When it comes time for you to get rid of something worth a certain value, you can sell it outright to someone or you can determine whether or not you want to auction it off. There are so many different auction houses to choose from around the world, and each of these auction houses has different criteria on what they will take in for consignment. High end auction houses like Christie’s or Sotheby’s will not take consignments under a certain value. Mid to low range auction houses will handle a lot more of your general type auctions. Either way, you’ll need to find the right auction house for you and whatever you’re selling.
First, find out what the auction house has to offer you. Things that you’ll want to consider are that you want your items to receive the best exposure and the best price. If your items do not receive proper advertising, then no one will be interested in buying them. Also, you will want to take into account the seller’s premium, which is the price or percentage that the auction house will take in for selling your items.
Furthermore, you should take into account how long it will take for your items to get to auction as well. Primarily, this will most likely depend on your personal situation. Auction houses have basic schedules they create for the year and add in auctions where need be. This can make your wait time anywhere from a month to 12 months, so take into account where you’ll receive the shortest wait time.
Finally, know about what the auction house requires when you’re cosigning them your items to sell. Ask when the payout for the items will be, and remember to get an itemized list of the items you’ve given them to sell before you leave the auction house. If your items are not selling or you become uncomfortable with how your items are being handle, you can always withdraw them from the auction house at a later date.