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Antiques Appraiser. Buying & Selling Antiques. The Art of Quality, dealers of antiques and collectibles, and house clearance specialists, buying and selling across London and the Home Counties including Silver, porcelain, jewellery, furniture, paintings, bronzes and anything old and interesting.

SHOULD I SELL AT AUCTION OR PRIVATELY?

It isn't as difficult a dilemma as one might think: What is it you are looking to sell?

An auction is ideal if you want your item offered to a wider audience. Auctions are suited to items that have a subjective value or are of a comparatively low value

Private sales will benefit items with an objective value, or where a direct comparison with previous sales can be made.

CONSIDERING SELLING AT AUCTION?

Points to consider when considering selling via the auction process;

POSITIVES

+  Items are marketed globally using online auction platforms like the-saleroom.com

(not all auction houses offer this global reach)

+  The price is not fixed and therefore can achieve any amount

+  Reserves can be agreed so the items do not sell for lower than expected

NEGATIVES

Auction houses benefit from both seller and buyer, by charging both a commission, so the difference between what the buyer pays and what you receive can be up to 45% - 50%

– If an auction house misdescribes your items then they are likely to be undersold or unsold

– If the auction does not reach the right market coverage then your item may sell for considerably less than it should

– There can be many months gap between sending the item to auction and receiving payment following the sale

SHOULD YOU SELL PRIVATELY

Points to consider when deciding to sell privately:

POSITIVES

+  You agree on the price you are looking to achieve

+  You potentially could receive up to 35% - 50% more than if the items were sold at auction

+  Once a buyer is found the entire process normally takes on average 3 - 5 days from accepting an offer to receiving payment

+  Private and good trade buyers can be temperamental and much prefer buying "fresh stock" items that have not done the auction rounds

NEGATIVES

The sale price is agreed and fixed, at auction, the price can get chased up and "the rush of the auction" can grip buyers and drive up prices, but it can also sell for substantially lower, unless a reserve is set. 

 

The error made by many is that if selling via auction they will approach their "local" auction, because that is easy. However, every auction whether a specialist auction or not will have better results in some areas, but maybe not in others! 

For instance, there are preferred auctions for selling silver but would not do potentially as well with jewellery or paintings. Paintings might be best sold in a West Coast auction or one in Scotland? Knowing where and which auction houses might help you achieve a more favourable result, there are no guarantees, but we are familiar with most of the auction houses as this is what we do on a daily basis. 

We can assist you if selling at auction is the route you wish to go

  1. We provide a valuation of your items either based on images sent via email or following a home visit.

  2. We advise on which specialist saleroom is best suited to handle your items after researching the best potential outlets

  3. We arrange to consign the item/s from you and issue you with a receipt and a contract.

  4. We arrange delivery to the saleroom/s and can arrange a minimum sale price (a reserve) for you.

  5. Following a successful sale, you will receive a cheque for the proceeds directly from the auction house.

 

We charge 10% of the final selling price of the items for sale (This does not include actual auction costs which may vary) If the items do not sell there is an admin fee payable to cover our research/logistics/expertise.

PLEASE NOTE: Our fees are sometimes met by a number of the auction houses we are associated with, depending on where your items sell. If that is the case there will be no charge to you.

PRIVATE SALES (BROKERED SALES)

  1. We provide a valuation of your items either based on images sent via email or following a home visit.

  2. We offer the item to our private and trade contacts and we will put forward the highest bid we receive to you for your approval. 

  3. We arrange to consign the item/s from you and issue you with a receipt and a contract. 

  4. We will deliver the item to the buyer and complete the transaction. 

  5. Payment is sent to you via BACS or cheque within seven days of the transaction.

COST

We charge 30% of the total sale price for private sales, any delivery/packaging costs to be met by you and/or the buyer.

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