Consigning a work to auction is the one transaction in the art market where the person advising you is paid by the outcome rather than by the advice. Understanding what you will receive, and when, is therefore entirely your responsibility.
Here is the arithmetic, the timeline, and the clauses in the consignment agreement that matter most.
What You Actually Receive
The seller pays commission out of the hammer price, plus a set of costs that are easy to overlook when the specialist is describing what your painting might make.
Look at those two figures together. The buyer parts with roughly $56,000; you receive roughly $34,200. The house takes about $22,000 on a single object. That is not a criticism — it reflects real marketing, expertise and risk — but it is the number consignors most often fail to picture.
Seller’s Commission Is Negotiable
Unlike the buyer’s premium, this genuinely moves. Rates fall as value rises, and on important consignments the houses compete hard enough that commission can reach zero — or the consignor can be offered a share of the buyer’s premium, an arrangement known as an enhanced hammer.
The lever is competition. Approach more than one house, tell each that you are doing so, and ask for their proposal in writing. A house that wants the work will improve its terms. A house that does not will tell you, which is also useful information.
The Timeline
People consistently underestimate how long this takes. From first approach to money in your account is typically four to seven months.
Valuation and consignment discussions run several weeks. Catalogue deadlines fall roughly two to three months before the sale, and missing one means waiting for the next season. Cataloguing, photography and marketing occupy the interval. Then the sale — and then settlement, which is customarily around 35 days after the auction, and only once the buyer has paid.
That last condition matters. If the buyer defaults, you do not get paid on schedule, and the resolution is between the house and the buyer rather than something you can drive.
Five Clauses to Read Closely
The reserve. Confirm it is stated in writing, and that it cannot be altered without your consent. It should sit at or below the low estimate.
Withdrawal. What does it cost you to pull the work after signing? Fees can be substantial and are frequently calculated against the mid-estimate.
The unsold work. If the lot fails to sell it is “bought in”, and it is then burned for a period — the trade will know it did not sell, and reoffering it too soon depresses the result. Establish who pays storage in the interim and what happens next.
Warranties you are giving. You will warrant good title and, usually, the accuracy of the provenance you supplied. If a claim later emerges, that warranty is what the house relies on. Verify your own provenance before consigning rather than discovering a problem in a saleroom.
Guarantees. If the house or a third party guarantees your lot, you have certainty at the cost of upside — the guarantor typically takes a share of anything above the guaranteed figure.
Auction or Private Sale?
Auction gives you a public, competitive market and the possibility of a result well above estimate. It also gives you a public failure if the work does not sell.
A private sale through a dealer or the house’s private department is discreet, slower, and produces no burn if it does not conclude. Commission structures differ. The comparison is worth making properly before you commit, particularly for a work whose market is thin.
Frequently Asked Questions
What does it cost to sell art at auction?
Seller’s commission of roughly 10% at accessible values, falling as value rises and negotiable on significant works, plus insurance, photography and shipping. Expect to net around 85% of hammer on a mid-value lot.
How long does it take to get paid?
Typically around 35 days after the sale, and only once the buyer has paid. From first approach to settlement is generally four to seven months.
Is seller’s commission negotiable?
Yes, unlike the buyer’s premium. On important consignments it can reach zero, or the consignor may receive a share of the buyer’s premium.
What happens if my work does not sell?
It is bought in and returned. The trade will know it failed, which depresses any near-term reoffering, so most advisers suggest waiting before bringing it back to market.
Should I sell at auction or privately?
Auction offers competitive bidding and possible upside but public failure if unsold. Private sale is discreet and slower with no burn. Thin-market works often do better privately.
Part of our autumn 2026 auction season series. See also: the full season guide and buyer’s premium explained.
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