The art auction market is one of the most lucrative and glamorous industries in the world, with billions of dollars worth of art sold each year. There are numerous art auction houses across the globe, but the top 5 are Christie's, Sotheby's, Phillips, Bonhams, and Heritage Auctions.

 What percentage does an art auction house take?

How do auction fees work? The seller's commission at major auction houses, such as Christie's or Sotheby's, is 15%. On top of that, you'll be asked to pay shipping, LDL (loss, damage and liability insurance), as well as a hefty marketing and cataloguing fee. These are negotiable fees when it comes to consignment.

 What is the minimum consignment value for Sotheby's?

Expert specialists will research, create catalog descriptions, and help with marketing the work. Complimentary estimates are provided for each item that meets a minimum consignment value. For example, Sotheby's minimums are $5,000 in New York, £3,000 in London and HK$40,000 in Hong Kong.

 How do I know if my art is worth selling?

Consider finding an appraiser to determine the value of your artwork. Appraisers are trained specialists who work for a fee. They evaluate your piece and give you a written statement of its value.

Is selling to a consignment shop worth it?

You might not make as much as you would selling the items on your own because consignment stores typically split the profit 50/50. But it can be safer than selling through the classifieds or Craigslist (strangers won't be coming to your house)