Consignment VS Auction
Consignment is the act of consigning, the act of giving over to another person or agent’s charge, custody, or care of any material or goods but retaining legal ownership until the material or goods are sold. That may be done for the purpose of shipping the goods, transferring the goods to auction, or intending the goods to be placed on sale in a store (a consignment store).
The verb “consign” means “to send” and therefore the noun “consignment” means “sending goods to another person”. In the case of “retail consignment” or “sales consignment” (often just referred to as a “consignment”), goods are sent to the agent for the purpose of sale. The ownership of these goods remains with the sender. The agent sells the goods on behalf of the sender according to instructions. The sender of goods is known as the “consignor” and the agent entrusted with the custody and care of the goods is known as the “consignee”.
An auction is usually a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition exist and are described in the section about different types. The branch of economic theory dealing with auction types and participants’ behavior in auctions is called auction theory.
The open ascending price auction is arguably the most common form of auction in use throughout history. Participants bid openly against one another, with each subsequent bid required to be higher than the previous bid. An auctioneer may announce prices, bidders may call out their bids themselves or have a proxy call out a bid on their behalf, or bids may be submitted electronically with the highest current bid publicly displayed.
HOW DOES IT WORK?
In order for us to get the highest possible price for your valuables, they first need to be inspected and authenticated.
Shipment to us is free of charge via FedEx and is fully insured by FedEx.
- Describing your valuables can be difficult for most people
- All we ask of you is is to take a few pictures and text them to (214) 707-0324
- Schedule secure shipment with FedEx
Sit back relax we do all the heavy work
Your jewelry will be cleaned and photographed in HD, showing off every angle. This is followed by an objective third-party grading by industry-leading GIA (Gemological Institute Of America) experts.
We then create the auction listing for you and promote it through our extensive buyer network on multiple websites and social media. We assist you in setting up your reserve. Then all you have to do is sit back and watch the offers roll in.
- Beauty shots
- GIA Grading
- Auction listing created
- Set your reserve price
- Start your auction
View the trending price of your valuables and set your price. Get offers from vetted professional buyers in our marketplace as well as the general public, so that you can sell with confidence and trust to get more for your valuables.
As soon as the auction has ended, you will receive the final sale amount minus the Divorce Your Ring commission. Our commission is always a percentage of the price your valuable was sold for.
What this means is that we are incentivized to get the highest possible price for your valuables.
- Choose payment method
- Get paid — fast
- 1-2-3 it’s a win-win