M.J. Bohan or Auction
Auction houses sell you on glamour. They hook you on the full-page glossy catalogue images, fancy events and the “possibility” of what it may sell for. The reality is that you end up paying for all of this without even any guaranteed results.
If you have a collection that is worth, say $200,000, the auction house may collect as much as $70,000 in fees from the seller’s and buyer’s commission, insurance and cataloguing fees. Don’t be mistaken; these costs come out of your client’s pocket. If it doesn’t sell, they charge you a “bought in” fee and a shipping fee to get it back to you.
Auction houses take consignments 4 to 6 months before the auction takes place and pay you 35 days after the sale is concluded. If the buyer doesn’t pay the auction house, you don’t get paid, assuming the piece sells at all.
Traditionally, only 70-80% of what is in a particular auction will sell. That means whatever the size of the jewelry collection that you’re liquidating, there will be a good portion that will be returned to you. After investing a lot of time, effort and expense, you may still end up having unsold jewelry. Also, the marketability if the returned items is diminished because everyone saw them in the catalogue and they didn’t sell.
Let M.J. Bohan Co., Inc. come and write a check for the entire collection. If your collection is worth $20,000, $200,000 or $2,000,000, that is what you will get a check for. No commissions, no fees no “if it sells?”, no hard-to-read contracts. We come to you, evaluate the collection and can write you a check all in the same day. It really is that simple. If you have any questions, please contact our jewelry store in Beverly Hills.