Selling Signed Memorabilia through Autograph Auctions

By: David Thoreau

Knowledgeable sellers have an edge when it comes to selling signed memorabilia through an auction company. Here are some of the key considerations:

Licensed Auctioneer

The licensed auctioneer should be a professional, full-time dealer. Work directly with a licensed auctioneer to negotiate agreements and handle your signed memorabilia.

Background Check

Be wary of auction companies that have a poor track record, or those that have been investigated by professional organizations or governmental agencies. RRAuction was sued for fraud in federal court and has reportedly sued an employee for embezzlement. The U.S. Attorney's office has filed fraud charges against autograph dealer Forrest R. Smith III for seven years of illegal auction activity.

Net Reserve

Set a reasonable reserve net amount for your signed memorabilia. This is the bottom limit of payment for your memorabilia. Some autograph auction companies advertise minimum bids for memorabilia. Under these conditions your autograph may sell for an amount far below your actual cost or reasonable value. This is a great opportunity for a bargain hunter, but a vulnerable position for you as the seller.


Cash Advances

Some auction companies offer generous cash advances to entice consignors to sign up with their company. However, cash advances can become their lucrative loans. A New Hampshire auction company advertises 1.5% interest on cash advances.


Commissions

Depending on the value of your consignment, commissions on sales of signed memorabilia range from 0% to 20%. There is no evidence that companies that charge high commissions have better results then companies that have low rates.


Timely Payment

Sales of consignments should be finalized shortly after conclusion of an auction. Payments from buyers should clear within a few weeks after auction and prompt payment made to consignors.

The memorabilia auction business is competitive with numerous auction companies vying for your signed memorabilia. Devote some time to due diligence and go with a reputable, licensed auctioneer that suits your needs, your financial goals, and your level of comfort.

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

Go to AutographAlert for information about auctions and dealers. Visit Famous Celebrity Autographs, for viewing autograph stock photos and information about buying and selling autographs. Go to the library database at Stanford University for information about signed memorabilia.

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