Hammer price is not take-home money. Between estimate and settlement sits a fee schedule. The more detailed the schedule, the more reliable the house — vagueness is the risk.
Q1: What is charged at consignment?
Sound practice: little or nothing upfront, principal fees after sale by percentage. High catalogue or promotion fees up front paired with sky-high promises — raise your guard.
Q2: Commission rate and base
Three things: commission on hammer or on hammer-plus-premium, the rate, and any tiering. Confirm buyer's premium is borne by the buyer and never deducted twice from your proceeds.
Q3: What if it does not sell?
Who bears transport, storage and insurance on a buy-in? Is there an unsold fee? When does the piece come back? All of it belongs in the contract — no verbal answers.
Q4: Settlement period and method
How many working days after sale, in which currency, who bears exchange movement — critical for cross-border sellers in Macau and Hong Kong.
Q5: Insurance
Who insures the piece during promotion, display and transit; at what valuation; what exclusions apply.
Q6: Withdrawal terms
Conditions and costs of withdrawing after consignment — the clearer the terms, the fewer the disputes.
These six questions work with any contract. Details on the Process page; consign via Consign.
