The Chinese and Asian Art Forum. For Fans, Collectors and Dealers.
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Hello Guys,
Good morning. I am at this stage where I would like to declutter some of my pieces. What would be the best option for me.
1.) How much would a dealer normally take as a commission ? If the piece I own has any worth, one thing I am happy about this is that the product has some sort of provenance ( I see my self as a foster parent of any antique piece after which it gets passed on to the next person).
I am sure there are severals dealer here in the community based in Australia). How does this work ? Does it work on a consignment level ? or it is bought outright from me then resold by the dealer ?
2.) Auction - auction house can take commission around 22%. I guess sometimes you can be lucky and get someone who pays a lot more than what you expect. There is also less legal resposibility in terms of stating date of the products right when it comes to auction ?
3.) Advisory service - Is there a service as such here in sydney ? How would this system normally work ? I heard this is only for big time collector but how about for people like me who does not want to spray his money around on a hit and miss basis ?
I am just curious....
Al
I can't speak for Australia, but in California dealers usually take more than an auction house premium to sell on consignment. They will also offer less for a piece than you would get on ebay. However, if the dealer you purchased a piece from is still in business, good dealers will often work with you to get the piece sold for a lesser commission.
This would be an excellent topic for one of Peter's tutorials
The one rule of selling is that you should know in advance of selling what the market value of your items are worth. Do not rely exclusively on the seller/buyer to put a price on it, or more than likely, you will be left feeling remorse that the sales result might not have been in your favor.
So, I recommend you get a 3rd party appraisal both authenticity and monetary value, if your collection has any significant value (over $5,000). A person who can not tell if your items are genuine or not, should not be giving valuations (this happens alot, too). Personally, I value qualified authentication above monetary valuations... there are plenty of venues online to verify value once you know your item is the real deal.
DO NOT USE COMPANIES/PERSONS THAT OFFER FREE APPRAISALS!
Buyers that offer FREE appraisals generally do so to get their foot in the door... most people perceive having someone come to give their FREE opinion is a harmless act, then find themselves selling to that same person without doing their due dillegence by verifying if the information on age/value is accurate. This happens because by human nature, we generally try to reward other's generosity, but what is actually happening is that you are simply playing into the hands of a deceptor. It is a SHAMELESS technique, very unethical, but extremely widespread.
Just to be clear, this is not the same as having a buyer show up at your house to make an offer to buy your collection - there is nothing wrong with that. You are aware the buyer is there to purchase goods at a price that allows them to make a profit, and if you feel their offer is sufficient to meet your financial needs, then there is a fair exchange of goods for cash compensation. I call that good old capitlism.
Once you know what your collection is potentially worth, you have to decide on your bottom line... what do you need to sell it for. Your time frame for selling is an important factor in making this decision.
Let's hypothetically say you have a collection of 50 items that all have similar appraised values of $2,000... total of $100,000 potential value.
If a dealer offered to take all 50 pieces for $25,000 cash on the spot, and will take the items immediately (you don't need to photograph, pack, or ship), would that be reasonable to you? When there is an urgency to sell (emergency, sale of home, or other type of situation for rapid liquidation), this kind of transaction might be ideal for you.
Let's say your situation is not so urgent... you have months (or maybe a year) before you need to get rid of your collection. Generally, auctions are the best choice for items that have true collector's appeal, while consignment shops might be a better choice for items that have more of a decorator's appeal. In either case, you'll end up with 40% to 75% of the potential value depending on the deal you have with the seller.
Finally, if you sell it youself direct to other collector's (not to dealers) using Ebay or selling at shows, you will maximize your profits... maybe 75-90% of the potential value, but there is an expense of time, credit card processing fees, packing/shipping costs, and the risk of damage or returns.
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Topics and categories on The BidAmount Asian Art Forum | Chinese Art
Kangxi vases, Kangxi dishes and chargers, Kangxi ritual pieces, Kangxi scholar's objects, Qianlong famille rose, Qianlong enamels, Qianlong period paintings, Qianlong Emporer's court, Fine porcelain of the Yongzheng period. Chinese imperial art, Ming porcelain including Jiajing, Wanli, Xuande, Chenghua as well as Ming jades and bronzes.
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The BidAmount Asian Art Forum | Chinese Art
A free Asian art discussion board and Asian art message board for dealers and collectors of art and antiques from China, Japan, Korea, Thailand, Cambodia, Vietnam and the rest of Asia. Linked to all of the BidAmount Asian art reference areas, with videos from plcombs Asian Art and Bidamount on YouTube. Sign up also for the weekly BidAmount newsletter and catalogs of active eBay listing of Chinese porcelain, bronze, jades, robes, and paintings.
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