Selling Oriental
Antiques and Collectables
If
you're looking to sell your Oriental antiques in the UK then maybe I
can help save you time and money...
Most people offer their
antiques
for sale through their local auction house or by using
on-line internet auction sites believing that this is where
they
will sell quickly and secure the best possible price...
This
is far from true, in fact selling through any
auction could
seriously damage
your
wealth!!!
The Auction House
When you
first contact an auction house it's normally to
obtain a free valuation, whether on a valuation day
or by arrangement you invite them into your home to appraise your
antique items.
Your
antiques are examined by a qualified valuer who will give you an
auction selling guide (the
lower and higher estimate) which is an
indication as to what the valuer thinks
your
antiques should sell for!
If
you accept the valuation
your items are collected, transfered into storage, for which there is a charge and
consigned to
a
suitable sale on some future date which could be weeks or even months
away! Once
consigned to auction you agree by default to pay an insurance fee
whilst your
items are in storage awaiting sale. This
is normally around 1.5%
of the hammer price and is to cover against
loss or damage to
your goods whilst in their
care, although if the worst did
happen you would probably only receive at best the mid-estimate figure
in
compensation!
You also
incur
a further charge for any photographs that are included
either in their sale catalogue or website. (The
average cost for
this service is
around £20)
If your
antiques
subsequently sell you pay a commission fee of
around 20% of
the hammer price although some auction rooms are now
charging much higher fees for sales below a £1000.
If your item(s) fail to sell
you could also be charged an unsold lot fee!
Finally
of course all
of the above costs
are subject to 20%
Vat
within the United Kingdom.
Always Remember
~
The auction house is there to make money ~
PERIOD!!!
To
give you some idea just how
profitable your business could be to an auction house
let's
take a look at a typical sale
based on the above...
An Oriental
vase estimated to sell between £800
- £1200
Sells
for...
£1,000.00
(The hammer price)
A photograph
was include in the
sale
catalogue, the insurance fee was 1.5%
of the hammer price and sale commission was charged at 20%
so the
selling
fees in this example would be - £282.00
inc.vat.
The
seller receives...
£718.00
But this
can take anywhere from 4
to 12 weeks to arrive, in the
meantime...
The auction house can use this money~ your money~
as an interest free
loan!!
In addition...
If you add
together the Sellers
fees £282.00*
and the Buyers
fees £240.00*
(which is
also usually 20% of the hammer price)
This gives
the auction house a gross income from this one sale of...
~ £522.00* ~
The auction
house really is
laughing all
the way to the bank!
Since
the late 1990's people have been able to offer their goods for sale
through on-line auction web sites such as e-Bay.
Whether it's those unwanted
Christmas gifts or you just need to clear the attic the
on-line
auction seems the
easiest and most profitable way to sell...
But is it?
Whilst
it's true on-line auctions attract a worldwide audience the
cost
of listing your goods on these sites can vary depending on
which
selling method you choose and unlike the auction house you
have
do do all the work yourself from opening an account, selecting
the right listing category, taking your own photographs and
preparing a suitable selling description of whatever it is your
offering.
If you're lucky enough to sell your goods you
will pay around 10%*
in commission costs which is less than the high street auction houses
but add this to your listing fees
and your profits soon start tumbling...
If your goods fail to sell you may also forfeit your original listing fees!
Remember the on-line auction is
there to make money too!
Next, you'll
need to get paid...
Depending on how you choose to receive your
payment this could cost you around 3%* of the hammer
price if
you choose to use the auction sites preferred online
payment
system PayPal
You
then parcel up the goods securely and wander down to
your local Post Office and providing you use a trackable
postal
method your goods should arrive safely with
your buyer within
a few days...
But what happens if they don't?
Lost
items:
You
would need to go back to your local Post
Office
and pick up a
claim form to apply for compensation for your
lost goods, but I'm afraid this compensation can
take anything up to 3 months
to arrive and could be less than the value of the goods
unless you paid extra
for the additional insurance cover at the time of posting!
In the
meantime you will have to refund your buyer in full...
Damaged items:
Your
goods may have arrived damaged through no fault of your own
but
claims for compensation could
be dismissed as the UK Post
Office does
not
provide damage cover for certain goods in transit
such as ceramics!
You could potentially lose everything
with nothing to show for your precious antiques or all your hard
work!
But
let's assume that all goes well, how do you know you have got the best
price
for your antiques?
Well quite simply,
you don't!
There have
been items sold on-line for just a few
pounds only to
have re-sold later for many thousands!
* Including 20% Vat
High Street Dealers
Traditionally the
high street has always been the first port of call when trying
to sell your antiques.
The high street dealer has always been there to
offer friendly advice and is always
ready to buy those unwanted heirlooms...
But are they
really the best people to sell to?
The
high street has struggled over the past few years with rents and rates
rising to near breaking point for many. Several of our well
known
high street names have already disappeared and many more will
undoubtedly follow. Their ever increasing
costs means that the high street dealer needs to make as much
money as
possible just to survive and if they can make it from your
antiques rest assured they will, for as they say in the
trade...
"The
first profit is usually the best"
Make no mistake though, if
you think that they will be sending you a bonus
payment when
they make a huge profit on your
antiques...
Think again!
Get
the best
prices for your Antiques!
Every week I
sell Oriental antiques and collectables on behalf of private clients!
I help sellers
save
£££'s spent on seemingly unfair commission costs and additional charges
applied by most auction houses across the country.
I believe that buyers
not sellers should pay all the costs of sale... (see FAQ's)
So, if you want to save
money and see more £££'s in your pocket for
your Oriental antiques or collectables then before you
consider selling Please read
this important information
Then,
if you would like any selling assistance or
maybe just some friendly advice you can e-mail
Or call me...Today!
~ UK
mobile - 07712
880650 anytime!
(24 hour answering) ~
Gary
B.
Raymer
This
site and contents
are ©
Copyright 2001-2011 Gary
Raymer.
Wirral, United
Kingdom. Established 2001
All rights are fully reserved.
e-mail:
chineseporcelain@sky.com
UK Mobile: 07712 880650