If your item is eligible for Mearto's consignment concierge service, i.e. you've indicated an interest in selling it and one of our appraisal specialists has estimated it's minimum fair market value to be $5000 or more, you will be contacted directly by Mearto representative with further instructions and information about the consignment process. If your item was not valued at $5000 or more, but you would like to benefit from this service, please contact: [email protected] Exceptions maybe made for items that are values close to the "cut-off" of $5000
Consignment refers to the process of authorizing a third party - usually an auction house - to sell your item in exchange for a commission, or percentage of the final, price, also known as the hammer price. The benefit of consigning with a reputable third party is that your item is advertised to a large group of prospective buyers and you may get a much higher price than if you tried to sell the item on your own.
In addition to specifying the commission rate and relevant fees for the auction house, the consignment agreement might also establish a reserve or minimum price that you want to set for the item. It will also spell out terms for the transport and storage of your item.
It depends on the auction house, but typically... yes. You assume responsibility for the transportation of your item, which means that you also have to purchase adequate insurance. Be sure to ask if the auction house insures the item while it's in their possession and if you are responsible for return shipping if the item does not sell.
Again, this depends on the auction house. Most wait until the buyer's payment has cleared, so you may receive your check 30 or 45 days after the sale. This should also be specified in the consignment agreement.
This can vary from 0% to 50%, based on the reputation of the auction house and the quality and value of your item. To get the best offer, we advise contacting more than one auction house. If you consign through Mearto, our partners compete for your item. We are happy to help you consider various offers and choose one that makes the most sense for you.
For our customers who have purchased an online appraisal from Mearto, consignment services are completely free! You pay the commission rate and fees set by the auction house of your choice and - if your item sells - we receive a small percentage of the sale price from the auction house.
In a word? Convenience. We can send your item to multiple auction houses with the click of just one button. In this way, you can compare offers side-by-side and choose the auction house with the best consignment terms. Our online appraisal gives our partners confidence in your item's value and we provide support throughout the process, so that you have a helping hand - whether this is your first time selling at auction, or you are a seasoned professional.
If your item is eligible for Mearto's Marketplace, i.e. you indicated an interest in selling it and the asking price is between $50 and $4999, it will be automatically entered for a period of up to 30 days. You will receive an email notification each time you are contacted by an interested buyer and be able to respond through our online messaging center.
No, you do not have to purchase an appraisal. However, it is strongly recommended that you do for a few different reasons. The dealers and professional buyers who access our marketplace prefer to purchase items that have been reviewed by one of our specialists. Appraised items rank higher and are more visible in the marketplace. Also, the purchase of an online appraisal includes a specialist’s suggested asking price.
The suggested asking price is provided by a Mearto specialist when you purchase an online appraisal. Though you do not have to accept our suggestion and will be given a chance to enter your own asking price before your item enters the marketplace, it has been calculated to increase the likelihood of your receiving offers.
The business model of most dealers and professional buyers is to purchase items, then “flip” them for a higher price. To be profitable, their offers need to be lower than the fair market value. The suggested asking price is meant to be a reasonable starting point for your negotiations with the buyers on our marketplace. However, you can expect to receive offers that may be even lower than this price.
No. You may consider any offers that you receive, but are not obligated to accept. Most items remain in the marketplace for a period of up to 30 day before they are automatically removed. If your item has not sold in this timeframe, please feel free to reach out to us at [email protected] to discuss other options that may be available to you.
You are responsible for shipping the item to the buyer, purchasing adequate insurance and requiring a signature upon delivery.
To increase trust on both sides of the transaction, Mearto collects and holds payment from the buyer. The payment is released to you once delivery is confirmed by signature.
A buyer may return an item for any reason within 30 days of purchase. However, in this case, the buyer is responsible for return shipping, insurance and requiring a signature upon delivery. The item must be returned within 30 days of making the return request and the buyer will receive their refund only when delivery is confirmed by signature.
It is entirely free to list your item in the Mearto Marketplace. However, if your item sells, Mearto will take a 7% transaction fee.
Items that have been in the marketplace for 30 days may be removed automatically. We will also remove any item that we believe to be a fake or forgery. If you repeatedly list items believed by our specialists to be fakes / forgeries or violate any of our other terms and conditions, your account will be suspended indefinitely.