A Guide to Selling at the Rago Arts and Auction Center

First, we thank you for your interest and look forward to representing you.

Selling at auction is called consigning and an auction is a partnership between auction house and consignor. The more your property brings at auction, the more both parties benefit. You hire an auction house for its ability to introduce your property to the greatest number of prospective buyers and market it effectively.

As you can see from examining past catalogues online, we auction a wide range of property at the Rago Arts and Auction Center, including fine art, decorative arts and furnishings, jewelry, Americana, and quality collectibles.

If you are thinking about consigning to auction either now or in the future, there is no charge for informal consultative visits here or our opinions of value. The consignment process is outlined below.

Inspection of Property: This is the first step. We have a staff of experts and specialists who can examine your property through photographs and descriptions or in person and render an opinion of value for you. (We do not work with stamps, coins, or firearms. And sometimes we get stumped. If so, we’ll let you know.)

You can begin this process by post, e-mail, phone, or in person.

By post or e-mail: Sending us photos and descriptions is a great way to go. (Don’t worry too much about the quality of the photos. And if the collection is large, feel free to send a few representative pictures. We do not return photos.) Include dimensions, if relevant, and any available information about signatures, labels, maker’s mark, medium, or physical condition. If you are interested in discussing private sale, please note that, as well. The appropriate expert will personally review all your information and we will reply to you in short order.

Mail your photos to:
Rago Arts and Auction Center
333 North Main Street
Lambertville, NJ 08530
E-mail your photos to: info@ragoarts.com
Please submit this form with photos: Auction Estimate Request Form

In person:
Walk-in Appraisal Day: You can walk in to the Rago Arts and Auction Center on Mondays from 1 p.m. to 4 p.m. for a free opinion of value. This is best for those who want to meet us in person and have a few items or a few and various items. As we do not hold Walk-in Appraisal Day on holidays, please always confirm by calling ahead to 609-397-9374. For directions, click here.

By appointment at the Rago Arts and Auction Center: If you’d like to make a special appointment, please call us at 609-397-9374. This is best if you have a number of items that a single expert should see – an assortment of jewelry, for example, art, pottery, Americana, and so forth.

By appointment on site: If you are interested in having us examine an entire estate or if your property is too large or numerous to bring in, let’s discuss an on site inspection. Please call 609-397-9374 or, if you’d prefer, send us information by post or email, as above.

By phone: Questions? Call us at 609-397-9374.

The Consignment Agreement: If one of our auctions would be the right venue for your property, you and one of our partners will agree upon the seller’s commission, price estimates, the potential date of sale, and discuss any questions you may have. For example, your property might need a repair to do its best at auction. Another possible topic is reserve pricing - whether to set a reserve and, if so, what that price should be. Once these details have been agreed upon, they are formalized in a contract known as the Consignor Agreement, which is signed by you and the Auction Center.

Standard Commission Rates: Everyone who sells property through our auctions pays us with a seller’s commission. This is a percentage of the successful selling price of the property (also known as the hammer). Though seller’s commissions will vary depending on the value of the property or the size of the collection. Note that, unlike some other houses, we do not offer a low seller’s commission and then inflate it with undisclosed surcharges. A single 1% fee covers all insurance, all storage, and all photography of your property.

Low and High Price Estimate: A price estimate is the dollar range we set to give potential buyers a measure of value. A number of factors go into setting the estimate: past selling prices, the expert’s perceived sense of the market, even buyer psychology. Your partner at the Auction Center will discuss this with you.

Reserve: A reserve is the confidential minimum price established between you and the Auction Center. Many items sell at auction without reserve, allowing the market to determine the right selling price. And we rarely take reserves on items with a low estimate below $500. But for items of great value, a reasonable reserve is always possible and often recommended. (Note that, at our Auction Center, the reserve must be at or below the low estimate.)

Date of Sale: We will advise you to place your property in the auction where we believe it will sell best. We hold specialty and general auctions year round and will recommend one to you.

Delivery of Property: We need your property at the Auction Center early enough to catalogue it, photograph it and market it correctly, usually at least one month prior to sale. We are happy to handle all the arrangements for you, should you choose, and for less than any specialist shippers. (Most auction houses leave all shipping arrangements to the sellers.)

Marketing of Property: We offer our Sellers a comprehensive marketing and sales program, utilizing a mailing list of over 20,000 potential buyers: Auctions are promoted by a color mailer, sent to clients prior to the auction; through trade advertisements; e-promos; press releases to major and minor print media (both general and in the field); an auction catalogue with all property pictured and in color; and pre-sale calls to potential buyers. We provide for absentee bidding, telephone bidding, and online bidding through eBay Live Auctions, in addition to bidding in room on the day of the sale. Your property is pictured and described for potential buyers on our web site, on the Live Auctioneers website, and on eBay prior to the sale.

Protection of Property: If you ship through us, your property is fully insured from the moment it leaves your hands. (If you choose to ship by another means, we urge you to get full coverage for the trip.) Our property insurance, on the road and at the auction house, is with Excelsior Insurance Company, a member of the Liberty Mutual Family. It has an A+ rating in the A.M. Best Guide, the independent, industry arbiter that rates the financial condition of insurance companies.

Pre-Auction Notification: You receive a free auction catalogue, mailed two weeks before the auction.

Post-Auction Notification: Prices realized are posted on the website and available by calling our offices on our first business day following the auction.

Passed Lots: Passed lots are lots that don’t sell because no one makes a sufficient opening bid. We have an extremely low percentage of passed lots (also called buy-ins) at our auction, because we market and price well and accept consignments we believe will attract buyers. Should a lot fail to sell, we make it available for 30 days as a "passed lot," lowering our buyer’s premium as a service to you and an inducement to the buyer. Should it still not sell, we will let you know whether we think it best to return the property or re-auction.

Payment: Buyers must pay us within 30 days after the auction. We mail you payment 45 days after the auction. Should we not receive payment from a buyer within 30 days, we continue to pursue the debt for you or, if you chose, void the sale. Happily, this is an exceptional circumstance. (See Terms of Sale for more information.)

If you have any other questions about working with us, please call us at 609/397-9374 or e-mail us. We thank you for your interest and your business.