances, Leslie Hindman Auctioneers can manage and execute the delivery of large consignments or estates. The cost for these services will be deducted from the proceeds of auction as outlined in the consignment agreement.
What is ‘Fair Market Value’?
Fair market value is defined by IRS section 1.170 and 20.2031(b) as “the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell, and both having reasonable knowledge of relevant facts.” Insurance appraisals or replacement values are representative of what it would cost to purchase your item from a gallery or original maker.
What if my property doesn’t sell?
If an item does not sell it is your responsibility to have it picked up within seven business days after the date of sale. If an item is not picked up or arrangements have not been made, the seller will be charged $10 per lot per day until the item is removed from our facility.
When do I receive payment?
Your account executive will contact you after the auction and provide the results of the sale. Prices realized are also posted on our website. Settlement checks and statements are mailed out thirty days after the auction.
What is a buyer’s premium?
When purchasing at Leslie Hindman Auctioneers a premium is paid by the buyer based on the hammer price. Settlement with our consignors is based on the hammer price, which is the total cost, excluding buyer’s premium and tax.
Why are the prices realized posted online different?
Our website listings include the buyer’s premium paid for the item. The seller’s settlement is based on the hammer price for which each lot sells.
