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Understanding

Introduction to Auction Estimates and Consignment

Most specialty resale venues offer free ballpark auction estimates for high-quality antiques and collectibles. These estimates are offered at no charge because auction houses and galleries hope you’ll consign your item with them, allowing them to earn a commission on the sale. However, it’s important to note that ballpark estimates are not suitable for estate settlements, insurance purposes, or other formal valuations. For more details on auction estimates, explore this helpful article 🔗 by PBS Antiques Roadshow.

Verifying Specialist Credentials

Accurate estimates require highly specialized knowledge. Therefore, it is crucial to verify the credentials and customer ratings of specialists in your item's category before reaching out or sharing your contact information.

Obtaining Multiple Estimates

Experts recommend obtaining multiple estimates from different specialists. This allows you to compare valuations and reach a consensus on your item's value before making a commitment.

Understanding Auction Fees and Consignment Process

Before consigning your item, it's vital to understand the fee structure of auction houses. This includes both buyer’s premiums and seller’s commissions, which will impact the total cost of the auction services.

The Importance of Provenance and Documentation

Documenting your item's history and authenticity—known as provenance—can significantly affect its appraisal value and final auction price. Ensure all relevant documents are gathered and presented during the valuation process.

Selecting the Right Auction House

When choosing an auction house, consider its specialty areas, market reputation, and past auction successes. Selecting the right auction house is essential for achieving the best sale outcome for your items.

Current Market Trends

Stay informed about the latest trends in the antiques and collectibles market to maximize your returns. Regularly visit the social media pages of specialty auction houses and read well-regarded trade magazines to familiarize yourself with current prices and popular items.

Legal and Insurance Considerations

Be sure to understand the legal agreements involved when consigning items to an auction house. Also, ensure your items are insured against damage or loss during transit to and from the auction house, as well as throughout the auction process.

Further Resources

For more detailed information on each of these topics and to learn more about the verification process, click here. Explore additional resources to deepen your understanding of the auction world and how to navigate it successfully.