Experienced submitters of auction consignments: at what level of consignment value is it appropriate
pharmer
Posts: 8,355 ✭
ask auction house for zero percent sellers fee, rather than 5%?
$10,000-25,000?
$25,000-50,000?
$50,000-100,000
$100,000 and up?
Serious inquiry, thanks in advance.
$10,000-25,000?
$25,000-50,000?
$50,000-100,000
$100,000 and up?
Serious inquiry, thanks in advance.
Quis custodiet ipsos custodes?
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
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I know that some auction houses are more discriminating that others. Those are really scrapping for consignments, esp to smaller auction venues. For an ANA show or prime time FUN for example, you might have to up the consignment number up a bit.
Some houses are giving 0% for as little as $20K to dealers. Actually I gave some coins to a dealer friend who was getting +3.5% (net 90% of the total value) for a $20K consignment. But you get what you pay for. The coins didn't fetch as strong as they should have for the venue and the descriptions were sparse. In a better venue at 0% the end result could have been improved. But it was still acceptable. That same house offering the +3.5% did get some coins regraded for me that I was not able to do. More pull in the right places as I see it.
Frankly I don't think anyone should settle for less than 0% in this competitive auction environment other than for summer ANA primetime. If you can't get it, there are dealers (banned ones too) who can probably arrange that for you.....if not a better rate than 0%. Auction houses like to divide and conquer. Imagine if all the consignors pooled together under one primary dealer. I would guess Stacks and Heritage ask the stronger rates with B&M, and Goldberg's next in line. But that's just a guess. After those 4 I don't pay attention.
roadrunner
<< <i>ask auction house for zero percent sellers fee, rather than 5%?
$10,000-25,000?
$25,000-50,000?
$50,000-100,000
$100,000 and up?
Serious inquiry, thanks in advance. >>
It depends on the auction house. Some will be very liberal with their seller's fees and others tend to be quite resistant to lowering it on consignments under 100k. Remember the seller's fee isn't everything, the real bottom line is how big your check will be on your settlement date. If an auction house can get 10-15% more for your consignment than another house, it seems like paying a little more in the way of seller's fees is a fair tradeoff.
--Thomas Jefferson
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."