| It is the latter
factor that attracts many sellers to the auction method of
disposal. And for many sellers, it has been successful. There are,
however, some especially vital things that sellers need to know
(especially if/when one might consider Schmitt Investors Ltd. as
the potential buyer): • Auctions operate generally on a
"consignment basis." This means that, throughout the process
of selling your collectibles at an auction, you continue to hold
title to them until they are sold. Factor to consider: all unsold
items are going to come back to you. |
• If one is looking
to receive some money "up front" when dealing with an
auction, this may not be the case—nor may it work out to the
seller's advantage if, in fact, advance money is offered.
Generally, auction firms give up-front cash to the seller if the
firm feels the holdings are especially valuable. And then, if
money is offered, there are strings attached; i.e., the seller may
be asked to pay interest as if the money given was a loan.
• Waiting to be paid. In nearly all cases, the funds
realized from the auction
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increments (as each
buyer sends in his money).
• Costs. Sellers are charged various fees by the auction
firm—ranging from lotting fees to a seller's commission.
Obviously, we think the best course of action is to deal with a
decades-old, reputable buyer like us. You're treated fairly and
promptly with no hassles and with money quickly in your hands. And
consultation is always free.
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