Consignment and Hosting an Auction
What is consignment?
Consignment auctions have items from many different sellers, unlike your traditional liquidation or auction which contains personal possessions from only one business or estate.
Why would an auction work for me?
Whether you’re navigating a relative’s estate, downsizing a business or liquidating a lifetime of collectibles, an auction is the right solution to turn your assets into a profit. In the rapidly expanding market, virtually any real estate and personal property can be sold at auction. But that’s not all, intellectual property and mineral rights can also go to the highest bidder.
What’s the difference between a starting and reserve bid?
A starting bid is the minimum bid you’d like guests to begin at. We mainly reserve this for the most expensive and exceptional pieces to ensure you get the best price.
A reserve bid is the lowest bid you’ll accept from a buyer. It’s a price only known by you, the consigner, and your trusted team at Auction Solutions Inc. Keep in mind if the item doesn’t sell for that price or higher, you’re still obligated to pay the commission.
How will I know what items are sold and what people pay for them?
Auction Solutions Inc. captures your sales in real-time using advanced computer technology. We can pre-catalog your sale or enter each item as we go. Either way, you’ll receive a detailed, line-by-line report of your total sales dollars.
When do I receive the funds in my account?
As a consigner, we’ll send you an initial statement within three days following the auction’s close. You’ll receive your winnings between 14 to 21 days afterward.