Selling at Auction

Seller's Commission and Charges Explained

We have tried to make our selling service as simple as possible however please contact us if you need any further information.

Valuation
There is no charge for this service

Vendor’s Commission Rate
Our vendor’s commission rate is set at a standard rate of between 10% and 20% plus VAT. Subject to negotiation dependent on the size and value of consignment. Unlike the vast majority of other auction houses, we charge no additional fees. For example. we do not charge for lotting, photography, insurance, storage, reserves nor relisting unsold items. In addition, we can arrange collection from you at no additional cost.

VAT
VAT at the current rate of 20% will be added to all commissions, premiums and charges where applicable.

Reserves
There is no charge for this service

Loss and Damage Warranty / Insurance
There is no charge for this service.

Illustration Charges and lotting
There is no charge for photographs or catalogue illustrations. Nor is there any lotting fee.

Lot Storage
Consignments are stored free of charge whilst your instruction is still valid. If an item remains unsold after 3 attempts to sell, we politely ask you to arrange a collection. Otherwise we reserve the right to sell and donate any proceeds to charity.

The process

1. Value it.

Whether it be a single item or large collection, our specialists will use their expertise to appraise your item and give you a realistic auction estimate for you. You can contact us to request a free valuation / appraisal on items for sale in one of the following ways:

• Online: Submit images and a description of your items via the form on the valuation page

• By Email: Submit images (where possible) and a written description of your items to info@mm-auctions.com

• In Person: Arrange an appointment and bring your item(s) to our saleroom in Spalding. You can meet our specialist and find more about the auction process face to face. Please note appointments are subject to covid-19 restrictions in operation at the time.

• External Valuation: M&M Specialist Auctioneers occasionally host free valuation days either at our Spalding saleroom or at selected venues around the Country. Keep an eye on our news page for more information.

• By Private Appointment: We are able to make appointments to visit your home. Home visits are covid secure.

For professional written valuations for insurance and probate, please visit our Services page.

2. Consign it.

If you have brought your items to our saleroom in Spalding for valuation, you are able to leave the items with us there and then. Alternatively, items may be dropped off by prior arranged appointment. You can also take advantage of our in-house collection service, which covers the UK and Europe. There are typically no charges for this service in the UK but please confirm upon initial query. If using our in-house collection service, we ask clients, where possible, to ensure items are packed safely for transport. It is advisable where possible to provide us with a full inventory prior to drop off / collection.

We will at this point discuss with you how we intend to sell your consignment. For example, if a large collection, it may be sold over the course of several auctions to achieve the best prices for you. Where possible, we’ll always tailor our approach to your own requirements.

We provide a signed receipt once the consignment is left with us or we have collected. This is your authorisation to us to act as agent on your behalf in selling your consignment. It is also our guarantee to you that your items will be safe and secure in our possession. The receipt will confirm our fee and is acceptance of you of our standard terms.

3. Catalogue it.

Once your consignment is with us, we will look to catalogue for the next available auction. We will have already discussed how we intend to sell your consignment and confirmed our fee. All items are professionally photographed and listed with general conditions highlighted. We provide as much information as required in order to achieve the best prices for you. Between consignment and sale day, you are welcome to contact us any point with any queries.

A pre-sale statement will be sent out approximately 7 days prior to the auction. The statement will list all items consigned with lot numbers, estimates and reserves (if applicable). If no reserves are provided, we will typically adopt our lower estimate as an in-house reserve. No item is sold under market value unnecessarily. Reserves are welcome however we invite you to discuss these with us at the consignment stage.

On sale day, your consignment will be available to our global clientele of bidders. We sell on multiple live bidding platforms as well as offering services via telephone and email. Room bidding is currently unavailable due to the pandemic however we have seen consistently strong prices through all our other bidding options.

Once sold, we invoice our buyers and prepare items for shipment where applicable. You will receive a post-sale statement approximately 7 days after the auction

4. After the auction

Sale results are listed on our website usually on the Monday after the auction. You will also be sent a provisional post-sale statement listing details of the hammer price realised for each lot consigned. At this point, if not already provided, we invite you to contact us with payment instructions. Bank Transfer is our preferred method however cheque payment is also an option.

Payment to our vendors is usually made no later than 28 working days after an auction on the basis that we have received full payment from buyers and that we have your payment instruction.

Unsold lots can be relisted in a future auction. Usually we give items a one sale gap before re-listing. Alternatively, if you prefer to collect your unsold items, you can contact us to arrange an appointment.