In consigning property, the seller retains ownership until the sale of the item(s) at auction. When property is consigned to auction, we devote the expertise of our specialists and professional staff to achieve an outstanding price at auction. This is achieved in many different ways: direct mail marketing, Michaan's email notification, LiveAuctioneers email notification, advertising in local publications and trade papers. Each client has a signed contract stating our conditions of sale, commission rates and fees.
For our services Michaan's Auctions will retain a commission on the final hammer price of each lot sold at auction, calculated as follows:
- 10% of all individual auction lots selling above $7001
- 15% of all individual auction lots selling between $3501 - $7000
- 20% of all individual auction lots selling between $1001 - $3500
- 25% of all individual auction lots selling between $201 - $1000
- 35% of all individual auction lots selling between $1 - $200
After you consign property you will receive a listing of the property we have received which includes a full description and the estimated price range. If your property is scheduled for an Estate or Fine Auction detailed photographs will be taken of item and posted on our website, www.michaans.com and www.liveauctioneers.com and in our printed catalogs. Michaan's Auctions does not charge photography fees. As another courtesy to our consignors, if a lot does not sell, we will not charge them insurance or a buy-in fee to take the item back.
