How does one avoiding losing their shirts with auctions houses?

[jb217676]

Nothing beats a good old fashioned private sale!

[BeanTown]

Make up a consignment list. Then allow all the AHs compete for your business. Mention you are a Net54 member and using Net54 advertisers will most likely give you a very good deal. I imagine you have already been contacted privately by some AHs already with this post.

Depending on the amount of consignments, you should not have to pay a consigners fee and if you consign enough stuff, ask for a percentage of the buyers fee paid to you. Plus, AHs will pay for grading many times. It's also good to have them allow you to read the auction description of your consignments before they get posted.

Many other things can be negotiated to like catalog placement, reserves, lot groupings, the size used in the catalog (quarter, half, or full page) and maybe even a cover.

[irishdenny]

Originally Posted by BeanTown

Make up a consignment list. Then allow all the AHs compete for your business. Mention you are a Net54 member and using Net54 advertisers will most likely give you a very good deal. I imagine you have already been contacted privately by some AHs already with this post.

Depending on the amount of consignments, you should not have to pay a consigners fee and if you consign enough stuff, ask for a percentage of the buyers fee paid to you. Plus, AHs will pay for grading many times. It's also good to have them allow you to read the auction description of your consignments before they get posted.

Many other things can be negotiated to like catalog placement, reserves, lot groupings, the size used in the catalog (quarter, half, or full page) and maybe even a cover.

Also, At THiS Point iN Your humble AH Stage...

"You Can Always Hire Mr. Beantown Jay ta do Your Negotiating"
He Obviously Has Done THiS Before...

Looks Like Mr. Jay coulda Saved You iN upwards of $1250,
And Possibly EVeN More!?

"How bout a Sea Story!?"

When i was iN the Submarine Navy,
I was known ta be a "Sea Lawyer"
We were few & far apart...

i Help'd other Sub Sailors Re-Negotiate Their Contracts
Due to Their Career Counselor "Miscounseling" Them.
i help'd many "BubbleHeads" recouped Ovar $300,000 iN about 10 year time frame...

Unfortunately wit Cards & AH's,
There's No Miscounseling...
JuST "Lessons Learned"!

Next Time, i'm Sure the Numbers Will Go Your Way ~

[packs]

Still have no idea why a house would charge a commission if they charge a buyer's premium. That's double dipping.

[autograf]

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!

[calvindog]

Send emails to auction houses insisting upon hidden reserves and the ability to bid on your own lots. Be told that it's illegal and they won't do it by some of them -- but eventually one will allow you. Pretend you don't know what anyone is talking about when word gets out about it.

[Exhibitman]

They all try for commissions, but in this market and with BPs that often exceed 20% of the hammer price there is no need to consign to an AH that will not eliminate it, provided your items are halfway decent.

Your alternative is to retail the items yourself, with the understanding that in addition to the time and effort you will have to put into the endeavor, you will pay about 13% between eBay and PayPal to sell. A private sale is often the best way to avoid transaction costs (especially if you refuse to accept PayPal) provided that you have some idea of what your items are worth and someone wants them at that price point.

[BeanTown]

The landscape for auction houses have changed. Ten years ago it was the norm to see auction house advertise no reserves. Now, it's more acceptable to have a reserve as long as it's disclosed. Just like it's the norm to report cash payments to the IRS, when you are providing a service or selling a good.

Good luck in finding an auction house to use. I don't think you can go wrong with any Net54 advertisers. Most have the same mailing list and will get your consignments out in front of active bidders.

[bnorth]

Originally Posted by calvindog

Send emails to auction houses insisting upon hidden reserves and the ability to bid on your own lots. Be told that it's illegal and they won't do it by some of them -- but eventually one will allow you. Pretend you don't know what anyone is talking about when word gets out about it.

Isn't this actually allowed is certain states like Texas?

[Runscott]

Dishonesty is the key to making money through consignments, either on ebay or through major AH's. I haven't seen any evidence that this is changing, despite all the prison sentences.

I have seen several items for sale on a seller's website, then sell for a low price at auction, then show up again on the same seller's website. I would say that they should realize that we aren't fools, but apparently some of us are.

[bobbyw8469]

Originally Posted by packs

Still have no idea why a house would charge a commission if they charge a buyer's premium. That's double dipping.

Memory Lane does it....and are getting rich!