Choosing an auction house can be a daunting task. Not all properties are equal, and a lot of research needs to go into choosing the right auction house. However, with a little planning, you can choose an auction house that is suited to the type of property you are selling. Concierge Auctions is one company Kirman has used for his luxury auctions. Its transparency allows potential buyers to get a better idea of what is on offer.
Luxury items have continued to gain popularity in the past year. At Artcurial in Paris, they made up 18 percent of the total sale last year and 10 percent of the total in 2019. At Sotheby’s, they have added special edition Louis Vuitton X Yayoi Kusama Keepall bags and Hermes Birkins to their collections, and they have even started offering works by Cy Twombly and Mark Rothko.
Luxury auctions are ideal for sellers who have high expectations, yet have yet to receive offers. However, this approach has its drawbacks as well. For one, the price is not guaranteed to be higher than the asking price. It is important to choose an auction company that has a high success rate. A good auction company will not only attract potential buyers, but also ensure that the quality of buyers is high.
When choosing a luxury auction company, make sure that the representative you deal with is responsive and gives you up-to-date information about the real estate market. An auction house that can provide this information will help you make the right decision on the price of your luxury property. In addition, the auction company representatives will help you decide whether to set a reserve price, which is a minimum price for the sale to go through.
