Quote:
Originally Posted by jjbond
Being new to consignments....is this how it works? Say you send a card to an AH, and it sells for $2000. You'd get something like 105% or 110% of that? (and nothing else out of pocket?). And so auction houses just make their $ on the remainder of the BP?
(And do sellers set minimums....or the AH?....or do you just trust enough eyes get on your card that it reaches projected market value?)
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Nope. Not how it works. Run of the mill stuff from a one-off consignor, you are not going to get a great deal. If you are a good consignor (regularly consign good material that sells for a cumulative four-or-five figures a year) or you are a good customer who spends a good amount with the house, you should bargain for zero commission--you get 100% of the hammer price, the house gets the buyer's premium. You can also get a good deal if you are an influencer or a referral from an important customer or consignor and the house considers it a good business move to take less. If you are offering a really great (expensive) item, that is when you can bargain for a guarantee (a number you will get paid regardless of the sale price) or for a piece of the BP. If I had a T206 Wagner, for example, I would insist on the greater of a guarantee or 115% of the hammer price.
Guarantees and % above the hammer price are all a matter of leverage. Your $2K item is not going to get you the leverage to ask for these things. Your $2 million card, you can probably get anything you want.
I don't begrudge the house making a living; people gotta eat. I do get ticked off when Mr. Private Jet has to jack up his cut to feed his lifestyle.
05-24-2024, 10:48 PM
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