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#1
07-11-2022, 11:27 AM
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auction advances
Hi Guys and Gals,
I have never auctioned anything through an auctions house, but plan to do so soon. Would someone tell me everything that goes into an advance on an item you are auctioning through a major sports auction house? What percentage of their estimate will they give as an advance? For example, the auction house estimates an item will go for $20K, what would they advance? Are these advances treated as loans with interest? I literally know nothing about them, other than they exist? Thanks for any help - 
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