Auction houses and their commissions

[Teddyrose54]

I sent a 11 items to auction.
Local auction house, no where really special, and all items sold.
I was happy about that, they all made good money.
The auction house charged 18% commission.
Since it's been years since I have done this, is that a good rate?

Anyone use local or specialist auction houses? Are the rates higher or lower?

Always best to sell on line, as it saves you money, but we are moving, so things has to go quickly to clear out.

[madelaine]

My local auction house charges

"£5 per lot entry (this also covers the internet fees- online bidding entry fee, & the photography fee for the fully illustrated online catalogue)
15% Commission ON HAMMER PRICE
1.5%. OF HAMMER PRICE- Insurance (indemnity to cover loss, damage, fire etc)"

I don't entirely agree that it is best to sell online.

For example - large items are difficult unless you are in London or the SE and high value items - customers like the extra reassurance of dealing with an auction house

There are also items which people really like to inspect before they buy or have the auctioneer describe it - when you phone an auction house and ask for a description you may be surprised by how detailed it will be. This is because they are legally responsible for that description - I only know this because I was listening to such a phone call and commented and the auctioneer explained it to me.

Because I have cleared 3 estates this century, I've done a lot of this stuff!

[victorfrank]

Commission varies, between 15% and 25%, plus VAT on the commission. Some will charge a minimum lotting fee, irrespective of if an item sells, and some may also charge for a photograph in a catalogue. Sometimes, the commission to the seller will be negotiable.

[madelaine]

Sometimes, the commission to the seller will be negotiable.

Wouldn't you need to be selling an Old Master or, at the very least, rather a lot to get this treatment?

[victorfrank]

Wouldn't you need to be selling an Old Master or, at the very least, rather a lot to get this treatment?

Probably, Madelaine. If you are a regular seller, deals can be done still, I think. Over the years, I have had many an 'Old Mistress' and I would have paid anything to get rid of them.

[maplegin]

Here in Sherborne it is 19% plus Vat. They all do seem to varey

Have in the new year to actualy put some lots in thing Madelaine is right it realy does depend what it is & also how urgent it is t sell. Think in rural areas selling large things on line is hard.

[Teddyrose54]

Yep, certainly depends on what it is and where.

I had to clear out a lot of small collectibles, so were glad to see those go.

The furniture went on line and sold, collected next day, so that was good.

Working thro such a lot at the moment.