Guide to Selling
Selling at auction is called Consigning and an auction is a partnership
between our auction company and consignor. The more your assets brings at auction,
the more both parties benefit. You hire an auction company for its ability to market your property to the greatest number of prospective buyers, and achieve a fair market value on auction day.
We offer the Auction Method of Marketing for a wide range of assets ; antiques, quality collectibles,
furniture, estates, business liquidations and specialty sales.
John Saugey is a Realtor(R) with Coldwell Banker Rector Phillips Morse, and can also assist you with any Real Estate inquiries.
You may drop off your items Monday through Friday between 10:00am - 6:00pm.
Please always confirm by calling (501) 661-7653 for there are times when the
entire staff may be off the premises. Our facility is capable of storing your assets from one item to an an entire estate.
If you are interested in having us examine an entire estate or if you
property is too large or numerous to bring in, we can give you an on site
inspection to discuss moving the estate to our auction center. Please call
(501) 661-7653 or, if you prefer send us information by post or email.
If our auction would be the right venue for your assets, you and
our office staff will agree upon the seller's commission, potential date of
sale, and discuss any questions you may have. Another possible topic is reserve
pricing - A defined sell or no sell price, whether to set a reserve and, if so, what that price should be. Once
these details have been agreed upon, they are formalized in a contract known as
the Consignor Agreement, which is singed by you and the Auction Center.
Commission Rates:
Everyone who sells assets though our auction service pays us with a Sellers
Commission. This is a percentage of the successful selling price
(also known as the hammer price). Seller's commissions can vary depending on the quality and quantity of the assets. Our commission fee
covers all storage, photography, marketing, and credit card fees. We also offer pick up service at competitive rates.
A reserve is the confidential minimum price established between you and the
Auction Center. Many items sell at auction without reserve, allowing the market
to determine the right selling price. Some items will sell for as little as $2, depending on the desirability of the item and condition. We rarely take reserves on items with
a low estimate; below $100.00. But for items of great value, a reasonable
reserve is always possible and often recommended. Note, only 3 items per seller
per auction.
Depending upon prior inventory already stored for other consignors, we will be
able to give you an estimated date for your consignment to be offered for auction. Typically, there is a 30 day wait before your consignment is offered, though there are always exceptions - Example- you consign 1 furniture item. We can usually place consignments like this in the next sale.
We would like for your consignment to be at the Auction Center early enough to be cataloged,
photographed and marketed correctly, usually at least 3 to 4 weeks prior to
sale. We are happy to handle all of the arrangements if you choose our Pick-Up
provision and store it until date of sale.
We offer our Sellers a comprehensive marketing program, utilizing
Saugey's Pinnacle Auction isaysold.com website with an auction catalog and photographs, print ads in the
Arkansas Democrat - Gazette Auction Block located in Sunday's Classified section, the
Arkansas Antiques monthly publication, which has state wide distribution, the Arkansas Auctioneer Association
website, the National Auctioneers Association website, and auctionzip.com. Our online advertising is "spidered" to dozens of other auction search sites. We also utilize our customer database and send emails to potential buyers. Our company offers absentee
bidding in person prior to the sale, or via the world wide web.
All monies collected at auction go into a Pinnacle Auction Escrow Account.
The buyers pay us the day of auction and we deposit that money directly into the escrow account. We pay Sellers within 10 working days from date of sale.
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