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Buying and Selling Autographs through Auction Houses

Auction houses can be a great way to acquire and sell autographs. There are many hardworking and reputable auction houses in business for many years with impeccable reputations. Many of these auction houses offer collectors some of the finest autographs. However, there are potential pitfalls with unscrupulous auction houses that the consignor should know. Here are some of the fine points of concern:

- What is the track record of the autograph house?
For many years Remember when Auctions and RRauction were high profile auction houses. Remember when Auctions folded and went bankrupt. Consignors of their final auction were not paid for their autograph consignments, and guarantees of authenticity to clients of prior sales became worthless. RRAuction was sued in California Federal District Court for autograph fraud (Case 2:2007cv03482).

America's Autograph Auction Houses

America's autograph auction houses offer some of the best autographed memorabilia on the planet. Finding a reputable autograph dealer is essential when buying or selling autographs at auction.

There are many red flags to watch out for on the road to building or selling autographs through an autograph auction house. Knowing some of the red flags will help you avoid painful missteps.

Who owns the auction company?
Be careful when dealing with auction houses that are operated by a dealer but licensed by a friend or family member. Licensed owners of some auction houses issue mass-produced certificates of authenticity with preprinted facsimile signatures from third-party dealers who may not have even examined the autograph. Certificates of Authenticity issued by these dealers are practically worthless because your only recourse is through the auction house that sold you the item. AutographAlert has many informative examples about the uses and abuses of Certificates of Authenticity from auctioneers.

Online Autograph Auction Houses

Online auction houses can be a great way to acquire favorite autographs. The convenience of buying and selling autographs through this venue has gained enormous popularity. Here are the fine points to weigh when choosing the right online autograph auction house.

Find out if the auction house is owned by a reputable dealer and properly licensed

Some dealers have their auction house licensed by a friend or family member. The auction house then serves as a legal front to shield them from their customers or creditors. There is one operator of an online auction house on the East coast that is licensed in the name of a spouse whose primary job is selling jewelry and teaching classes on necklace stringing.

Consigning Tips for Autograph Auctions

Autograph auctions invoke the thrill of buying and selling autographs. Dealing with reputable auctioneers who abide by rules and regulations is the key to having an enjoyable and worthwhile transaction. Look over the following tips to make the best choice when selecting an autograph auction company to buy or sell your autographed memorabilia.

Is the auction house legitimately licensed for proper representation?

Some auction houses are licensed by an individual who has little or no knowledge of autographs, or who has very little to do with day-to-day company operations.

Certificates of Authenticity from Autograph Auction Houses

Most autograph auction houses issue Certificates of Authenticity (COA) to reassure their buyers that autographs in their auction are genuine originals. The term "authenticity" is a misnomer, since the certificate they offer is more accurately defined as a written opinion. Therefore, "Dealer Opinion" would probably be a more appropriate description for this type of certification.

Selling Signed Memorabilia through Autograph Auctions

Knowledgeable sellers have an edge when it comes to selling signed memorabilia through an auction company. Here are some of the key considerations:

Licensed Auctioneer

The licensed auctioneer should be a professional, full-time dealer. Work directly with a licensed auctioneer to negotiate agreements and handle your signed memorabilia.

Background Check

Be wary of auction companies that have a poor track record, or those that have been investigated by professional organizations or governmental agencies. RRAuction was sued for fraud in federal court and has reportedly sued an employee for embezzlement. The U.S. Attorney's office has filed fraud charges against autograph dealer Forrest R. Smith III for seven years of illegal auction activity.

Autograph Auctions

Autograph auctions can be a great way to buy and sell autographs. The number of autograph auction companies that offer online bidding has proliferated over the past few years. At last count there were over fifty major autograph auction companies with a presence on the Internet.

All that is good news for autograph buyers and sellers. With an increasing number of autograph auction companies, competition for your business has become fierce. Autograph auction companies advertise in magazines, place ads on the Internet, and conduct extensive marketing campaigns to solicit your business.

Selling Autographs at Auction

Selling autographs can be a daunting dilemma. Autograph sellers have a wide variety of choices that are likely to expand over the next few years. Whether to sell them on ebay, sell them directly to a dealer or another collector, or consign them to an auction house, or simply hold onto them until the right opportunity comes along are just some of the choices available to collectors who contemplate selling their autographs. Here are some key tips for selling autographs at auction.

Certificates of Authenticity for Autographs

Autograph collectors often find some measure of reassurance when buying or selling autographs that are accompanied by a certificate of authenticity or “COA.” However, the reassurance provided by a certificate of authenticity can be a false sense of security. Here’s how to properly view certificates of authenticity and avoid disappointment.

Certificates of authenticity from reputable sources can be helpful. Professionals with extensive experience with a signature in question may be able to quickly identify obvious fakes. An autograph by George Washington with a felt marker on a color photograph made on paper for laser printing is an obvious fake. But many educated and experienced professionals can identify subtle forms of fakes and forgeries. However, most significant errors in authentication are committed when a fake autograph us labeled as authentic.

Selling Autographs to Collectors

Selling autographs has never been easier. There are so many easily accessible avenues for selling autographs. Autographs are typically sold to dealers, auction houses, or directly to other collectors. Autograph sellers need to be aware of the upside and downside for each selling option so that they may wisely select the best choice for their circumstances.

The varieties of dealers who buy autographs are extensive. Some autograph dealers specialize in autographs by modern celebrities; others in autographs by historical figures, and some dealers specialize in niche thematic categories such as sports or music.

When Certificates of Authenticity for Autographs become Worthless

Certificates of authenticity for autographs can be a mixed blessing. When issued by reputable companies or individuals respected for their education and experience, a Certificate of Authenticity may enhance the credibility of an autographed item. However, the autograph collector should be aware of situations when a Certificate of Authenticity becomes no more valuable than a glorified piece of ornate paper.

Questionable Qualifications
When an autograph is accompanied by a Certificate of Authenticity issued by an individual without education or experience in autographs. For example, an autograph auction company on the East coast is licensed to an individual whose primary job is making jewelry.

How to Consign Autographs to an Auction House

Listing
Form a list of item(s) you plan to submit to an auction house or auction company.

Details
Add details to your list with as much pertinent information as possible. For example, descriptions of autographed manuscripts and documents need to include type of autograph e.g. typed letter signed, handwritten letter signed, size, date, and condition. Descriptions of books containing autographs need to include information about the book e.g. is it a first edition? and condition of accompanying dust jacket. Potential buyers also need to know details of any inscription that accompanies an autograph on a book or photograph.

Selling Signed Memorabilia

Selling signed memorabilia can be a worthwhile endeavor. Knowledgeable sellers have an edge when it comes to selling signed memorabilia through an auction company. Here are some of the key considerations:

Licensed Auctioneer
The licensed auctioneer should be a professional, full-time dealer. Work directly with a licensed auctioneer to negotiate agreements and handle your signed memorabilia. Selling signed memorabilia to legally recognized entities is important.