Some auction houses do buy but they are tough to sell to. Generally they buy at large shows. Obviously, if they had any interest in buying an item, you would have to ship it to them well before being paid.
They are in business to spend no money on millions of dollars worth of items and take 20% from the buyer on every item and a % from 0 to 20 from the seller depending on how bad they want the consignment.
So if they sell $10 million, they minimally gross $2 million from the buyers and likely another $1 million from the sellers.
Granted, they have overhead, cost of catalogs, maintaining a web site, etc., but I expect the bottom line for particularly the larger ones is out of this world!
Higher end items you are better off consigning than trying to sell to them.
Last edited by rand1com; 07-03-2023 at 06:18 AM.
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