Whether you have inherited a collection, are downsizing, or simply want to find new homes for pieces you no longer need, auction is one of the most effective ways to sell antiques and fine art. The process is straightforward — but understanding how it works helps you get the best results.
This guide explains exactly how consignment works at HeritageBids, from initial contact to final settlement.
Why Sell at Auction?
Many people assume that selling privately — through a dealer or directly to a buyer — will yield better results. In some cases that is true. But auction offers several advantages that private sale cannot match:
Competitive bidding drives prices up. When two or more serious buyers want the same piece, they bid against each other. The final price is determined by the market, not by a dealer’s margin or a private buyer’s negotiating skill.
Access to a global buyer pool. Online auctions reach collectors across the United States, Europe, Asia and beyond. A piece that might struggle to find a buyer locally can attract strong interest internationally.
Speed. A private sale can take months or years to complete. Auction offers a defined timeline — your piece goes to market on a specific date, and settlement follows within weeks of the sale.
Transparency. The auction process is public. Prices are recorded and verifiable. You know exactly what your piece sold for and how the final settlement was calculated.
What Can I Consign to HeritageBids?
HeritageBids specializes in:
- Antique rugs and carpets — Persian, Turkish, Caucasian, Central Asian and European
- Fine art — paintings, works on paper, prints and sculpture
- Jewelry and watches — estate, vintage and contemporary
- Silver and decorative arts — flatware, hollowware, ceramics and objects
- Designer items — handbags, accessories and collectibles
If you are unsure whether your piece is appropriate for auction, contact us for a free initial assessment. We are happy to advise.
Step 1 — Initial Contact and Valuation
The process begins with a simple inquiry. Contact us at [email protected] with:
- A brief description of what you are looking to sell
- Photos of the piece (front, back, any details, any condition issues)
- Any information you have about age, origin or provenance
Our specialists will review your submission and respond within 5 business days with an initial assessment. This includes an estimated auction value range and a recommendation for which upcoming auction would be most appropriate for your piece.
This initial valuation is completely free and carries no obligation.
Step 2 — Consignment Agreement
If you decide to proceed, we will send you a simple consignment agreement that outlines:
- The lot description as it will appear in the catalog
- The estimate range
- The reserve price (the minimum you will accept)
- The seller’s commission (10% of the hammer price at HeritageBids)
- The auction date
Take your time reviewing the agreement. We are happy to answer any questions before you sign.
A note on reserves: Setting an appropriate reserve is one of the most important decisions in the consignment process. A reserve that is too high can prevent a sale entirely. A reserve that is too low can result in a price below your expectations. Our specialists will recommend a reserve based on current market conditions — we want your piece to sell, and we want you to be satisfied with the result.
Step 3 — Shipping Your Item
Once the agreement is signed, you ship your piece to us — or we can arrange collection in certain circumstances. We work with specialist art and antique shippers who handle pieces with appropriate care.
Shipping costs are the responsibility of the consignor for inbound delivery. We cover return shipping for any unsold lots.
Step 4 — Cataloging and Photography
Our team handles all catalog preparation. This includes:
- Photography guidance — we may use your existing photos if they meet our quality standards, or request additional images
- Research and attribution — we verify origin, age and any relevant historical information
- Catalog description — a professional written description of the lot, including condition notes
- Estimate setting — final estimates are set based on current market data and comparable recent sales
You will have the opportunity to review your lot’s catalog entry before it goes live.
Step 5 — The Auction
Your lot goes live in our online catalog approximately two weeks before the auction date. During this preview period, registered bidders can view the lot, request condition reports and place absentee bids.
On auction day, bidding opens and runs live. You can follow the bidding in real time through our platform.
What happens if my lot does not sell? If bidding does not reach the reserve price, the lot is passed. We will contact you to discuss options — which may include relisting in a future auction, adjusting the reserve, or returning the piece to you.
Step 6 — Settlement
After the auction, successful buyers have a defined payment window. Once payment is received and cleared, settlement is processed to consignors.
Settlement calculation example:
Hammer price: $5,000
Seller commission: -$500 (10%)
Net to consignor: $4,500
Buyer also pays:
Buyer's premium: +$750 (15%)
Total paid by buyer: $5,750Settlement is typically processed within 30-35 days of the auction date, once buyer payments have been received and cleared.
Frequently Asked Questions
How long does the process take? From initial contact to auction day is typically 3-6 weeks, depending on when the next appropriate auction is scheduled.
Are there any upfront fees? No. HeritageBids charges no upfront fees of any kind. Our commission is taken only from the hammer price if and when your lot sells.
What if I have multiple items? We welcome multi-lot consignments. If you have a significant collection to place, contact us directly to discuss a tailored consignment arrangement.
Can I set a high reserve to protect my piece? Yes — but we strongly advise against reserves significantly above the low estimate. Lots with unrealistic reserves frequently go unsold, and unsold lots cost both of us time and opportunity. Our specialists will recommend a reserve that protects your interests while keeping the lot competitive.
Do you handle estate consignments? Yes. We work with estate attorneys, executors and heirs to manage the auction process sensitively and efficiently. Contact us to discuss your situation.
Ready to Consign?
If you have pieces you are considering selling, we would love to hear from you. The initial conversation costs nothing and carries no obligation.
Contact us at [email protected] or visit our website to submit photos and begin the process.
Our team responds to all inquiries within 5 business days.
HeritageBids — Curated auctions for serious collectors.
