A.H. " Advances ?
 

Hello ; Any veterans of consigning to a deep-pockets Large Auction House ever been offered a " generous advance "? Any pitfalls that you can share ? I see the advantage to me the seller as a benefit: i.e. getting some funds now up-front as opposed to waiting until early February of 2025 .
Has it worked out okay for anyone here in 54 ? No worries ?
I'm asking because I'm in exactly that position of wanting a substantial
amount now-ish as opposed to January 2025 . Sometimes my items are beyond my usual monthly Monday-Night-Probstein audience ( Well , la dee dah , la dee DAH ! )
Thanks for your input , regards , MG54

I approached a major AH about a "generous advance" recently and they offered me like 25% of what they appraised a consignment at, and I thought the whole thing was a waste of time. Didn't seem generous and their assessment of my consignment was a joke.

Maybe others have had better experiences.





QUOTE=MikeGarcia;2470885]Hello ; Any veterans of consigning to a deep-pockets Large Auction House ever been offered a " generous advance "? Any pitfalls that you can share ? I see the advantage to me the seller as a benefit: i.e. getting some funds now up-front as opposed to waiting until early February of 2025 .
Has it worked out okay for anyone here in 54 ? No worries ?
I'm asking because I'm in exactly that position of wanting a substantial
amount now-ish as opposed to January 2025 . Sometimes my items are beyond my usual monthly Monday-Night-Probstein audience ( Well , la dee dah , la dee DAH ! )
Thanks for your input , regards , MG54[/QUOTE]

Read the advance agreement very carefully. I have seen advance agreements that specify substantial interest rates on the advances.

We do them from time to time, but we don't have the war chest to do a lot. No interest on advances and we've done as much as 75% of projected total, but I think our biggest is only $10,000 so not relevant if you've got something bigger than that.