Selling Signed Memorabilia

By: David Thoreau

Selling signed memorabilia can be a worthwhile endeavor. 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. Selling signed memorabilia to legally recognized entities is important.

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 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.

Selling signed memorabila needs to be carefully considered. 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

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