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The consigned property requires a signed Consignment Agreement, a legal document delineating the terms of sale. When you consign property to Doyle, you will receive two copies of our Consignment Agreement. One copy should be signed and returned; the other kept for your records. Once we receive the property, we will send you a Contract Schedule listing the property, the planned sale dates, the estimates and the reserves, the agreed-upon seller's commission and other related fees.
Doyle will determine a low and high estimate range for each item with you. This information is published in the auction catalogue and will be publicly available to bidders.
A reserve may be agreed upon prior to sale. The reserve price is a confidential minimum selling price. Unless a specific reserve is arranged, a discretionary reserve is fixed at fifty percent of the low estimate. If the consignor designates a reserve on a lot, and it remains unsold, there will be a buy-in fee charged on the reserve price.
A preliminary settlement statement itemizing the hammer prices, commissions and fees is mailed to the consignor after the auction. For real time sales results, you may view hammer prices or track your consigned property in the MY DOYLE section of our Web site. You may also call us at 212-427-2730 for prices realized.
Payment to consignors is mailed five weeks after the date of the sale, together with a final settlement statement. The amount of payment is the hammer price of each lot successfully sold, less the commission and any other fees.
If a buyer was not found for your item, Doyle's Consignments Department will contact you to discuss re-offering or collecting your property.
Doyle's Scheduling Department is available to assist you with packing and shipping arrangements for consigned property. You may also coordinate with the Scheduling Department if you use your own shipper.