Consignment introduction terms
In short
- Asking for an introduction is free and doesn't oblige you to take the item.
- You agree your own terms with the seller, as with any consignor. We're not part of that contract.
- You owe a fee only on consignments from that seller that you take on within 12 months of the introduction, and only once they sell.
- The fee is the one you chose: 3% of the hammer, or a flat $150 / $400 / $800 (US houses) or £120 / £320 / £650 (UK houses).
- Tell us when it sells; we invoice after the buyer has paid you. The seller never pays us anything.
1. What we do
Sellers come to Estimonia wanting to sell an item and allow us to introduce it to auction houses. We send the item's photos and description to a few houses that fit it at a time, and to no more than 8 in all. When a house asks for an introduction, we email it and the seller together. The seller chooses who to consign with. We don't inspect, authenticate or value items for houses, and we are not a party to any consignment or sale.
2. The fee
You choose the fee when you ask for the introduction:
- 3% of the hammer price, or
- a flat fee, for houses in the US: $150 for a hammer under $8,000, $400 for $8,000–14,999, $800 for $15,000 or more, and never more than 20% of the hammer.
- for houses in the UK, the flat fee is £120 for a hammer under £6,500, £320 for £6,500–11,999, £650 for £12,000 or more, with the same 20% cap.
Hammer price means the winning bid, before buyer's premium, taxes, and the commission you charge the seller. If you sell the item privately instead of at auction, the private sale price counts as the hammer.
Per consignment, not per lot. The fee is worked out once on the total hammer of everything the seller consigned with you for one sale. Lots from the same seller in a later sale are a new consignment.
| Total hammer of the consignment | 3% | Flat |
|---|---|---|
| $2,400 | $72 | $150 |
| $9,000 | $270 | $400 |
| $22,000 | $660 | $800 |
3. When nothing is owed
- The seller doesn't consign with you.
- The lot doesn't sell, is bought in, withdrawn or returned to the seller.
- The buyer doesn't pay or the sale is cancelled. If we were already paid, we refund.
- The seller was already your consignor in the 24 months before our introduction. Just tell us within 14 days of the introduction.
4. How long it lasts
The fee applies to every consignment from the introduced seller that you accept within 12 months of the date of our introduction email, whenever it sells. After that, the seller is simply your client.
5. Reporting and payment
Please let us know when the seller consigns, and the hammer when the lot sells: use the item page from our email, or reply to any of our emails. We'll check in by email from time to time until the introduction closes. We invoice after the buyer has paid you; payment is due within 30 days, in US dollars for houses in the US and in pounds sterling for houses in the UK, by bank transfer. We may also ask the seller how the sale went.
6. The seller's details
Use the seller's details only to discuss this consignment. Don't pass them on, and don't add the seller to marketing lists without their separate consent.
7. Transparency
We tell sellers that Estimonia may receive an introduction fee from the house they consign with. The fee doesn't change what the seller pays, and your commission to the seller is yours to set.
8. Stopping and changes
Use the unsubscribe link in any item we send you, or reply to any of our emails, and we'll stop sending you items. Fees for introductions you already accepted remain due under the version you accepted. We never apply a new version of these terms to an introduction you already accepted.
9. Who we are, and the law that applies
Estimonia is operated by Reaktör Teknoloji Ticaret Ltd. Şti., Istanbul, Türkiye. These terms are governed by the laws of the Republic of Türkiye, and the courts and enforcement offices of Istanbul (Central) have jurisdiction over any dispute arising from them.
Questions: sedat@estimonia.com