This in turn gives you the ability to obtain a higher sale price for your timepiece rather than when looking to sell outright to us.
Let us explain....
When buying a timepiece from a member of the public we need to buy the piece in to stock at a price that allows us to resell the watch to the next person at a profit.
Watches that come into us require authentication, workshop, cleaning, and marketing. All this must be factored into the price in which we offer you for us to then sell the watch on whilst achieving our required margins.
Consigning to us means we don’t have to pay out in full for the watch, which makes our job easier and less of a risk to us.
Less of a risk to us means more of a reward to you!
Once the watch is in our procession it will be fully insured for the duration of the consignment.
GMG charge a 8% as a consignment fee. This can be negotiable on larger sales.
We require a minimum of 180 days on consignment with 30 days notice for withdrawal.
A minimum fee of 4% of the agreed price is applicable for any consignment when the watch is withdrawn within the first 90 days of consignment.
A minimum fee of 2% of the agreed price is applicable for any consignment when the watch is withdrawn within the last 90 days of consignment.
In addition, any costs incurred by Us throughout the consignment period will require to be paid in full before release.
A minimum fee of £200 is applicable for any consignment taken back after the 180-day term, regardless of the sale outcome.
Fees must be paid in full before the timepiece is released back to the consignee.
We require seven days to return Your consignment to you.
If you require Your consignment within seven days an additional £200 is applicable.
Example: Agreed net return of £10,000 is equivalent to a minimum sale price of £10,800.
4% fee of £10,800 is £432
2% fee of £10,800 is £216
Our fee covers for costings such as but not limited to; cleaning, marketing, insurance and storage.
Throughout the consignment period, all offers will be relayed to you directly for your consideration.