Selecting the right auctioneer is a very important yet difficult decision. Keep in mind that you are selecting someone to represent you. Good results at auction don't just happen, they are the result of top professionals.
The following is a list of questions to ask when hiring an auctioneer. Often, there are sensitive family issues surrounding an auction, You should always feel comfortable with, and certainly trust your auctioneer. We recommend asking your potential auctioneer about all of these, even better is a written proposal explaining the auction process, terms, responsibilities, etc.
- Are you licensed under the state of Wisconsin to perform auctions?
- Is a written auction proposal that completely explains the services, including
an auction budget, a timetable, sellers responsibilities, and the Auctioneers responsibilities
provided?
- Are there any hidden costs that won't be in the auction budget?
- Do you use a buyers fee, and if so how are the proceeds of the
buyers fee being used.
- Who will know the results of my auction and are these results strictly confidential?
- Can you provide a list of references that you have conducted auctions for?
- Do you belong to the local state and national auctioneers association? The Wisconsin and National Auctioneers Associations are committed to the advancement and professionalism of the Auction industry. They provide training and seminars, ethical guidelines, continuing education for licensure, etc. Be sure your auctioneer is a member.
- How will you advertise my auction?
- Newspapers (locally/multi-state/nationally)?
- Mailing lists?
- Specialized collector lists?
- On the Internet?
- What happens if something gets damaged?
- How soon after the auction will I receive my payment?
- What is involved with setting up for the auction and who is going to
do it? What does this cost?
One note on consignment percentage, be sure to consider who will achieve the best price for your item(s). While it is very common to search for the lowest percentages charged to sell your item(s). Keep in mind that if Auctioneer A sells your item for $75 and charges you 15% you get $64 back, If auctioneer B charges you 20% but sells your item for $85 you get $68 back. Often just one more bid increment can make up for what seemed like a better deal. Just as in anything else in life, you get what you pay for. Be sure you're not selecting the cheapest, but the best auctioneer you can.
Document provided by Bailey's Honor Auction Service