Auction House Consignor Fees

[Sophiedog]

Hello Everyone! I have a few autographed items that I want to consign to an auction house. I remember that some do not charge for consignments but don't remember which ones or if they even still do. Does anyone know if any still don't charge for consignments?
Thanks!

[MooseDog]

You will be charged a commission based on the hammer price unless you negotiate otherwise. Unless the items you have are really unique or high value you won't have a whole lot of leverage in this matter. Generally there is no "fee" to consign an item, although for autographs they'll try to charge you an authentication fee unless you have an authentication from a reputable TPA.

[Sophiedog]

You will be charged a commission based on the hammer price unless you negotiate otherwise. Unless the items you have are really unique or high value you won't have a whole lot of leverage in this matter. Generally there is no "fee" to consign an item, although for autographs they'll try to charge you an authentication fee unless you have an authentication from a reputable TPA.

Thanks Very Much! I really appreciate your response.

[packs]

Wait so auction houses take a buyers premium and then charge you (the consignor) a commission on top of that? I thought the buyer's premium was the commission?

[travrosty]

you list an item with an auction house.

item sells for 1000 dollars, if there is both a 20% sellers and buyers commission fee, then the buyer pays 1200 and the seller gets 800. the seller only gets his 80% of the regular sale, the hammer price, not the added on buyers premium.

the seller has to pay 20% more than his high bid, this is the 'juice' - the added on buyers premium added in, so if the high bid is 1000, the buyer pays 1200, and the auction house gets the top 200 of the 1200 from the buyer and the next 200 from the seller, and the buyer pays 1200 and the seller ends up with 800.

this is with both a buyers and seller fee of 20% of the high bid. if you negotiate it lower as a seller that is up to you. the buyer cant negotiate it lower, it is whatever the auction house standard buyers fee is listed at. some auction houses are as high as 21 percent or maybe even a little more for either/or, some are 15%, etc. it varies with each auction house.

some auction houses go as low as 0% for the sellers commission, obviously to drum up business. But beware that just because they go to 0%, doesnt mean it is a better deal for the consigner. if a big auction house who charges a sellers commission can get more exposure for your piece and get a higher bid price. you could do better with a bigger auction house, its up to you to make that decision.

[packs]

Damn that stinks. I thought the AH made their money on the buyer's premium.

[travrosty]

yeah, i hear you, but they make it on both ends, unless it is one of the auction houses that has 0% consignor fees, there are a few around, but mostly mid to smaller auction houses that are trying to compete for the items that might otherwise go to a big auction house.

[Sophiedog]

you list an item with an auction house.

item sells for 1000 dollars, if there is both a 20% sellers and buyers commission fee, then the buyer pays 1200 and the seller gets 800. the seller only gets his 80% of the regular sale, the hammer price, not the added on buyers premium.

the seller has to pay 20% more than his high bid, this is the 'juice' - the added on buyers premium added in, so if the high bid is 1000, the buyer pays 1200, and the auction house gets the top 200 of the 1200 from the buyer and the next 200 from the seller, and the buyer pays 1200 and the seller ends up with 800.

this is with both a buyers and seller fee of 20% of the high bid. if you negotiate it lower as a seller that is up to you. the buyer cant negotiate it lower, it is whatever the auction house standard buyers fee is listed at. some auction houses are as high as 21 percent or maybe even a little more for either/or, some are 15%, etc. it varies with each auction house.

some auction houses go as low as 0% for the sellers commission, obviously to drum up business. But beware that just because they go to 0%, doesnt mean it is a better deal for the consigner. if a big auction house who charges a sellers commission can get more exposure for your piece and get a higher bid price. you could do better with a bigger auction house, its up to you to make that decision.

So it's 20% buyer and seller fees...Great Thanks