Before The Auction (Part 1)

The Consignment Agreement
Rago’s responds to all inquiries. If we both think one of our auctions would be the right place to sell your property, we will formalize the details in a contract known as the Consignor Agreement, which is signed by you and Rago’s. We hold specialty and general auctions year round and will recommend one to you as the auction where we believe your property will sell best.

Commissions and fees
A prospective seller’s first question is often about commission - the percentage of the selling price that the auction house retains as its fee.

Our commission rate is based on both on the size of your consignment and its rarity. Rago’s is always competitive with other auction houses and we believe you’ll find our standards of service, representation, and promotion superior.

Unlike some other houses, we do not offer a low seller’s commission and then inflate it with undisclosed surcharges. A single 1% fee above your commission covers all costs associated with bringing your property to market. Nor do we charge you a fee for bringing your property to market if it doesn’t sell, as many auction houses do. (This is called a buy-in fee.) If you are speaking with other auction houses, please make sure you ask them about all these fees before deciding where to sell.

Sometimes a professional repair/restoration/cleaning will increase the appeal of property substantially. If your specialist thinks that the likely increase in selling price will be sufficient to justify the cost of the repair, he or she will discuss this with you. If you agree that the repair/restoration/cleaning sounds worthwhile and approve the charge, we will take care of it for you and deduct the cost from your payment.

Pre-sale Estimates
The estimates we provide reflect our opinion of the price that will attract the most bidders and fetch you the best price. It can’t be so low as to be silly. But it definitely can’t be too high. It is based, where possible, on prices paid for comparable items sold in the past. The actual selling price will always depend on the number of interested bidders and how determined the last two bidders are to own your property.