How to Deal in Antiques by Fiona Shoop

Author:Fiona Shoop
Language: eng
Format: epub
ISBN: 9781848035706
Publisher: Constable & Robinson

Do Auction Houses Charge Fees?

If you want to sell goods at auction you need to be aware of three basic fees:

♦ Lottage – this is the fee charged just to enter your goods into auction whether they sell or not. Not all auction houses charge lottage but most do.

♦ Commission – the percentage charged on each sale. Some auction houses will charge VAT (20%) on top of the commission – that’s VAT for the commission, not the selling price.

♦ Insurance – around 1% but not charged by all auction houses.

If you want a photograph of your lot included in the catalogues used at the better auction houses, this might cost extra but will significantly improve sales for higher quality or rare lots. If you look at The Antiques Trade Gazette, you’ll notice that many of the auction houses use photographs in their adverts – this is a very good way of attracting buyers not only nationwide but overseas as well. If you get the chance, ask for photographs to be included in the catalogue and ask if they will appear in their advertising as well.

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