What are Auction House Fees?

Auction houses apply different fees depending on the services they offer. Some provide a standard fee structure, while others customize packages to suit individual clients.

There are three main types of charges that auction houses typically apply:

1. Lotting Fees – This is usually a fixed cost per lot, typically ranging from £1 to £5, though it can go as high as £10. Lotting fees cover the basic overhead expenses involved in running an auction.
2. Commissions – A percentage of the sale price, commissions can vary widely. Some auction houses charge as little as 0%, while others may charge up to 30% or more. This fee covers the variable costs of running the auction, such as marketing, staffing, and related expenses. Notably, the auctioneer’s profit often comes from the buyer’s premium, which is separate from the seller’s fees.
3. Storage and Collection Fees – These fees cover the costs associated with moving items and ensuring adequate space for storage. Logistics, including transportation and secure storage, is a crucial aspect of an auctioneer’s responsibilities.