Selling & Consignments
The Consignment Process
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LLG will work with you to maximize the value of your consignments. At LLG, your property will receive personal care and attention including targeted & social media marketing, web advertising, and exposure to registered bidders.
LLG will walk you through the consignment process from assessment through sale.
Consequently, we will help you inventory and document each item accepted for consignment at auction, review timeline for scheduling and launching the sale, and provide you with an agreement detailing the commission rate and fees (if any) that you will be charged at conclusion of auction.
Setting a Reserve Price
For objects of high value, your contract may contain a reserve, or a minimum price at which you will allow the item to sell.
You, as the Consignor, may suggest or insist that a reserve price is established on one or more items being offered. All Reserve Price items are subject to an additional fee if the item does not sell. This will be discussed with you and detailed in the Consignment Agreement.
At LLG, most property offered at auction is without a reserve, which can work to your advantage since starting the bidding at a low price will often inspire more bidders to join in. Bidder competition is essential to earning a higher final hammer price.
Estimates
Estimates provided at any time are based on opinion and experience but do not constitute a guarantee of the potential sale price your item(s) will realize at auction.
Bidders set the market price for any item at auction and interest in particular items are subject to a multitude of variables, including but not limited to: Market interest, Recent prices of similar items realized at sale, Economy, Trend, Inherent value of item (i.e., precious metals, diamonds, gemstones), etc… As such, your item(s) may very well sell far above or below any estimate.
Attend the Auction
An auction is a fast-paced, thrilling experience for bidders and consignors alike. We recommend attending the auction where your property will sell – it’s an experience you’ll never forget.
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Join us online to attend any of our Timed or Live Auctions wherever you are from your mobile phone or computer by accessing you event here: https://www.bidsquare.com/auction-house/larry-london-galleria
After the Auction
If you didn’t attend the auction online, you can check the prices realized by navigating to https://www.bidsquare.com/auction-house/larry-london-galleria and selecting the closed auction.
Consignor’s payment is strictly calculated from the hammer price. Buyer’s Premium, Sales Tax, Packaging & Shipping charges do not apply and are not included in that calculation.
In the event a particular item fails to sell at auction, or does not meet the reserve price if one has been established, or is ‘passed’ by LLG because LLG believes the value of the item is much greater than the current bid- the Consignor has two options:
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a) Choose to offer the lot again in a future auction (this will be done automatically unless we are otherwise advised), or
b) You may wish to have your property returned to you. Charges may apply for returned property.
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If your property sold, CONGRATULATIONS! Expect to receive payment from Larry London Galleria after all Bidder payments have settled and Bidders have received their purchases. Typically, payment is made to Consignor within 30 days after auction close. Consignors will be paid separately for each auction in which select property was featured.
Whether you are an Individual, Collector, or a Family Member settling an estate, we want to work with you! Contact us today for a free consultation, to schedule a meeting, or to discuss consigning your items: customerservice@llondongalleria.com or Text or Call: (959) 777-4773