If you have property you wish to sell at auction, the High Noon team can help you through the process.
Selling starts with an estimate of valuation. Our experts can accurately identify and determine the current market value of your property, whether for private sale or at Auction. When you turn your property over to an auction house, this is known as consignment.
To schedule a complimentary, confidential auction value appraisal, please call 310-202-9010 or mail or email photos of your items to:
9929 Venice Blvd.
Los Angeles, CA, 90034
If you agree that your item is to be included in an auction, both you and the auction house sign a contract. The auction house will accept the property and provide photography and insurance, with the costs sometimes as part of a flat percentage fee and sometimes charged separately.
The seller contract covers two important issues that will affect your bottom line: the reserve price and the auction house commissions.
The reserve is the confidential minimum selling price to which a consignor (you) and the auction house agree before the sale - your property's "floor" price, below which no bid will be accepted. If bidding on your item fails to reach the reserve, the auction house will not sell the piece and will advise you of your options. It is important to consider the reserve price in light of the fact that auction houses may assess fees and handling costs for unsold lots. Generally, no reserve may be changed (except lowered) after the catalog has been printed.
Sellers pay a commission that is deducted, along with any agreed-upon expenses, from the hammer price. There will be a consignment agreement, the terms of which will be agreed upon by both parties.
The auction house can help you arrange to have your property delivered. As the consignor, you are responsible for packing, shipping and insurance charges.
Auction houses will send payment within a reasonable amount of time, usually 30-45 days after the sale. Included will be a list of the final hammer price for each item you consigned.
Lots offered for sale are auctioned in numerical order as they appear in the catalog. The lot being auctioned is announced by the auctioneer, as well as shown live or illustrated on a screen at the front of the saleroom. Bidders are advised to have the auction catalog in hand during the sale for reference because the catalog takes precedence over the screen if there are any technical difficulties. And the auctioneer makes final decisions with all issues.
Property to be consigned for a forthcoming auction should be delivered the auction house. Their staff is at your disposal to help arrange the delivery of property.
For items sold at auction, sellers often receive a Preliminary Consignment Form outlining any reserves and commission percentages for property included in the sale.
Sellers receive a Final Consignment Form indicating the outcome of the sale of their property, together with their consignment payment.
Please refer to the Consignment Terms in the catalog or the website of any auction house for further information.
More questions? You may contact us through email at: email@example.com, or call High Noon at 310-202-9010.