A commission of 10 to 15% is typical for this profession. Depending on the offer, they can also receive bonuses. Christie's charges a one-time seller commission fee for the services we provide. The commission is calculated for each item as a fixed percentage based on the final price of the hammer in the auction.
This fee includes marketing costs and insurance coverage (except for wine sales, where marketing and insurance are charged separately). If your item sells above the high estimate we agreed with you, an additional 2% performance fee will also apply. Being an auctioneer or holding auctions is fun, rewarding and, when done correctly, a profitable business. The question that many people ask is how are auctioneers paid? Many people are surprised to learn that an auctioneer is a full-time job.
How and how much an auctioneer is paid often depends on the type of assets or goods they sell. You may end up with almost as much as you get. With an auction, most items are sold. If there are leftovers left, we can hire them to take them to the trash or to donate them, leaving you a house clean of brooms.
With an auction, there is no price, everything goes to the highest bidder. These costs include building rent, heating, 26%, air conditioning to make customers feel comfortable during the auction, auction software (to track items for both seller and buyer), advertising, marketing, staff salaries, installation of the auction house, time spent taking pictures and creating online catalogs. for the auction and general maintenance of electronic equipment. A local auctioneer can give you an idea of what they think an item you own will sell at auction.
While there, ask the auctioneer how sales are promoted (best is online, in newspapers, and via email) and whether they are simultaneously broadcast online. Not all auction houses charge a premium to the buyer, however, more and more auction houses choose to charge a premium. With Locate Auctions' extensive database, you can search machinery auctions to find all varieties of machinery sold, including heavy agricultural equipment and warehouse equipment. Auctioneers detail the type and scope of work to prepare and market assets for sale beyond what it costs to hold an auction.
In real estate and personal property auctions, an auctioneer may collect both a commission from the seller and a premium from the buyer. Take some pictures of the possessions you want to auction and write detailed descriptions that you can share with potential auctioneers. However, many members of the auction community consider it an unreasonable extra charge on the part of the auction house because they don't fully understand why they are being charged. If your auction house offered a better offer than anywhere else and you didn't charge the buyer any premium, you would tell me: “I can keep more of the final sale price, and buyers will be more likely to bid on my item because they aren't paying additional fees like they would at the So and So.
Aggregate price data from online auction sites such as eBay and classified sites like Craigslist on hundreds of thousands of used products, including small appliances, bicycles, cell phones, computers and accessories, musical instruments, photo and video equipment, sporting goods, and video games. A buyer's premium appears to be a way for an auction house to extract its operating costs from buyers, which, no matter how they present it, is still a way to increase their profits by charging their buyers with the cost of doing business from the auction house. .