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Posted By: Jay

Bruce raised a good issue with this post. I seems that the prudent consignor would:



1. Request a cash advance for as high a percentage of the consignments retail value as possible (just in case the **** hits the fan).



2. Make certain you know what value your consignment is insured for while in the auction house's possession. There should be an insurance policy with a known company--self insurance should be a non-starter.



3. Avoid consigning to auctions that are a long way off. The market can change and once consigned you can not get your lots back because the market is not where you thought it would be. More time equals more uncertainty.



I'm sure the list could be expanded and improved but these are just a few thoughts.

and John, with all due respect, Bruce is anything but an idiot.