How do auctions work? First, there need to be items up for bidding!
Salcedo Auctions is providing essential information to people who want to put objects on the block. To those new to the auction process, Salcedo aims to provide a seamless buying and selling experience through this series titled Understanding Auctions.
The second part of this series explains “consigning,” and how to sell with the premier auction house in the Philippines.
When consigning with Salcedo Auctions, clients are entrusting Salcedo with the sale of their cherished property. Salcedo Auctions accepts a diverse range of categories for consignment—fine art, heirloom furniture and decor, fine jewelry and timepieces, ethnographic objects, rare prints and maps, collectible toys and editions, luxury accessories, and valuable books, among other compelling items.
Here are three simple steps to consigning pieces to Salcedo Auctions:
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Visit the website (www.salcedoauctions.com) and fill out the consignment form, where the consignor can request a complimentary auction estimate.
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Once the consignor agrees to the proposed price range and reserve (more on that in the next episode), they will receive a consignment agreement that will include the terms and conditions of the sale, which is mutually agreed upon beforehand.
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Afterwards, delivery of the item to the Salcedo Auctions office at NEX Tower, 6786 Ayala Avenue can be arranged for photography and cataloging.
The item will then be featured in the Salcedo Auctions sale catalog, such as the forthcoming The Well-Appointed Life live and online auction on 16 September 2023. When the piece gets a winning bid, the consignor will receive the sale proceeds, less the service fees, soon after the auction. It’s that simple.
Salcedo Auctions’ service fees vary according to the quality of the item consigned and the agreement reached between the auction house and the consignor. Its rates are always competitive and fair. As the industry pioneer, Salcedo Auctions upholds its leadership position by making the interests of its clients primary—in its goal to set the standard by which the Philippine art market is measured.
