Consignment Rates:
The following rates are based on "text-book" situations. We realize that there are many variables to each situation, but hope that his guide will answer most of your questions.
Commissions:
At Bailey's all of our commissions are INCLUSIVE of all expenses, other than trucking. The commission rates below include the following costs and services:
| Newspaper Advertising | We promote our auctions with a fairly detailed announcement
of the sale with several local newspapers.
For the Hanover auctions, our listings reach the readership of the Hanover Post, Saugeen City News, Durham Chronicle, Chesley Enterprise, Owen Sound Sun Times, Walkerton Herald, Grey Bruce This Week, plus any of their related papers. Our Guelph Auctions are advertised with The Kitchener Waterloo Record, The Woodbridge Advertiser, Guelph Pennysaver, Guelph Tribune, Guelph Mercury, Cambridge Reporter, plus any other that are directly an audience.
|
| Internet Advertising | Our auctions can be found at:
www.BaileyAuctions.com
, www.ontariosauctionpaper.com
, www.auctionsfind.com ,
www.theauctionadvertiser.com
,
www.auctioneersassociation.com , plus periodically at
www.icollector.com ,
www.antiquestradegazette.com
, www.auctioneers.org ,
www.maineantiquesdigest.com
and / or any other sites that prove useful to specific auctions.
|
| E-Mail Advertising | Our auctions are sent out to opt-in memberships only.
This means, simply, that the people getting the listing, have asked us to
send it to them. We have our own database of over 1100 email addresses, which 900+ receive weekly notices. The remainder have asked to be notified of only specific items. We have another 2 databases which are used each week - www.auctionsfind.com and www.theauctionadvertiser.com both send out to their customers who have asked to be notified of our sales, or certain items we have.
|
| Computerized Inventory Management | Our commissions also include a full, organized process of
inventory management. From the time of pick up or delivery, your items
will be accounted for, and accurately. As soon as an item is in our
posession, the home, or source is given an inventory number (consignor
number). When at our location, all small items are sorted, and
separated into lots for the auction. If an item has a value of $15 or
more, it will be sold individually, with the spotlight on that item when it
is being sold. Each auction lot is given a lot number, assisting the
buyer in determining exactly which lot number they desire, and enabling them
to leave absentee bids if they wish. As items are being sold, the sales information is recorded on the computer, which allocates it automatically to your consignment. As it is recorded, the customers are instantly able to pay for their purchases. This is a feature that many auctions have not yet embraced.
|
| Tax Collection and Remittance | At auction, all items are subject to both provincial, and
federal tax. We provide the service of calculating, collecting, and
remitting that tax for you. When PST registrants purchase items, we
also provide the service of collecting only the applicable taxes, and
remitting the same.
|
| Payment Processing | Unlike many auctions, we provide a wide range of payment
options for our bidders. We gladly accept Cash, Visa, Mastercard,
American Express, Bank Cards, and known cheques. A good number of auctions do not accept such wide forms of payment, due to the operating costs of such. We feel that if a bidder is given the option of several payment methods, he / she might be willing to pay just a little bit more, or at least be able to bid, because Visa will pay for it! Our service commissions include the equipment rental, processing and handling costs of accepting such wide forms of payment.
|
| Quick & Easy Settlement | We pay our consignors quickly. 14 days following the auction, payment is ready for pick up, or can be mailed. With the consideration of all the processing, and clearing of payments, etc. etc., this seems like overnight.... Bailey Auctions can make your life simple! |
Commission Structure:
The following commissions are based on a typical scenario, where the items are sold at our location. Commissions are calculated on a per item (lot) basis, not on the entire consignment.
| Sales Price Range | Commission Earned |
| $0.00 - $10.00 | 50% |
| $10.01 - 999.99 | 25% |
| $1,000.00 - 5,000.00 | 20%* |
| $5,000.00 and Up | To be negotiated |
* Denotes variable rate. Depending on the amount of effort required to prepare the item for auction, as well as many other variables, the rate of 20% is subject to change. We sell many single items, such as vehicles, for a rate of 5 - 15%, depending on the value of the item.
Please call us if you have any questions. We are glad to offer a FREE consultation, where we can meet, inspect the items, and give you an idea of the commissions that will be earned. We offer sales on site, catalogue auctions, even internet auctions. We can be reached Monday through Friday, 9am - 5pm at either 519-823-1107 or 519-364-1336.