Has Anyone Sold Directly To An Auction House?

[SyrNy1960]

Has anyone sold directly to an auction house? I have no interest to submit my item to an auction house, but I would consider selling directly to them; of course leaving room for them to make a decent profit. As anyone done this before?

And if so, were you required to send them the item first, before being paid?

Thanks!

[rand1com]

Some auction houses do buy but they are tough to sell to. Generally they buy at large shows. Obviously, if they had any interest in buying an item, you would have to ship it to them well before being paid.

They are in business to spend no money on millions of dollars worth of items and take 20% from the buyer on every item and a % from 0 to 20 from the seller depending on how bad they want the consignment.

So if they sell $10 million, they minimally gross $2 million from the buyers and likely another $1 million from the sellers.

Granted, they have overhead, cost of catalogs, maintaining a web site, etc., but I expect the bottom line for particularly the larger ones is out of this world!

Higher end items you are better off consigning than trying to sell to them.

[Snapolit1]

Originally Posted by 3arod13

Has anyone sold directly to an auction house? I have no interest to submit my item to an auction house, but I would consider selling directly to them; of course leaving room for them to make a decent profit. As anyone done this before?

And if so, were you required to send them the item first, before being paid?

Thanks!

If an AH buys something from you, they are basically saying they are extremely confident it will get a higher price in an auction, right?

[Directly]

Might try to solicit directly to the collector whales out there, there are hundreds of them drying to spend and ready to buy-(but consigning to any good HA might be your best option for the items exposure!) -just a thought.

[3-2-count]

If you are already of the mind set that selling to an AH you'd be comfortable leaving room for them to make a decent profit, couldn't you also simply contact a dealer and offer them the same deal?

There are many dealers on this board to reach out to who would treat you fairly. Thats my two cent opinion!

[mrreality68]

Others pretty much said it but it is better for you to sell at auction than selling to the auction.
If you sell it to the Auction house they will only give you 70% to 80% of what they perceive market value of your cards are and you send to them before you get paid.
You should you Facebook, Instagram, or this forum to find people that might want to buy your collection in whole or part.
Regardlesss good luck

[SyrNy1960]

Originally Posted by Snapolit1

If an AH buys something from you, they are basically saying they are extremely confident it will get a higher price in an auction, right?

Steve, thanks! Yes, you are correct! I have a price in mind that I'm willing to accept, which leaves them much room for good profit.

I just don't trust the auction house process. I haven't dealt with any, but I've heard too many negative experiences; however, I'm sure there are good ones also. I do know an auction would give it much more exposure.

[SyrNy1960]

Originally Posted by 3-2-count

If you are already of the mind set that selling to an AH you'd be comfortable leaving room for them to make a decent profit, couldn't you also simply contact a dealer and offer them the same deal?

There are many dealers on this board to reach out to who would treat you fairly. Thats my two cent opinion!

Tony, thanks! I guess I should have mentioned from the start that this is a game used item, not a card. That makes a difference for sure.

I prefer to sell it directly vice auction house, but it may be the direction I have to go. UGH!

[SyrNy1960]

Originally Posted by mrreality68

Others pretty much said it but it is better for you to sell at auction than selling to the auction.
If you sell it to the Auction house they will only give you 70% to 80% of what they perceive market value of your cards are and you send to them before you get paid.
You should you Facebook, Instagram, or this forum to find people that might want to buy your collection in whole or part.
Regardlesss good luck

Jeff,

Thanks! I'm realizing the AH is the route to go, but will still look for a direct buyer, which will be much more limited. I know an AH will give it much more exposure.

[SyrNy1960]

Ok, so let me be more specific. I'm considering selling my Alex Rodriguez 1st Career Grand Slam Bat. His 25th Grand Slam Bat sold in Heritage Auctions for $20,5000. His 1st should do well, as collectors like the early stuff, especially if part of an All-Time Record.

I've never had any experiences with an AH. However, I've heard of many bad experiences, so I'm hesitant; but I also know not all are bad. I also heard negative stories (behind the scenes) from someone who worked in an AH, which makes me less trusting. Maybe that's something I just need to get over. I know it would do well in an AH, but prefer just to make the sale and be over with it. Ah, the things we have to struggle with.

I think because I haven't traveled the waters via AH, I'm very hesitant.

Appreciate all the responses! You guys are the best!

Tony

[SyrNy1960]

Randall, thanks for the insight. It helped me decided to go in the direction of an AH. I'll see how it goes. Thanks! Much appreciated!

[Schlesinj]

As an option, you can get a cash advance from some of the auction houses and then let the market make up the difference. Clearly, they will build in the fluff they are comfortable with paying you.

They will calculate the cash advance and maybe it fits within your accepted amount plus you get upside post sale.

[SyrNy1960]

Originally Posted by Schlesinj

As an option, you can get a cash advance from some of the auction houses and then let the market make up the difference. Clearly, they will build in the fluff they are comfortable with paying you.

They will calculate the cash advance and maybe it fits within your accepted amount plus you get upside post sale.

Thanks for the guidance. Much appreciated!

[MVSNYC]

There's many great Auction Houses. I've been consigning cards & memorabilia since the 90's. Can't remember a bad experience (some items will do better than you expect, some less). Your bat sounds like a great item, and should do well. I'm assuming you have a PSA/DNA LOA for it.

For memorabilia I'd contact Goldin, Heritage, REA, and LOTG. See who will give you the best deal (possibly a cash advance, and likely some of the buyer's premium, maybe you'll get 105% of hammer?). Good luck.

[SyrNy1960]

Originally Posted by MVSNYC

There's many great Auction Houses. I've been consigning cards & memorabilia since the 90's. Can't remember a bad experience (some items will do better than you expect, some less). Your bat sounds like a great item, and should do well. I'm assuming you have a PSA/DNA LOA for it.

For memorabilia I'd contact Goldin, Heritage, REA, and LOTG. See who will give you the best deal (possibly a cash advance, and likely some of the buyer's premium, maybe you'll get 105% of hammer?). Good luck.

Michael,

Thanks! I sent you a PM.

Tony

[Snapolit1]

Your item could always underperform in an auction. It does happen. Timing might suck. Or general economic jitters could take over. Or the same item could have sold twice in last month through dumb luck. In that case sale to an AH might work out better. I’d put that as a very unlikely chance here with a one of a kind item.

The real beauty of an auction is where two guys who “have to have it” lock horns and get in a bidding war. When I consign anything my hope is only that there are 2 guys who need it. Or want it. Badly. Hopefully both multi millionaires with money to burn. Don’t need 22 bidders. Most bidders put a marker down early and aren’t really going to made a hard run at it. I just want two well heeled guys in the AH session who are trying to wear each other out.

[whiteymet]

I have submitted some complete sets and other things to major AH's then find them a little later on ebay or in smaller auctions.

Specifically there is a major ebay seller with a sterling reputation here and on ebay who has bought sets of mine from an AH and then breaks up the set and sells them on ebay card by card.

I noticed it was my set and contacted them about other sets I had been thinking of consigning. They were VERY interested in buying directly as it saves them the AH buyers premiums, sales tax and shipping which can add up to close to 30% in some cases.

You selling directly to them saves you a sellers premium ( if any) and they would pay say 10-15% more than they would bid on the item in an auction in order to save the 30% if you get my drift. You just have to figure out a fair price for you and them.

Just a note, I am in no way related to any ebay seller other than myself.