auction advances

[uyu906]

No, just wondering if 105% is the best one can usually negotiate with a big auction house for 1 baseball item worth an estimated 20K?

[Casey2296]

Originally Posted by uyu906

No, just wondering if 105% is the best one can usually negotiate with a big auction house for 1 baseball item worth an estimated 20K?

Personally, I work with one AH here who is a longtime member and I know how hard he and his family work to sell my consignments, they do such a great job I would never ask for a piece of his end, but that's just me, I'm more into relationships than a 5% vig.

[uyu906]

No offense, but your situation is not the same as mine. I have no allegiances to any auctioneer because I have never used one before. I am simply asking for opinions on my particular situation and what I should expect from auction companies from members who have auctioned an estimated 20K item in the past.

Can anyone address my very specific question?

[Casey2296]

Originally Posted by uyu906

No offense, but your situation is not the same as mine. I have no allegiances to any auctioneer because I have never used one before. I am simply asking for opinions on my particular situation and what I should expect from auction companies from members who have auctioned an estimated 20K item in the past.

Can anyone address my very specific question?

None taken.

[molenick]

You are asking for a specific answer to fit your situation but people can only answer from their own experiences and their own situations. There is no one answer to "what kind of advance can I get on a $20K item and is 105% the best I can do on the hammer price".

But as a general answer:
1) most AHs give advances
2) they seem to range from 25-50% (in my experience it is closer to 33%)
3) some consignors utilize this option, others prefer not to
4) no one yet has mentioned interest
5) the % of the hammer price you receive is negotiable but it seems like 100% is now pretty standard....you may or may not be able to get a better rate like 105%, but I don't think you can do better than 105% except for really rare/valuable items (that's just my opinion)

Essentially, your question is only answerable by contacting several AHs, telling them what you have, and asking them what % they can offer as an advance (and also the best they can do regarding the % you will get of the hammer price).

[uyu906]

Thanks to everyone who responded and help educate me about this process. Four auctions houses expressed interest in selling my item. Interesting, estimates for it varied widely. Among those auction houses I was offered between 0-10% of the buyers premium for a hammer % of between 100% and 110%. I selected the auction house that I thought showed the most excitement about my item and felt they would do the most to advertise it. I signed the electronic contract today.

Thanks again!

[bnorth]

Originally Posted by uyu906

Thanks to everyone who responded and help educate me about this process. Four auctions houses expressed interest in selling my item. Interesting, estimates for it varied widely. Among those auction houses I was offered between 0-10% of the buyers premium for a hammer % of between 100% and 110%. I selected the auction house that I thought showed the most excitement about my item and felt they would do the most to advertise it. I signed the electronic contract today.

Thanks again!

Best of luck with your item.

[Zach Wheat]

Originally Posted by uyu906

Thanks to everyone who responded and help educate me about this process. Four auctions houses expressed interest in selling my item. Interesting, estimates for it varied widely. Among those auction houses I was offered between 0-10% of the buyers premium for a hammer % of between 100% and 110%. I selected the auction house that I thought showed the most excitement about my item and felt they would do the most to advertise it. I signed the electronic contract today.

Thanks again!

Sounds like you made a solid decision. Let us know how it comes out and what the payout times actually were.