Question 1

What is my item worth?

Accepted Answer

When it comes to determining value, a picture is worth a thousand words. So before we accept an item on consignment, we have to see it.

Question 2

When is it advisable to meet with an appraiser in person?

Accepted Answer

A specialist may respond to your online inquiry with a request to meet in person. Our Appraisal & Auction services team may reach out to suggest an in-home visit for the review of a larger collection or entire estate. We often ask for images and additional information before scheduling; you wouldn’t want an American furniture expert looking at your fine violin.

Question 3

How should I prepare for an in-home visit?

Accepted Answer

Please be prepared to welcome an appraiser, have the items you wish for them to see accessible, and any prior appraisals or documentation at hand.

Question 4

Do Fin's Auctions appraiser's travel?

Accepted Answer

Our appraisers travel throughout Indiana to meet with clients and view collections for auction. Please contact us regarding the sale of your collection and we can discuss a visit.

Question 5

Is there a fee for an auction estimate?

Accepted Answer

There is no charge for auction estimates and no obligation to consign, but we take it in good faith that requesting an auction evaluation means that you are considering selling your item at auction.

Question 6

When would I need a written appraisal?

Accepted Answer

Typically, written appraisals are only for estate planning, tax, or insurance purposes.

Question 7

How do I consign?

Accepted Answer

When your items are a good match for upcoming auctions, you will receive instructions on arranging an appointment for pickup. Next, you will sign a contract with Fin's Auction Services for your consignment. The agreement contains important information on how the auction process works and outlines your commission rates and fees.

Question 8

What is a reserve?

Accepted Answer

Your contract may specify a reserve or a minimum bid price for high-value objects. Most property at Fin's Auction Services is offered without 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.

Question 9

What are the consignment fees?

Accepted Answer

Fin's Auction Services charges a commission fee that is highly competitive, determined by the type and value of items being sold, and is negotiable. There are additional fees which may include transport, handling, storage and are negotiable.

Question 10

What happens once my items are at Fin's Auction Services?

Accepted Answer

Your items will be insured and stored in our warehouse for review. Then, our specialists and marketing team will research, catalog, photograph, and market your items and place the objects in the next appropriate auction.

Question 11

How will I know when my items will be auctioned?

Accepted Answer

Fin's takes special care to place your property in the most appropriate auction to attract passionate and motivated buyers. You will receive a pre-sale notice to your email, including the auction name, number, and date, along with the lot numbers of your property so you can follow along on the website.

Question 12

When will I get paid?

Accepted Answer

We continuously publish results to our website during the sale, viewable in two formats: the hammer price (or final bid price) plus buyer’s premium, or simply the hammer price. A consignor’s payment is calculated from the hammer price. Within 14 days after the auction, you will receive a results statement in your email. Consignor payment checks are mailed prior to 21 days after auction. Often times much quicker.

Question 13

What if my property didn’t sell?

Accepted Answer

Markets can be unpredictable. You may choose to have your property returned to you, or we can re-offer the item in a future auction.

Question 14

What is a Reserve?

Accepted Answer

The Reserve Price is the minimum amount accepted by a seller. Most rare items can have an established Reserve Price, although there are occasions when a winning bidder can be declared even if the Reserve Price isn’t met. This occurs when a item is sold “subject to” the seller’s approval. Sometimes, sellers sell an item for less than the Reserve Price.

Question 15

What happens if a Reserve Price isn't met?

Accepted Answer

If the Reserve is not met, the Seller has several options, including:
Declining all bids and re-auctioning the property
Selling the item to the highest bidder. These offers are considered “Subject to Seller Approval.”

Question 16

What is a Buyer’s Premium?

Accepted Answer

A buyer’s premium is a percentage added to the final bid to reach the total selling price of the real property or personal property being sold.

Question 17

Why choose an auction to sell your items?

Accepted Answer

Auctions can help you sell faster and reach more buyers! Bidding creates competition, and that can drive stronger prices. You also get broad exposure for your collection or estate, instead of relying on just a few buyers. Best of all, you can sell everything in one process and get paid in one result!

Question 18

How should you compare auction commission rates?

Accepted Answer

Don’t shop on commission alone! You should focus on your net return, not just the lowest fee. A lower commission can still mean less money if the sale is handled poorly. Look at experience, marketing, item knowledge, and how the auction is run. A strong plan can bring you a better result!

Frequently Asked Questions