Consignment Fees

[bobbyw8469]

Originally Posted by MVSNYC

There's no set rules, but I doubt a consignment valued under $10k, you'd get any percentage back from buyer's premium. I'd even think the piece might need to be valued $15K+, but if Leon can hook you...jump at that.

I'm not looking at a percentage back from the buyer's premium, but consignor's paying a seller's premium, with this many auction houses to choose from, is ridiculous. For consignor's that DO pay it, that means the auction house is getting 30% (maybe more) off YOUR consignment. 20% from the buyer and 10% (at least) from you. That is too much, IMHO.

[MVSNYC]

AH's have been doing this for 25 years+, nothing new...in fact, historically the seller's premium used to be 20%.

I think more and more these days, you can negotiate.

[khkco4bls]

Wow Robert Edwards charged me 15 10 and 5% on my items it was 60000 worth of memorabilia kind of upset knowing I should have gotten zero

[khkco4bls]

That money should have gone in my pocket

[ruth-gehrig]

Just as helpful as knowing consignment fees, I would be curious to know which auction houses send your info to the IRS

[gidyup24]

Thanks for all the helpful information. Has anyone ever known Heritage give a portion of the BP in addition to waiving the sellers fee?

I've also been curious, is there a dollar amount that triggers and AH to report to the IRS? I've never received any tax info before, and always have to report it on my own.

[insidethewrapper]

When we are talking about very low consignment fees ( even zero) are we talking the total amount of a consignment offered to the AH of $10k+ or an individual item ?