A WARNING. Please beware of so-called auctioneers that recommend you to sell privately to their ‘active buyers’; they may themselves be buying the stamps from you at a less than generous price, simply in order to sell them later in their own auctions for a large profit! Cavendish is a consignment-only Auction House, where there is no conflict of interest due to an auctioneer selling his own stock.
PRIVATE TREATY SALES. Only in rare and very special circumstances does Cavendish advise clients to sell their material by Private Treaty (i.e. by private negotiated sale) because it is their belief that the auction system will nearly always bring you a higher net return. However, quotations for the charges for Private Treaty Sale negotiations of major collections can be provided.
VENDORS’ CHARGES. Competitive commission rates, based on a percentage of the hammer-prices of sold lots, are charged to all Cavendish’s vendors; these are summarised in detail in the ‘Professional fees’ page. Special terms can be negotiated for large and important Collections and ‘named’ sales. A few small additional charges are usually made to cover the costs of insurance, transport, storage, photography, etc. as appropriate; these are explained in the current ‘Professional fees’ page and are negotiable for larger properties. Cavendish occasionally conducts Charity Auctions (and includes lots offered on behalf of Charities in their regular auctions), and vendor’s commission is usually waived for such lots.
SAFEGUARDING YOUR STAMPS. Once the decision to sell the stamps has been taken, you can relax while Cavendish’s team starts their work on your behalf in earnest. Their sole aim is to achieve the maximum possible return for you. They therefore leave nothing to chance: The stamps are insured on your behalf from the moment you:- (a) post them to us (by a fully receipted postal/courier service), (b) hand them to our representative (be sure to check identification), or (c) bring them with you into Cavendish House in Derby. You then receive a signed receipt for them by return or in person, signed by a member of Cavendish’s staff, two carbon copies of which remain in Cavendish’s hands (one together with your material until it has been lotted and described). Meanwhile your stamps are placed in secure, atmospherically controlled, fire-protected, fully insured storage in the (ex-Bank) vaults at Cavendish House.
MARKETING YOUR STAMPS. Pre-sale Marketing commences at once (worldwide when warranted), with the 1000’s of collectors on Cavendish’s International mailing-list being the first to know, and access being available to Cavendish’s regular Worldwide network of advertisements in general/specialised/prestige Philatelic Magazines in many countries, and full exposure on the internet via Cavendish's website and electronic marketing. Regular Cavendish Newsletter items are also made available in hard-copy, by press-release and via the Worldwide Internet Web system to millions of collectors all over the globe. Likewise most of the leading specialist collectors around the world are known personally to members of the team, and so they are sure to hear of suitable material that comes up for auction at Cavendish. Major Collections are usually sold in ‘named’ catalogues or sections, with the collector’s own name most often being used, but with noms-de-plume being agreed for those who prefer anonymity.
DESCRIBING YOUR STAMPS. The material is assigned to the Cavendish expert-describer(s) with the greatest relevant knowledge, and the describing process begins. This is often preceded by detailed research of provenances, recent auction realisations, the published works on the subject, and Cavendish’s own extensive records of extant material (much of which is held in their extensive specialised philatelic library on computer and on shelves). Precision and accuracy are the watchwords of
Cavendish’s describers. They include an ‘Estimated Value’ beside the description of each lot; this is their expert
opinion of the likely price that will be achieved for the lot in question. Most lots are protected with a ‘Reserve Price’ below which they will not be offered in the auction (this is usually 66%-70% of the ‘Estimated Value’). When requested, the vendor can be kept in touch with developments, and they may be asked to add information or advice on lotting and/or describing. Specialist consultants with exceptional in-depth knowledge of unusual areas are sometimes also called upon to assist with verification/describing. Pre-publication computer proofs can sometimes be provided for the vendor of large and valuable collections, where time permits. Biographies and photographs of the collector are usually included in important ‘named’ catalogues, or for specialised sections of note. When the lots have been described using Cavendish’s purpose-built Philatelic Auction computer-system, they are specially coded and stored back in the vaults, pending numbering and catalogue production.
CATALOGUE PRODUCTION. Once a sale has been completely described, the final text is printed off and checked. As soon as it has been sent away to the printers, the items selected to be photographed in the catalogue are numbered and separated for photography/scanning. The rest of the lots are then numbered and put in order. The full text is then instantly available on Cavendishes's website while printed catalogue production can take up to 14 days, with colour photography, black-and-white photography, special text inserts, pagination, lamination of covers, binding and so forth, being undertaken in the quickest possible time; but a Cavendish describer always monitors the printing process itself to ensure quality control at every stage. Important collections are given separate catalogues, and a number of such Cavendish catalogues are now reference works in their own right, serving as permanent records of the collections and their compilers. Vendors receive complimentary copies with a printed list of their lot numbers to enable them to check the descriptions.
VIEWING FOR YOUR STAMPS. Viewing requests, photocopy requests and bids rapidly start to arrive at Cavendish House by post, fax, phone and e-mail. All are dealt with promptly by describers and other staff in equal proportion. Very often, most of the easily portable lots are also taken to London, York, Newcastle and/or other Stamp Exhibitions/Fairs where Cavendish have stands manned by their experts. All lots are available for viewing at Cavendish House in person for up to ten days prior to the auction day itself. Security is of paramount importance at all these venues.
AUCTIONING YOUR STAMPS. All too soon auction day itself comes round, and the morning is very busy with up to 150 people viewing lots in person, followed by an afternoon auction in the Manton Room in Cavendish House with all the major Auction Agents present, plus 100's of other bidders, and further ‘live’ bidders on the telephone. Within a few hours the buyer of each lot has been decided - only a proportion of the 1000’s of bids sent in by post/fax/phone in advance are successful, and bidders rarely get everything they want. If the auctioneer has done his job, many record prices have been achieved, and everyone has bought something, albeit perhaps at a rather higher price than they had hoped for!
YOUR RESULTS & PAYMENT. Within two working days of the auction, a printed list of your lot numbers, with the prices that they achieved, will be sent to you. The final cheque for your full sale proceeds will normally be sent to you five weeks after the sale, together with a detailed list of your lots, their hammer prices, and your commission charges. This period after the sale is needed to enable Cavendish to despatch the lots to their buyers (all over Britain and around the world), to process the many payments that result, to ensure that no errors have been made, and to allow for any post-sale expert opinions that may be sought.
CONCLUSION FOR SELLERS. It is Cavendish’s aim to ensure that their vendors enjoy seeing their stamps and related items sold professionally and successfully, while at the same time receiving an accurate (and often illustrated) printed record of their Collections and individual treasures. Whether they sell a few items regularly, or a lifetime’s Collection in one auction, Cavendish’s vendors continue to recommend the Derby specialists to all who will listen. The success of any auction business is based on trust; Cavendish’s team understands that vendors and buyers alike must both have trust in all their technical and administrative staff. The staff therefore aim to be approachable and friendly at all times, so that you too will enjoy working with them to sell your stamps. Please see Terms and Conditions for further information