Are most unsold lots at major auctions dealer consignments?

291fifth

Do the owners of these unsold lots have to pay fees to the auction company?

Longacre

From what I'm reading, there seems to be loads of dealer consigments. I assume they get some sort of deal on the buy-backs, though.

Barry

There are reserve fees for unsold lots, generally a small %age of the reserve. However, these fees are negotiable, down to zero sometimes.

ER

I dunno, but, for stuffs that I track, they seem to languish on dealers' websites for a long time, pop up at auctions, and end up back on the same websites.