Marketing Real Estate! Selling by Auction!
Customary "Contracted" Personal Property Direct Sale Commission Rates as of January 1st, 2019 are as follows:
- 20% for lots selling $3,001 or more plus additional buyer premium of 12%. Example $5000.00 X 12% = $600 - $5600 x 20% = $1,120.00
- 25% for lots selling $1001 to $3000 plus addional buyer premium of 12%. Example $3000 x 12% = $360 - $3,360 X 25% = $840.00
- 32% for lots selling $1000/Under plus additional buyer premium of 12%. Example $1000 x 12% = $120 - 1,120 x 32% = $358.40
Definition of Reserve: A reserve is the confidential price agreed upon between the consignor (seller) and Sold Outright as the agent/auctioneer. The reserved item will not be sold lower than the reserve price agreed.
Items with Reserve Value placed by the owner: Reserve Bid Fee of 10% of the reserve price with a minimum charge of $200 on any reserved item payable in advance.
Reserve Fees on items with reserves placed by the owner may be negotiated depending on rarity, potential interest and access/location.
Costs of storage, handling, shipping costs and and other costs in returning items by Sold Outright are all costs payable outright by the consignor or deducted from any potential final payment prior to the return of the item if the personal property did not sell.
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