Best method of selling completed models

I'm now at a stage in my model engineering where I need to think about selling a couple of my completed models. I've looked at the usual online auction sites but none specialise in one off handmade engines. If anyone has had experience of selling their models I would be interested to hear their experiences. Thank.

Mick.

Dreweatts auction house have an annual auction of models and locos

This year's has just happened but the link will give you an idea of values

**LINK**

HTH,

Rod

Depends where you are situated but Lacey Scott in Bury St Edmunds have regular model auctions. I would imagine there are others - Gildings did do model IC engines for instance

I'm approaching the same situation myself but not expecting much from auction house returns what with the premiums to be taken into account.

Best of luck with it

Tug

I personally hate auction houses, they make far too much money from any item auctioned.

Using Dreweatt's own figures as an example.

For an item which achieves a hammer price of say £1500.

The buyer pays £2000 once the buyers premium and VAT are added

The seller receives only £1167 of the £1500 hammer price once the sellers premium, other costs and VAT have been deducted.

That means the auction house makes £600 (that's more than half of what the poor seller receives) on that sale The VAT man also takes his share,

Auction-eering is a good way to make money.        Selling model-engineering by auction is not.

Mike

Edited By mike T on 20/11/2022 19:39:42

Edited By mike T on 20/11/2022 19:40:02

Edited By mike T on 20/11/2022 19:41:33

Edited By mike T on 20/11/2022 19:41:53

Like everything else, models are only worth whatever someone else is prepared to pay for them. As time spent, special materials, skills and ingenuity may count for nothing, the seller has the job of getting the best price he can, and it's not easy.

The advantage of a specialised Auction is the model is exposed to people interested in and likely to buy models! It's a quality audience. With luck two enthusiasts will fight to the death for the honour of buying it, but don't be surprised that no one bids or it goes for a song on a bad day. Setting a reserve price might be prudent. The downside is it's a professional service that runs a venue and pays staff and tax. The service is paid for by you, but you hope the item covers the pain by selling for big money.

Advertising on this site and the magazines is free, but I'm not sure either are read by rich collectors. Worth a try though.
Online auctions like ebay are popular because they have an enormous audience. This increases the chance that two or more people will want to buy it and throw money at you. Online auctions also take a cut, and there's some risk of getting into a dispute : someone buys it, it arrives damaged, or they disagree with your description!

Plenty of antique, house-clearance, and second-hand shops take models, but don't expect top dollar from them. I occasionally see adverts in the mags and local paper from dealers, but they too have to make a living from it. Expect to get about half what they think the going rate is.

Private sales are usually the best way to maximise value because there's no tax or overheads. All you have to do is find a customer who wants it...

If I was selling a particularly fine model, I'd go the specialised Auction House route because they're aimed at serious collectors. Otherwise, an online auction because the audience is huge, and several people might be keen. Online, you have to put the effort in to sell it: several good photographs and an accurate description.

Dave

I think Dave has more or less nailed it. The ME market is small and diverse. An auction is the means most likely to determine the true market value of a model at any given time. The wider and more knowledgeable that auction audience is, the better for the seller.

For fairly unexceptional models, I think Ebay has a lot going for it, being easy to use and with wide coverage, although there can be problems with arranging delivery of large, delicate items and both buyer and seller take some risk.

All such services have a cost, althougth this is likely to be offset by a better sale price. Ebay has fairly frequent offers which reduce the normal commission paid on a sale.

Would agree with the Ebay route. I have sold a few models this way and have not had any problems.

Although I do pack them very carefully and securely to avoid damage.

Geoff

Yes I would agree too though I always take several images of the item as it's being packed and the finished package as security. Can't be too careful these days

Tug

Food for thought many of the larger model dealers stock there shelves from the auction houses, but if you buy from a dealer you get some form of garantee or a try before you buy. I was out bid on a small model only to see it listed on ebay for twice the price and sold.

Paul

Paul,

Can you list some of the 'larger model dealers' you refer to?

Mike

Mike

The dealers that spring to mind:- Steam Workshop, Station road steam, Antique steam, Steamdays, Used Myford lathes, View Models & Maxitrack. Several of the material suppliers allso sell used models MJ engineering & GS models.

Hope this helps Paul

Thanks Paul

That is a very comprehensive list of dealers, longer than I expected. The list may also be of some use to those with the unfortunate task of clearing an estate

Mike

Quick update. I contacted Maxitrax from the list Paul supplied mainly because they are only about 30 miles away from where I live and they have been very helpful. They will either sell your model and take a commission, this would result in a higher price for the seller, or they will buy the model for half its estimated value.