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What is consignment?

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.

What are the standard terms of a consignment agreement?

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.

Am I responsible for shipping my item to the auction house?

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.

When do I get paid?

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.

How much does an auction house usually take in commission?

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.

How much does it cost to consign through Mearto?

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.

Why should I consign through Mearto?

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.