Sep 9, 2015

Understanding the Auction Consignment Process

Arguments rage as to whether it’s better to consign collectibles for resale via auction or to sell them oneself via private treaty. Detractors of the auction method say that auction house fees are too high: up to 50 percent of an item’s final price. Auction enthusiasts say that the auction method of selling is inherently better and ultimately brings higher prices regardless of the fees. Which point of view is right, and what difference does it make?

Depending on what you’re selling, either point of view can be right, and knowing which point of view is best for your circumstances can mean more — or fewer — dollars in your pocket. If you’re considering consigning your collections for resale, here are some points you may wish to consider before consigning to an auction house.

1. Make sure your items are genuine. Generally, serious collectors know that their items are the “real deal.” But when collectibles are inherited or sold through an estate executor, a collection’s provenance may come down to family hearsay. This is where the advice of a reputable auction house or >>>Read More

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