Selling

Selling

At Lugosi Auctioneers we strive to make the process of selling a smooth, straightforward and most importantly a profitable one! Lugosi Auctioneers are a boutique auction house and we pride ourselves in offering personal service. Each client is important and much valued at Lugosi Auctioneers. We regularly sell to buyers throughout Australia and the World.

Marketing

We extensively advertise all our auctions in Local and Interstate Newspapers. Our catalogues, complete with photographs, are published on our own website. We have a large client data base and target those buyers with specific interests, in addition to those who have previously registered or purchased from us. We also send mail outs and email newsletters to our extensive data base.

Auction Appraisals

We are able to provide verbal valuations without charge, either at the saleroom or at your home. Alternatively we can give an estimate of value from an emailed image or photograph, these valuations are subject to the item(s) in question being examined by one of our specialists.

Reserve Price

This is the minimum price at which the item will be sold. It will be mutually agreed in advance between the vendor and ourselves at a level that is mutually acceptable. The reserve figure cannot be increased once the catalogue has been published. It is normal to allow the auctioneer a minimum 10% discretion on the reserve price however if required, we can firmly fix the reserve price again at a mutually agreed level.

It is worth noting that items offered with realistic estimates attract greater interest and can therefore surpass expectations.

Charges

Lugosi Auctioneers offer a competitive commission rate of 16% (17.6% including GST) although when comparing our commission rates with other auctioneers, please take into account any additional or hidden charges, For example a fee per lot, insurance, Illustrations etc.

Commission Rates: Our vendor’s commission is fixed at 16% (17.6% including GST). On site house contents sales and single owner collections rate are negotiable depending on total value. Withdrawals: A fee of 10% of the reserve figure or lower estimate will be levied if any item is withdrawn once it has been officially catalogued.
Unsold items: We do not charge for unsold items. We will generally review the reserve figure and decrease it by up to 20% for the next auction, unless the item is picked up within seven days.
Illustrations: We do not charge for illustrating items in either the printed catalogue or the internet catalogue although we reserve the right to illustrate any lot consigned for sale and to further use such in any pre or post sale be made prior to sale.
Lotting Fee: Each lot will incur a Nil lotting fee

Consignment Form

All vendors must sign a consignment form listing the items received by Lugosi Auctioneers with the estimates and reserves if required, agreeing to Lugosi Auctioneers terms and conditions of sale. This consignment form will form a legal and binding contract between the vendor and Lugosi Auctioneers.

Payment

Lugosi Auctioneers will remit the auction proceeds to the vendor(less any charges applicable) within fourteen days from the auction date. Vendor payment can be made by cheque or bank transfer. Lugosi Auctioneers are members of the Auctioneers & Valuers Association of Australia and all funds are held in a Trust Account which is subject to an annual audit. If payment has not been received Lugosi Auctioneers reserves the right to pursue the payment or not. Vendor’s will be paid in full once all payment’s have been received and cleared into our trust account.