What You Need to Know About Antique Auction Selling Fees

Deciding to sell your antiques at auction can be very exciting. Professional auctions are a great way to get the best price for your antiques, whether you’re selling jewellery, furniture, glassware or works of art. However, there are a few important things you need to know before selling at auction, including the different fees involved with the process. 

If you're considering selling your antiques, it’s important to look into the selling fees and how much you can expect to pay an auction house. These fees can vary significantly from one auction house to another, impacting the final amount you receive for your items. In this blog, we have explored the common types of selling fees and how they can impact your auction experience. We will ensure you’re well-prepared to make an informed decision when choosing an auction house to sell with. 

Types of Selling Fees at Auction Houses

Whenever you’re selling antiques at an auction house, it’s important to be aware of the different selling fees that will impact the net amount you receive after your items are sold. Here at Hutchinson Scott Auctioneers, we ensure complete transparency when it comes to fees and we aim to make the selling process as hassle free as possible. 

As an experienced Yorkshire auction house, we will happily help you understand how much you will receive when selling your items. Generally speaking, you can calculate your potential net proceeds by deducting the fees below from the estimated hammer price. This will give you a good indication of what you can expect from your sale. 

• Antique Valuations 

Some auction houses charge for professional valuations, which can be beneficial if you’re unsure what the auction estimate is for your antiques. However, we provide a free valuation service at Hutchinson Scott Auctioneers. We can provide you with a quick estimate of your antiques, simply complete the form on our website with some basic information and clear images. We will get back to you as soon as possible with a valuation. This valuation can help you to gauge the potential sale price and estimate the associated selling fees.

• Seller’s Commission

The main antique auction selling fee to be aware of is the seller’s commission, also known as the seller’s fee. This is a percentage of the hammer price that the auction house charged for its services. For instance, our seller’s commission rate is 10% of the final bid at which the item is sold plus VAT. This fee covers things such as the cost of listing the item, marketing materials and the expertise provided during the auction process.

• Insurance Charge

It isn’t uncommon for auction houses to charge insurance fees when you’re selling at auction. This fee ensures your items are covered against potential loss or damage while they are in the care of the auction house. We only charge an additional 1% for insurance and it’s a small price to pay for the peace of mind it provides.

• Unsold Items

Many don’t realise that some auction houses also have unsold charges for any items that don’t sell at auction. However, at Hutchinson Scott Auctioneers, we don’t believe in charging for unsold antiques, so if we don’t find a buyer for your item, you won’t be out of pocket for simply attempting to sell your antique. Since there are no fees for unsold items at our auction house, it may be worth setting a realistic reserve price. This price is the minimum you are willing to accept, ensuring the antique doesn’t sell for less than its worth or incur unnecessary fees.

• Collection Service

If you require assistance getting your items to the auction house, you will need to consider the costs associated with collection services as well. Typically, these costs can either be deducted from your sale proceeds or charged directly by the collection company. A convenient collection service helps simplify the auction process if you don’t have any way to transport your antiques. Consider these costs when planning your sale to ensure you can still make a profit. 

Selling Antiques at a Yorkshire Auction House 

The various fees associated with selling at an auction house can significantly impact the overall profitability of selling your antiques. Understanding antique auction selling fees and factoring them into their budgeting is vital for anyone looking to sell their items through an auction house. By knowing these costs upfront, you can set realistic expectations and price your items accordingly to ensure you are happy with the net proceeds.

If you have any questions about the fees we charge at Hutchinson Scott Auctioneers, don’t hesitate to get in touch with our team. We pride ourselves on our transparency and customer service, helping sellers navigate the auction process with ease and confidence. We will be happy to provide you with any additional information you may need before deciding to sell your antiques at our Yorkshire auction house.