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Consigning with an auction house

Can anyone tell me what a typical consignment costs? Is it worth it? Im sure the extra eyeballs help and Ive got a stubborn item or two Id like to move. Just never done the whole auction house thingy. Thanks in advance.

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Permalink Reply by Bruce Juice on August 8, 2018 at 10:43am

They usually take between 10 and 25% of the final sale from the consignor and around 20-25% from the buyer. (Amount depends on the auction house and your relationship with them, how much they want the item, etc.)  Too much in my opinion -- as I remember when they took around 25% total from buyer and seller back in the late 80's, early 90's.  Contact a few of the auction houses and see who gives you the better deal.   Let us know how it turns out.  

Permalink Reply by just some dude on August 8, 2018 at 10:48am

Great info, thank you. I sent a prelim request to RR. Very curious as to how they will assign value to my item(s) and what will happen if I go through with it. I do realize their valuation may not be met by the bidding public, so if an item doesnt get alot of bids, 25% would be a big hit off of a low starting price. 

Permalink Reply by Bruce Juice on August 8, 2018 at 11:17am

RR shouldn't take more than 15% from you.  Hopefully you don't need the money in a hurry as it takes 6 weeks after the auction ends to receive your money.  If it's a higher ticket item and they really want it, offer to consign it with a reasonable reserve -- although the good stuff always seems to go pretty high at RR. 

Permalink Reply by just some dude on August 8, 2018 at 11:18am

Great, thanks!

Permalink Reply by Eric Keith Longo on August 8, 2018 at 11:23am

+1 Elizabeth Otto and Bobby at RR are great folks and make the process easy. I have sold through them.

Permalink Reply by Macca Fan on August 8, 2018 at 11:25am

+1

Permalink Reply by just some dude on August 8, 2018 at 11:27am

Cool beans, I appreciate the feedback. Is determining authenticity a part of their appraisal? In other words, will they say we dont think its real or is it more of a we’re not interested type of statement?

Permalink Reply by Thurston bell on August 8, 2018 at 12:02pm

Rr-auctions are professional, they may not like stubborn items generally speaking they like the higher spectrum of memorabilia. Waiting 6 weeks for the payment is very annoying.

Permalink Reply by marc e on August 8, 2018 at 2:12pm

R and r is 20 percent plus a lot fee if I remember 10 to 15 per lot. And I think an insurance fee

Permalink Reply by sling on August 8, 2018 at 1:33pm

here are some things to ask about: Consignor percentage; is there a photo fee; storage fee?  Insurance fee; shipping fee if not sold; can you set a reserve price and if so what are the terms; what are minimum estimated sales price to get into auction; If I have like 30 items that are good for you, what discount do I get versus just selling  a few items?

Permalink Reply by marc e on August 8, 2018 at 2:17pm

I've dealt with basicly every auction house. Unless u have a long time relationship and consignment all the time ur not getting any deal.most major auction house is  at 20 percent. The only one that might be more is Julian's.   Then u have a photo fee that bonhams Chrisies and Sotheby's charge .its 100 per photo per lot and usually 1 percent of minimum for in surance

Permalink Reply by marc e on August 8, 2018 at 2:21pm

Please note the major auction houses u tie ur stuff up for 6 months till u get paid or longer. This July I had stuff in 5 different auction houses over 300 lots.  I'm already doing stuff now and wont get paid till 2018

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