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CONTRACT AND SELLING
Q: Is the sales contract competitive?
A: Consigning with RIAC is a
partnership, it is our responsibility to obtain the most money for your
collectables. Therefore we keep our contracts at a simple percentage;
we do not work with sliding scales which could work against you. Also
remember if a sales commission is lower at one auction house that does
not mean they are the best choice. There are many factors beyond the
sales commission. The bottom line is who will get you more money; that
is the auction house you should choose.
Q: Should I be concerned with “hidden type charges”?
A: We do not charge for photography.
We do not charge for storage. We do not charge for insurance. We do not
charge huge rates on cash advances. As stated above we keep it simple.
If you come across a contract that charges for insurance consider this:
if the sale grosses $12 million and each consignor is charged - let’s
say 1.5% for insurance the auction house is making $180,000 on
insurance fees alone (in one auction). We know for a fact that
insurance does not cost that much, this is a “hidden” fee so why 1.5%
for the insurance? Note that this along with the sliding scale
contracts are hidden fees.
Q: Does the auction company specialize in firearms or do they handle a broad spectrum of collectables?
A: Rock Island Auction Company is
dedicated to selling firearms and related items such as edged weapons
and military artifacts. Selling firearms is our business, our passion,
our expertise. We do not have any other distractions.
Q: Does everything that goes to auction sell? What is the history of items not selling at the auction company?
A: This is a very important question
to ask. This will truly tell you if the auction house is reaching a
large audience and is able to sell what they put up for auction. This
is a direct reflection of their marketing ability. It will also tell
you if they understand market value. For the past 6 years Rock Island
Auction Company has maintained a 97% sell through rate. We routinely
sell approximately 2750 lots in an auction and 97% truly sells!!! This
translates into only 3 out of every 100 items do not sell. If you check
out our closest competitor you will see that this past year they held
one auction in which over 33% did not sell!! This translates into for
every 3 lots offered for sale only 2 sold or to put that in comparison
to RIAC, 33 out of every 100 DID NOT SELL!! Potential buyers want to
participate at an auction where they have the highest chance of
obtaining what they have set their sights on. At RIAC potential bidders
know this is possible without bidding against huge house numbers that
do not represent the market place. With our consistent 97% sell-through
rate both buyers and sellers experience a real auction. Why bid at an
auction where every third time you hold up your card to bid the lot
won’t sell because you are bidding against the house? This deters
bidders and items simply will not sell. RIAC has proven the free market
is the place to sell. We have established world record sales and
understand that auction averaging will result in our seller’s being
satisfied.
ADVERTISING AND PROMOTION
Q: Question advertising claims that state the auction house is #1 or gets the highest return for your firearms?
A: At RIAC we sell 12,000 - 14,000
firearms per year! Our sales records are as follows: 2004 = $14.6
million, 2005 = nearly $16 million, 2006 = $19 million, 2007 = $28.6
million, 2008 = $31 million, 2009 = $28 million. No other firearms
auction company comes close. Rate of return? We can prove serial # to
serial # we get more money, simply ask us!
Q: How do I know that the auction will be well promoted?
A: Rock Island Auction Company is
the only auction house in the world to advertise with full page ads in
the Wall Street Journal, USA Today, Chicago Tribune, the Baltimore Sun,
Orlando Sentinel and dozens of industry publications. We also send out
a 12 page full-color brochure each Premiere auction to our massive
55,000 plus pre-approved client listing. Our internet presence is far
ahead of any other auction company. Check this fact out and you will be
impressed. Finally there is our state-of-the-art catalog which is
distributed world-wide. It has set industry standards and is proud to
have won a Gold Ink Award in the printing industry.
Q: How do I know the auction house will attract bidders?
A: Rock Island Auction Company
currently has 55,000+ pre-qualified buyers in our database. Ask for
proof of distribution of marketing materials. We know we more than
triple our competition in direct mail marketing. We are also aggressive
with web traffic soliciting via numerous e-commerce campaigns that will
bring your items directly to collectors from all over the world.
COLLECTION PICK-UP
Q: Does the auction company pick up collections?
A: RIAC travels all over the country
to pick up collections. We do not charge for pick up of large
collections. Also ask if the drivers of the auction company are
certified by the Department of Transportation?
Q: How do I know my collection will be safe while on the road?
A: We are insured to handle the most valuable of collections. All our drivers are D.O.T. certified.
Don’t wait until after the sale to say... “I wish I had known”. | 
