SECRETS BEHIND SELLING AT AUCTION
How long does this whole process take?
With a typical auction house*, the length of time from initially making contact to submitting your items and ultimately receiving payment can take anywhere from 30 – 70 days.
When selling to Regency Antique Books, the length of time from initially submitting your item for review until the day you receive payment can be as quick as 2 days.
How long until I get paid for my item?
Auction houses tend to submit payment after a minimum of 14 after the close of the auction. With Regency, you’ll receive your agreed-upon payment within 24 hours.
How much money will I get for my antique book?
Here’s how a sample item would fare at an auction house.
For the final hammer price of $500 for your antique book, our example auction house will then deduct a 25% seller’s premium, listing fees for photographing your book, writing a description, publishing it in a catalog, website submission and advertising fees (which can be as high as $40 – $100 per listing), plus a 9% seller’s tax.
As a seller, you’ll pay the auction house a commission, called the seller’s premium or vendor commission which is based on the final selling price of your antique book. The commission the buyer pays, known as the buyer’s premium, is also charged on that $500 selling price. To make matters worse, you’re also charged tax on the commission. These sums are automatically deducted from the amount ultimately paid to you by the auction house.
After all these fees are subtracted, you’ll be left with only 45% to 60% of the auction total – in this case, approximately $250.
Plus, don’t forget that big auction houses charge twice! Once to the seller and again to the buyer, usually at equal rates.
THE BOTTOM LINE:
Why sell your antique book to Regency?
Get the picture? We aim to take the hassle out of getting the most out of your antique book, saving you time, money and unnecessary stress. In most cases, we can guarantee that upon our positive evaluation, you’ll receive at least 65% to 75% of the fair market value for your antique book.
AuctionWhat you get:
$500 Final Auction Sale Price
- 25% seller’s premium
- 9% taxes
- Photography fees
- Catalog fees
- Unsold item charge
RegencyWhat you get:
$500 Agreed-Upon Price
- Up to 75% of fair market value
- Quick online process
- Payment within 24 hours*
- No hidden fees
- Fast and friendly service
*Based on research conducted in February, 2019 on several major auction houses including Christie’s, Julien’s, Bonham’s, Profiles in History, Heritage.