Frequently Asked Questions about selling at Stair
What is a consignment and how does it work?
A consignment is an item or a group of property that we sell on your behalf in an auction here at Stair. You remain the owner of the property until it is sold.
What is an estimate?
An estimate is the price range in which we think the lot will sell at auction – a lower amount (the low estimate) to a higher amount (the high estimate) e.g. $1,000 – $2,000
How does Stair determine estimates?
Estimates are based on past auction records, strength of the market, and desirability. We estimate conservatively, as we believe that in a weakened market this helps enhance interest in an item that might be overlooked if estimated too high. On the flip side, we recognize that on occasion, an ambitious estimate, on an item which merits it, can suggest its importance and increase interest.
What are Stair’s commission terms?
Our services are tailored to the individual, so these will vary according to factors such as the value or desirability of the property, or the size of the consignment. In other words, we do not have standard commission terms.
Will a specialist come to see the property?
We love to get out and discover new things! If we believe your property could do well at auction at Stair, we will schedule an appointment to come view your collection.
How far does Stair travel to view or collect property?
If you have something special, we will go just about anywhere!
How far in advance of an auction does property need to be at Stair?
In order to inspect, catalogue and photograph your property, it should be at Stair at least six weeks prior to the sale for which it is allocated.
What is a reserve?
A reserve is the lowest amount you are willing to allow your property to be sold for. This amount is not made public.
When will I be paid?
Your check and Settlement Statement will be sent to you 30 business days after the sale.
What if my item does not sell?
We have a sold rate of 95 to 97 percent. On the rare occasion that your item does not sell, we will contact you to discuss whether you would like us to reoffer the item with lower estimates or you would like to take it back.
How does Stair allocate property to an auction?
Your property will be allocated to the sale where we think it will have the most success.
How often does Stair have sales?
Stair currently holds sales around every three weeks, built around incoming and available property. We are constantly evolving, so no two sales or years are ever the same, but expect around seven Fine sales, eight Expo sales and six Online sales a year.
What type of property does Stair sell?
We sell interesting property from interesting people. Read about Our Sales here.
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