Frequently Asked Questions (FAQs)
WE LOVE QUESTIONS! WHETHER BUYER OR SELLER, HERE ARE ANSWERS TO FREQUENTLY ASKED QUESTIONS. FEEL FREE TO CALL US ANYTIME AT 207 799 3990.
- How does consigning work?
How do I get started?
First, send us pictures of your items. You can attach it to the Consignment Form on our website or send directly to email@example.com along with your email address and phone number. A CP manager will call you to discuss your items. Next, fill out the CP Consignment Inventory sheet with measurements and descriptions of each item electronically and email it to the same email address. Be honest about the condition of your items, they will be inspected and can be rejected. As a final step you will need to email a scan or image, drop off a signed copy of the Consignment Contract.
- How will CP price my items?
CP is focused on SELLING your items at a fair market price. The Initial Price is based on input from the customer concerning the history, wear, and condition of the item. We check this against a large computer database of actual sales, current internet research, personal contacts, and staff experience. Generally, items are priced within 48 hours of delivery. You can track pricing on the website. We have an abundance of experience selling the majority of items, but specialty items can require more time. Generally, ticketing is complete within 48 hours, but prices are assigned to items a soon as they enter the sales floor. Specialty items may take longer. The consignment period does not begin until the item is placed on the floor.
Why does CP automatically reduce prices on most items?
Our pricing mechanism is designed to create competition between consumers. The CP model places pressure on consumers to make a decision. This is particularly important in a marketplace that loves to negotiate! Customers regularly find that they waited too long, and the item they wanted to buy is gone because the price was reduced, or management received an acceptable offer.
Do all items have a scheduled reduction?
Most, but not all. CP may fix a price or a "floor" on special items. CP reserves the right withhold items from the floor if there are too many similar items available (like fine china as an example) in inventory, or if there is an impending seasonal change (like Christmas or Halloween) which will make a difference in pricing. However, your consignment period does not start until the item is priced and placed on the floor.
- What Influences Prices?
Everything from today's weather to seasonal changes and new housing trends can affect prices. Floral patterns are generally out of favor with the new generation, and small antiques are now worth more than large antiques due to downsizing. Providing the original purchase price and the "story" (the actual history of any item) can significantly influence pricing, as does the literal condition of the item, which can be relative (a scarred antique can have more value than other antiques, depending on the item and the era). Sometimes it is best to paint that beautiful mahogany dresser with the water stain on it in order to preserve and sell it. By and large, high-quality, functional items hold up in value - but they are not new. Be realistic about your items and realize that consigning is also about recycling and repurposing items to sell in order to cut storage and handling costs.
Does CP management have the right to negotiate the price of any item?
Yes. Only the CP Store Manager may negotiate or approve a price that is fair in their discretion, in order to sell your items in a timely manner. The management of CP is very experienced at selling a wide range of consumer items, and know well the current market value of any item in the shop or on the website.
Does CP purchase items directly for resale?
Yes, CP will buy certain items, or entire homes, at wholesale or liquidation prices when it is appropriate to do so.
Can I donate my items for a tax deduction through CP?
No. CP is not a non-profit 501(c ) corporation and cannot take items as a charitable contribution. However, we do engage in programs with churches and charities that allow their patrons to donate their share of proceeds and receive a tax deduction as a result. This is effectively the same model that PBS uses for its Cash for Clunkers program made famous by "Click & Clack". CP will donate 10% of its share of revenues to legitimate fundraising programs for nonprofit charities
Does CP offer sales or promotions to sell items?
Yes. CP holds regular "Garage Sales" during spring and summer months to move seasonal inventories and to offer our members the opportunity to sell their own items in a fun, outdoor setting which is supported by advertising and promotion. We also hold indoor holiday seasonal sales and promotions.
Does CP actively advertise?
Yes. CP regularly markets its brand as well as individual items regularly through broadcast advertising, social media, over the internet, and through our website.
- Do all items go on the Cherished Possessions website?
No. Many items in the store sell before they can be priced, imaged, and measured for the website. Additionally, inventories in the store change daily. CP regularly displays new inventories on Facebook which have not been priced. Recurring customers tend to purchase items directly on the website to secure the item because they are allowed to return website purchases within 24 hours of their pickup if it is not what they wanted.
- Is scheduling important?
YES! We not only plan around pickup and delivery schedules, we schedule many items in advance so that we know we will have a good display space available. Consignors who don't schedule with us are not assured of getting their items in the que to get sold. Scheduling gets better results for everyone.
- What Items will CP NOT sell?
We love unique and oddball items as much as staple items. We have sold everything from garden tractors and kayaks to 18th-century Irish church confessionals, barber shop chairs, and high-end modern art. Sometimes we can't even identify what we are selling! Don't be shy about asking us. We love the be challenged with unique items.
What happens if an item doesn't sell?
After ninety (90) days, the consignor is obligated to pick up their items. CP may, at its election, extend the consignment period and/or include the item in its "clearout" section. If CP does not elect to extend the consignment period, or if the consignor does not pick up their inventory within five days of contract terms, CP may liquidate or dispose of items in any manner it deems necessary.
Why don't certain items sell?
The marketability of any item is dominated by demand, price, quality, function, and design, not to mention current trends that can affect it. Many large antiques that were highly valued are now valued lower than much smaller antiques that fit into smaller houses. A perfect sofa with a floral pattern will not sell for as much as an older sofa in a contemporary color. All of these things determine the marketability and price of each item. The CP staff are able to translate these variables into a price that works for most items but invariably there are certain items that are just not in demand, despite our best efforts.
- Who are CP's customers?
CP sells to, and consigns from thousands of loyal patrons that include a very wide client base of commercial dealers, homeowners, apartment dwellers, artists, landlords, collectors, craftsmen, interior designers, movers, jewelers, and builders, not mention housewives and husbands looking for unique home furnishings and personal gifts.
Do you give discounts to dealers?
Yes. Confirmed commercial dealers receive a 10% dealer discount by providing their tax-exempt number and filling out a simple form.
- Is there a CP "member" discount?
CP can offer extended courtesy service to its recurring customers that both consign and purchase from CP. This generally includes an extended consignment period, discounts on purchases, location services for specific items, short term storage, low-cost local delivery, clean-up and refurbishing services, etc. The company is in the process of formalizing a loyalty membership value for recurring customers.
- Can CP charge other fees beside consignment fees?
Yes. CP may charge fees to consignors and buyers for cleanup, handling, repair, and other services as may be necessary. CP does not charge for imaging or website access. CP does not charge consignors for normal cleaning and preparation of items to display, but may charge when excessive or unexpected cleaning and repair is required, or were not disclosed in advance. CP will also charge for disposal of items that do not work (lighting or kitchen items) or items which are irreparable due to smell, scratches, stains, tears, faded cloth, and other irregularities and which are not disclosed by the seller.
- Can I have items professionally painted, refurbished, repaired, or repurposed at CP?
Does CP pick-up and deliver?
CP utilizes a variety of contractors to move items for customers at competitive prices. We have found that we can get quicker turnaround and better haul rates for customers by ensuring that they can take advantage of backhauls and specialized handling from a pool of contractors. All contractors are fully insured and proven haulers. CP maintains its own truck for special circumstances and to help CP customers in time of need of local, short term transport.
How do I schedule a drop off?
Call us at 207 799 3990 or email info@CPConsign.com. The CP manager will confirm a calendar schedule with you or your haulers in advance so that we are prepared for your delivery.
What is the CP return policy?
All CP sales are for cash and final. However, CP recurring consignors and customers are generally allowed to return items within 24 hours if agreed upon in advance, especially when it involves a website purchase. We try to accommodate regular customers who wish to see how an item looks in their home if it will fit, etc., so long as they pay for hauling costs and it is returned in the condition it left.
Does CP guarantee authenticity on documented articles?
No. CP only documents the history, references, original purchase price, and current market value of items whenever possible. Buyers are responsible for their own research and confirmation of value for any article found at CP.
How does CP document quality control?
CP physically inspects all items and does not sell items that are impaired or do not work. As an example, we will not sell chipped or cracked glass items, incomplete china sets, or lamps that do not work. After establishing that an item is functional, we use a simple four-star grading system:
Fair (1) = * Functional and structurally sound but requires repair or touch up
Good (2) = ** Acceptable for use
Excellent (3) = *** Minor wear
Superb (4) = **** New or practically new items, or well preserved as antique
What is CP Money?
CP issues its own currency in $20.00 and $5.00 bills to facilitate trading, promotions, and referrals. CP money can be used like cash for any purchase worth $60.00 or more at CP. CP also uses CP Money to swap or exchange items which may not be of equal value, and to compensate customers and friends who refer new consignors to us, so they can buy whatever they want at CP at a later date. Call us about our referral program so we can send you CP money too! CP money is also a great gift for friends and relatives.
- What do I have to do next?