How does one avoiding losing their shirts with auctions houses?

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I think they charge commission and premium because they can. And because thousands of catalogs and postage aren't cheap. There are some that don't and there are most that won't if you have big enough consignments. I think that's the key. I think it's a fallacy to say that you won't pay commission ever on a $3K consignment. That's a nice chunk of change for most, but about a 'normal' lot in one of the big auction house auctions. As a general rule, the more you consign, the less you pay. If you have huge, high demand items, you may get some of the buyer's premium as well. Like JC said. Make a list, make it a large group, and shop it around. Don't be afraid to play one against the other. It can't hurt. And, as far as the business, there are LOTS of people looking at every lot in every auction. Some to try to buy to make money. Some to try to buy to build their collection. And tons of other reasons. Sometimes, something slips through. But more and more, those are the exceptions. Good luck!