Caveats for Online Autograph Auctions

By: David Thoreau

Buying and selling autographs through auction houses can be a rewarding experience. The gratification of acquiring a key item for your collection or selling an autograph at a record-setting price can be exhilarating experiences. However, there are potential downsides to autograph auction houses, particularly in states where licensing and regulation is lax and dealer abuse is common. Here are some of the caveats to consider.

Is the auction company properly licensed?
Some companies engage a friend or family member who knows little or nothing about autographs to be a licensed auctioneer and act as a front for the auction company.

Is the auctioneer licensed in New Hampshire?
New Hampshire has some of the laxest auction rules and regulations found in the United States. This is probably why some auctioneers licensed in New Hampshire actually reside in another state or have been sued in Federal Court for autograph fraud (Case 2:2007cv03482).

Does the auction company substantiate their autographs?
Many reputable auction companies confirm and guarantee the items they sell at auction. However, some companies require the consignor to be responsible for defending any claims of authenticity. That means that you bear the costs of responding to and defending allegations of misrepresentation.

Who determines authenticity of autographs?
Reputable auctioneers stand by the items they sell and offer lifetime guarantees that they personally sign. Beware of auction companies that issue preprinted Certificate of Authenticity that are signed in facsimile. Also beware of using auction companies that use third-part authenticators to deflect responsibility for authentication. Many of these third-party authenticators have numerous complaints that are recorded by the Better Business Bureau.

Who determines minimum selling price?
Naturally, you want any item sold at auction to be sold at an equitable and rewarding price that meets your minimum expectations. Some auction houses impose their own minimum selling price. Consider consigning to another auction house if their minimum selling price does not meet your needs.

Terms for cash advances?
Some auction houses offer generous cash advances to entice you to sign up with their auction house. However, you may be charged monthly interest and not paid for up to three months following the close of auction.

Are there additional fees?
Some auction companies charge additional fees to maximize their profits. Cataloging, photography, and processing fees for returned items are some examples of additional auction fees that add to their profit.

If done properly and without onerous restraints, selling or consigning your treasured autographs to a reputable autograph auction can be a rewarding experience.

Article Source: https://www.collectibles-articles.com

Go to AutographAlert.com for information about autograph auctions. Go to Famous-Celebrity-Autographs.com for a fascinating variety of autograph images that are great for framing. These websites are terrific resources that are loaded with useful information.

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