Cash Collection for Auction Houses and Salerooms: Sale-Day Takings, Buyer Premiums and Seller Payouts That Must Never Mix
A saleroom can take three kinds of money in a single day, and only one of them belongs to the house. Buyers hand over the hammer price plus a buyer premium, sellers are owed their lots’ proceeds, and the house keeps its commission. A cash collection auction house saleroom sale day routine keeps those three…