Auction House Consignor Fees

[Sophiedog]

Originally Posted by travrosty

you list an item with an auction house.

item sells for 1000 dollars, if there is both a 20% sellers and buyers commission fee, then the buyer pays 1200 and the seller gets 800. the seller only gets his 80% of the regular sale, the hammer price, not the added on buyers premium.

the seller has to pay 20% more than his high bid, this is the 'juice' - the added on buyers premium added in, so if the high bid is 1000, the buyer pays 1200, and the auction house gets the top 200 of the 1200 from the buyer and the next 200 from the seller, and the buyer pays 1200 and the seller ends up with 800.

this is with both a buyers and seller fee of 20% of the high bid. if you negotiate it lower as a seller that is up to you. the buyer cant negotiate it lower, it is whatever the auction house standard buyers fee is listed at. some auction houses are as high as 21 percent or maybe even a little more for either/or, some are 15%, etc. it varies with each auction house.

some auction houses go as low as 0% for the sellers commission, obviously to drum up business. But beware that just because they go to 0%, doesnt mean it is a better deal for the consigner. if a big auction house who charges a sellers commission can get more exposure for your piece and get a higher bid price. you could do better with a bigger auction house, its up to you to make that decision.

So it's 20% buyer and seller fees...Great Thanks