What Is Christie's Minimum Consignment Value

According to Christie's CEO Steven Murphy, the company's 80 collecting departments handle goods priced as low as $200. This indicates that there is no specific minimum consignment value set by Christie's, as they are willing to handle items at varying price points.

1. What Percentage Does Christie's Take
2. What Is the Minimum Consignment Value for Sotheby's
3. What Percentage Should I Take for Consignment
4. What Is the Best Consignment Percentage
5. Useful Tips for Consignors
6. Conclusion

What Percentage Does Christie's Take

When an item is sold at Christie's, the seller is charged a commission fee. If the item sells for over the high estimate that was agreed upon, there will also be an additional 2% Performance Commission fee. However, the seller may also be charged for other external services such as shipping, restoration, and framing. It is important to note that these additional fees will be discussed and agreed upon with the seller beforehand.

What Is the Minimum Consignment Value for Sotheby's

Sotheby's offers complimentary estimates for each item that meets a minimum consignment value. The minimum consignment values vary depending on the location. For example, in New York, the minimum consignment value is $5,000. In London, it is £3,000, and in Hong Kong, it is HK$40,000.

What Percentage Should I Take for Consignment

The consignment fee percentage varies depending on the consignment shop and the item being sold. In general, sellers may expect to concede anywhere between 25% to 60% of the sales price in consignment fees. It is important to consider the value of the item and negotiate the consignment fee accordingly. Additionally, consignment arrangements are typically in effect for a set period of time, and if a sale is not made within that time, the goods are returned to the owner.

What Is the Best Consignment Percentage

Determining the ideal consignment percentage can be subjective and depends on various factors. However, most trade analysts agree that a fair consignment percentage split in today's market is 60:40 in favor of the consignor. This means that the owner or maker of the item receives 60% of each item's selling price, while the consignment shop receives 40%.

Useful Tips for Consignors

1. Research different auction houses and consignment shops to compare their commission fees and services.
2. Consider the value and uniqueness of your item when deciding on a consignment shop.
3. Negotiate the consignment fee with the shop based on the estimated value of your item.
4. Discuss and agree upon any additional fees, such as shipping or restoration, before consigning your item.
5. Understand the consignment agreement and the duration of the consignment period.
6. Keep track of your consigned items and their status, including any potential sales or returns.
7. Stay informed about the market trends and prices in your specific category of goods.

Conclusion

Determining the consignment terms and fees for selling valuable items at auction houses or consignment shops is a crucial step for both sellers and consignors. Understanding the minimum consignment values, commission percentages, and additional fees associated with different establishments can help sellers make informed decisions. It is advisable for sellers to research and negotiate the consignment terms to ensure a fair and satisfactory outcome.