Consultation auction valuation, no reserve price, what is the concept of transaction price?

Valuation is the appraisal of the collection by the personnel of the auction company based on his experience, which cannot be accurate.

Entrusting an auction company to auction its own collection generally requires the client to set a reserve price. If the reserve price is not reached at the time of auction, the auction cannot be concluded. There is no reserve price, that is, the collection has no reserve price. As long as the bidder bids, no matter how much, it can be concluded.

The transaction price is the auction transaction price after the auctioneer drops the hammer, which is the market price of the collection.

At present, by overestimating the price of the collection, many fraudulent companies charge auction appraisal fees according to the percentage of the collection valuation. Be careful.