*How to Sell
UNDERSTAND THE TRUE VALUE
There are many reasons why a work of fine art, a piece of jewellery, a decorative object or a bottle of wine or spirits no longer suits your current lifestyle. Perhaps you are downsizing, your taste has changed, or you’re looking to redirect your assets. Or you may have been asked to manage an estate auction for a family member. Whatever the reason, knowing the value and market potential of your items is crucial to getting the best price and selling with confidence.
If you’re looking to sell higher value items, you should consider using an auction house rather than any of the plethora of commercial auction-style websites, which don’t have the same wealth of knowledge, skilled marketing, specialised networks, or personalised services that an established auction house does. Luxury goods consignments of fine art, jewellery or objects should be treated with care, which is why it is important to consider how best to sell your prized possessions.
Why Sell with Waddington’s?
Reach: As Canada’s oldest auction house, Waddington’s has a global network of buyers, dealers and experts. We sell to private collectors, public institutions and everyone in between. Your item or collection will be seen by our large network of collectors around the world. We work with both sellers and buyers and strive to do our best for both.
Expertise: Our team of specialists have spent years honing their knowledge. They possess an incredible level of expertise and are best positioned to offer you the advice you need. Our experts work hard to decode illegible signatures, investigate provenance and connect with artists’ estates. Our specialists do the research that may be the difference between selling an item for hundreds…versus thousands.
Risk-Free Profit: We share a single goal – to achieve the best possible price for your items. Waddington’s holds around 100 online auctions per year and consistently meets or exceeds auction estimates. Our wide reach means a larger and well-targeted audience for your items, which translates into great value for you. Selling with Waddington’s is risk-free: we do not charge for items that fail to sell, and always make sure that you are comfortable with the asking price before any item goes to auction.
Innovation and Accessibility: Waddington’s take great pride in continuing to innovate and lead the industry in providing the best advice, answers and appraisals in the most convenient ways possible. Being able to access both our auctions and our staff remotely or in person is important to us.
4 EASY STEPS TO SELL YOUR ITEMS AT AUCTION
1. REQUEST AN AUCTION ESTIMATE
Take advantage of our auction consignment services! Our confidential and easy-to-use consignment form allows you to submit items to our specialists, who will provide you with a complimentary auction appraisal. Simply upload images, dimensions, and any information you may have about the item, and we will provide you information on its market value. Having trouble uploading? Contact us at [email protected] or by telephone at 416-504-9100.
Start by taking a few pictures of your item(s). Don’t worry about getting the perfect shot: as long as the image is in focus, we should be able to get a good idea of what we’re looking at. Closeup photos of signatures, marks or stamps always help, as well as any gallery labels or notations on the backs of paintings. Gather any information you have including medium, date, dimensions and provenance if possible (where the item came from, who owned it, any stories passed down through the family, etc.). Send them to us via our consignment form.
Once we have received your images, one of our qualified appraisers will take a thorough look at your items and will provide you with its market value, as well our suggestions regarding when you should sell and how we can help. If your item isn’t the right fit for one of our auctions, we are always happy to provide referrals or alternative suggestions.
2. SIGN A VENDOR’S AGREEMENT
Once we have determined that your item fits within our auction program, you and a Waddington’s specialist will agree on a “reserve price,” which is the lowest price you would be willing to accept for the work. Bidding at auction will start at this reserve price.
After you have reviewed the reserve price, we will provide you with a Vendor’s Agreement, which authorizes Waddington’s to sell your item(s) on your behalf. You can review this contract in advance here. Looking to sell Wine or Spirits? More information on selling those items can be found here.
A Vendor’s Agreement is legally binding, but as mentioned above, if your item(s) don’t sell, you won’t pay a thing.
We are also able to facilitate confidential, private sales, thus avoiding the restrictions of a fixed auction calendar. Please do not hesitate to reach out to discuss a tailored strategy for a specific piece that is right for you.
Please be aware that we sell on consignment, which means that Waddington’s does not buy the work from you: we sell it on your behalf and deduct our fees from the “hammer price,” which is the final price reached at auction. To review our fee structure, please click here.
3. PROMOTING YOUR ITEM
Our team will catalogue, photograph and research your item in order to market to its best advantage. Your item(s) will be posted on our enhanced website, which includes our proprietary online bidding platform. Each item in our auctions is meticulously recorded with relevant information presented in a detailed Lot Report, meaning that a prospective buyer anywhere in the world will be able to examine items online, allowing them to bid online with confidence.
Auctions are accompanied by public and private previews to provide interested buyers ample opportunity to inspect items before they shop. Every item is featured in our online galleries, with sophisticated multiple views and zoom options. We also reach our audiences via digital newsletters, email blasts and researched articles, as well as traditional advertising in both digital and print media channels, and social media.
4. PAYMENT
We handle the entire transaction for you efficiently, discreetly and securely. After your item sells, and provided that payment has been received from the buyer, we will mail cheques and itemized statements to you approximately 35 calendar days after the date of sale. Alternately, we are happy to send payment via direct deposit.
Auction results (also known as “Prices Realised”) are available on our website shortly after the auction closes, and you will be notified by email about the final amount that your item or collection sold for. Please note that all prices on our website include the Buyer’s Premium.
If your item doesn’t sell, we often recommend putting it in a future auction, but with a lower reserve price. If you are not willing to lower the price or have had a change of heart, you are welcome to take the item back, free of charge, after the initial auction has ended.
IN CONCLUSION
Selling at auction is a fantastic and risk-free way to change, upgrade or liquidate individual pieces or entire collections, and leverage your assets. We are always happy to discuss the selling process in more detail or talk about specific items in your possession. Do not hesitate to call us at 416-504-9100 or email us at [email protected]
CONSIGN WITH US TODAY
Waddington’s is the right choice to sell your works of art, decorative arts, jewellery, wine or specialty items.
We are always interested in excellent examples of:
- Asian Art
- Canadian Fine Art
- Contemporary Art
- Decorative Arts
- Fine Jewellery & Watches
- International Art
- Inuit & Indigenous Art
- Prints & Photography
- Wine & Spirits
Please see our DEPARTMENT PAGES for details.
FIND OUT about our past auctions
SUBMIT a consignment request form
Interested in Consigning FINE WINE OR SPIRITS?
Vendor Agreement – Schedule A PDF
Meet Our Specialists
Our specialists are dedicated to providing the most accurate information and guidance. Choosing Waddington’s ensures that you will be assisted by some of Canada’s most knowledgeable specialists. Our staff are respected experts with access to international networks and resources.
Whether a simple valuation for sale or a complex inventory, we will provide you with the information you need to make informed decisions.