So, you’re shifting locations. You’ve hired an Auburn moving company and have already set the date. But before moving, you’re planning to downsize a little and save costs, and you decided some of your antiques would be the ones to take the cut.
Selling antiques and collectibles can be a great way to make some money to fund the move or even make repairs in your new home. To do that, auctioning houses is a great choice. Before picking an antique to sell, here’s everything you need to know about the process.
Things to Consider Before Consigning with an Auction House
Check Their Commission
Most auction houses charge a commission, usually a percentage of the money you make selling the piece. A fair commission is around 20%, but if you have many valuable objects, you could bargain to reduce that to 10%. You can later use that money to help with your moving budget.
If you have a very special piece, like one from a unique designer, they may even charge you nothing. They may also charge the buyer, so they’re still making money.
Ask About Authentication Costs
Auction houses won’t risk selling an object without knowing if it’s legit or not, so they’ll conduct an authentication first. If it’s conducted by a certification company, they may add it to your bill.
Ask auction houses about the costs beforehand, as you wouldn’t want to encounter a $100 authentication cost for a $10 piece.
Ask About Hidden Costs
Some auction houses charge a fee for storing your goods if they’re not sold. They also have insurance costs. So make sure to ask about that beforehand, especially if you have large items, and don’t forget to read the contract carefully.
Set a Starting Price or Reserve
A reserve is the minimum price at which you are willing to sell an item. Auctioneers won’t be able to give you an actual appraisal for your items, but they can offer an estimate. Still, there’s no guarantee this one will be met.
If you’re worried about losing money, set a reasonable starting price or agree on a reserve. Auctioneers don’t generally like reserves, but you can try to bargain for one.
Find an Appropriate Auction House
If your object or collection is unique, try to find a company that specializes in that type of item. For example, sports collectors should go to sports auction houses. You wouldn’t want to bring a signed cap to a furniture collector!
More general auction houses tend to hold themed auctions, as these will attract more bidders. Ask them about the schedule beforehand. Keep in mind that all your items might take longer to sell if you follow this pattern, but it may offer the best revenue.
Find an Auburn Moving Company to Move Your Valuables
Any auction house will ask you to send photos of the items before anything else. If they’re impressed, they would want to see the items in person. To ensure safe travel for your antiques, you may want to hire an expert moving company.
Here at Pink Zebra, we have experience packing and moving antiques and collectibles. If you’re interested in learning more, find a location near you, and give us a call!