How to Sell or Consign Items at Auction: Step-by-Step Guide

Selling through an auction offers a professional platform where competitive bidding determines item value, potentially resulting in higher returns compared to private sales.

10 Steps to Successfully Sell at Auction

Step 1: Identify Items You Want to Sell

Create a detailed inventory documenting:

Item type
Age/year of manufacture
Origin
Brand/artist name
Materials
Condition
Signatures/hallmarks
Provenance
Supporting documentation

Step 2: Research Auction Houses

Key evaluation factors:

Specialization in your item category
Auction format (live/online/hybrid)
Commission structure
Sales history
Buyer audience
Marketing strategy
Customer reviews
Logistics support

Step 3: Submit Items for Evaluation

Submission recommendations:

Use auction house’s online form
Provide high-quality photos
Include accurate descriptions
Attach supporting documentation

Step 4: Review Valuation and Consignment Terms

Understand estimated price range
Review consignment agreement details
Confirm commission rates
Verify auction timeline

Step 5: Sign the Consignment Agreement

Legally confirm item details
Understand payout process
Review unsold item options

Step 6: Deliver or Arrange Pickup of Items

Delivery options:

Personal drop-off
Insured shipping
Auction-arranged pickup

Step 7: Pre-Auction Preparation

Auction house responsibilities:

Detailed cataloging
Professional photography
Targeted marketing
Online/in-person previews

Step 8: Auction Day

Competitive bidding process
Live/online/hybrid formats
Professional auctioneer management

Step 9: Post-Sale Settlement

Buyer payment collection
Detailed settlement statement
Notification of sale results

Step 10: Receive Your Payment

Funds issued 15-45 days after sale
Payment methods: Bank transfer