The Appraisal Process
Elder Fine Art offers free non-obligation appraisals for all works and items at its North Adelaide Gallery. We are open Monday to Friday 10am – 5pm
We will advise our clients an auction estimate as to what we believe would be achievable at auction. This is the estimated price that potential buyers will see in the catalogues for our auctions. We will then advise what would be the best reserve price to be placed on the items submitted for auction.
Once an estimate and reserve price has been set on a work, it will be booked into a forthcoming auction and our client will be provided a consignment invoice for the work confirming the sale it has been booked in for. It will also state the auction Estimate and Reserve prices as well as commission charges.
All works need to be booked in well in advance of an auction, as Elder Fine Art needs to catalogue, photograph, promote and advertise the works in the lead up to the sale.
Commission & Charges
Elder Fine Art has a starting commission of 13.75% (GST Inclusive).
If a particular work is not sold at auction and is returned to the client then there is no commission charge for that work.
There are no further charges for Cataloguing, Insurance, Illustration or lot listing. If your work requires any attention with framing or restoration, we can advise of these costs prior and help you with this process.
All works are covered by Elder Fine Art’s insurance when held on premises. Works that are in transit to or from our premises is the responsibility of the vendor and is not covered by Elder Fine Art.
Advertising & Promotion
Elder Fine Art’s auctions are promoted via many various mediums. Our Online Auction catalogue is available on our website up to two weeks prior to the sale with our email database being notified of our catalogue being available online and when the auction viewing has begun. All auctions are advertised in local papers and interstate papers. Our mailing database receives catalogues and brochures in the mail for all our auctions.
After the auction, buyers have the following week to pay and to collect their purchases. If your work has been successfully sold, payment will be made approximately 21 days after the day of auction via cheque to the vendor.
If your item is passed in at the auction, we wait to see if there is any interest shown in the work after the auction. If a buyer is interested in your item and has seen it not sell at the auction, they may offer to purchase it after the sale. If the offer is lower than your reserve price, then the offer will be submitted to you for your approval. If a work remains unsold, there is no charge for this work and will need to be collected by the vendor.