How Auctions Work
When selling at auction, you agree to allow the auctioneer to act as your agent. Our job is to realize the highest possible value for your property. In exchange, we retain a percentage of the sale price in the form of a commission.
In deciding what items to accept for consignment we consider condition, provenance (history of ownership), and current market trends. We hold approximately a dozen auctions each year. We create online and printed full-color catalogs for major auctions, with photographs and descriptions.
Our services include photography, marketing, research, catalog description and catalog production. We store and offer insurance for your items while under our care. Condition reports are provided for interested buyers.
Once your consignment arrives at New England Auctions, we prepare it for auction (research, description, and photography).
After your items have been prepared for auction, we email or mail an itemized consignment contract that will specify the auction date, value estimate, commission rate and fees.
Approximately 7 to 10 days before a live auction, your property is displayed in our showroom for potential buyers to examine.
Auction results are available in real time. We also notify you by email.
You will receive a settlement check within 30 days after the auction date, pending full payment from the buyer. You will receive a check amount that equals the hammer price (highest bid), minus the commission and fees.
In the unlikely event that your consignment item is passed during the auction, we will automatically re-assign it to another future auction with a slightly lowered estimate.