The costs of sale depend on the sales strategy that is adopted and can be split into two parts:
- Those of the internet auction site;
- Our sales commission.
The costs of the internet auction site depend on:
- The site chosen – some sites get better results than others for certain types of plant, because of their greater reputation and database in that field. Each site has its own price structure.
- The type of auction chosen: ‘Event Auctions’ – an auction specifically for your items and no one else’s – carry an upfront cost, which can be split among several clients in a ‘Collective Auction’ while ‘General Auctions’ – where your items are included alongside those of other sellers – often do not involve an upfront cost but there is both a seller’s and a buyer’s premium. The seller pays the seller’s premium: the buyer pays the buyers’ premium.*
We will ensure that you are absolutely clear as to what the sale will cost you and when and how those costs are payable.
As regards our sales commission, we typically charge 20% of the sale price, significantly less than our competitors, and a 15% buyer’s premium, comparable to our competitors. But the fact we do not cost as much as our competitors does not mean there is any compromise over the quality of our service – we do not carry the same level of overheads as our competitors and we simply pass that saving on to you.
Where the assignment is not ‘local’, we might also charge a photographing, videoing and lotting fee, payable upfront, but in the vast majority of cases you will NEVER pay us directly – our commission on sale is deducted from the final client account when the buyer has paid.
Our sales commission is inclusive of:
- Our initial visit and assessment of your options – this is free even if you do not decide to take things forward! All we ask is you respect our time, as we do yours.
- All photography, videoing, lotting and uploading costs
- All agreed marketing costs
- Regular communication
- Proactive sale management
- Attendance at viewing days
- Cash collection costs.