The Team at Gildings are here to help guide you through the selling process. Our aim is to make parting with your items as painless a possible, providing professional advice to ensure we maximise and achieve the highest possible value for you. Here is a brief outline of the process.
The first step is arranging a free auction valuation. This can be arranged through an appointment at the saleroom, one of our off-site valuation days, or via house visit for larger collections. Alternatively, email details and images to us for provisional guidance.
On seeing your items, our specialists will discuss and advise a recommended auction estimate based on current market trends and results. Where appropriate, we will agree a reserve price prior to auction sale.
At the point of consignment, you will need to set up an account with us if you have not already got one. Once you have an account you can use this to bid, buy, and sell items with ease. As part of the account registration process, clients will be asked to provide valid forms of ID so that we can verify their details. You can read further about what ID is accepted and what details we keep securely on file here.
We shall then issue a receipt listing your property that is being consigned for auction, with estimates, reserves and outline of charges. This receipt is your agreed contract of sale, and lists our full Terms and Conditions for sellers.
3. Auction and Payment
You will be informed of auction entry by way of a pre-sale notification, following cataloguing and photography of your items.
You’re welcome to attend the auction to see your items being sold. If you are not able to make it on the day, we shall send a post-sale results statement and payment by way of direct bank transfer, issued within 18 working days, providing payment has been received. The statement will outline all charges, which are deducted from sale proceeds.
Should any items not sell, we shall advise accordingly, either of re-entry or collection.
4. Vendor’s Commission
Our standard commission charges rates, on a per lot basis, are outlined below, however we are happy to discuss terms for higher value consignments.
As an example, if your lot sells for £500, the fees would be:
15% commission – £75
Lotting fee – £5
VAT at 20% – £16 Total charges = £96,
leaving you £404