Commission fee percentage
Moseley Violins is pleased to offer to sell, on behalf of our customers, instruments, bows and accessories, with or without cases at a commission of:
Commission Rates for
(please note we are required to charge VAT on our fee)
|Commission Rate if repair charges outstanding - plus VAT||Commission Rate if no repair charges outstanding - plus VAT|
|Up to Sale Price of £500||We do not sell instruments on Commission under a sales price of £500 but may offer to buy at trade value.|
|Sale Price of £501 to £4,999||25%||20%|
|Sale Price of £5,000 to £7,499||20%||17.5%|
|Sale Price of £7,500 to £9,999||17.5%||15%|
For commission fees for instruments selling at £10,000 or more please enquire about fees.
The percentage indicated above is of the final sales price, before outstanding repair costs are deducted.
Quality of Instruments
We will only sell instruments which are in good playing condition and in working order as part of our policy of selling good quality products.
We will therefore expect the owner to agree to repair work we propose. The owner can pay the repair bill before the instrument goes on sale and attract a reduced commission fee as above or have the repair costs deducted from the final sales price.
For instruments with a sales price of £5,000 or more we require formal documentation as to the true source of the instrument. This can include written confirmation from the maker; an original and respected purchase document, or a certificate of valuation from a respected and independent valuer.
Where you do not have any of these we can help you obtain an independent valuation these but will have to charge for arranging this and in addition to any fees a valuer may charge.
These documents can also help increase the value of your instrument and possibly help to sell it more quickly.
Once a selling price has been agreed – signed agreement
An initial proposed selling price and commission fee of any potential commission sale instrument plus VAT is agreed with the owner by both the owner and a representative of Moseley Violins signing a Commission Sale Agreement. Two copies of the Agreement are signed with one being kept by each party.
Upon a signed agreement of the ownership of goods known as Commission Sale Agreement, Moseley Violins will undertake to sell instruments, bows, cases or accessories on behalf of the current owner.
Moseley Violins reviews instruments on commission sale every 3 months to assess interest. After a reasonable period Moseley Violins may approach the owner to agree a revised selling price if there has been insufficient interest. If the selling price is revised or terms varied, a new Agreement will be issued; will need to be signed by both parties.
Moseley Violins will keep the instruments safe, secure and insured.
Occasionally, minor changes in an instrument will occur so that string may break. To ensure the instrument is in good playing order Moseley Violins will replace the string with one of equivalent value – without further reference to the owner. Charges for this will appear on the final Commission Sales Settlement Note.
Notification of Sale – after 40 days
Once the instrument is sold we will notify you within 40 days of the sale. This is to allow for a customer’s right to return the instrument, within 30 days of the sale.
We will then ask for bank account details or if you prefer arrange to send you a cheque and issue a Commission Sale Settlement Note which will give details of the final selling price, the fees deducted plus VAT, and any outstanding repair costs deducted.
Promotion and Website photos
As a minimum the instrument will be displayed in the shop and made available for customers to try and take on Approval (see below).
We usually display photos and details of commission sale instruments on our website, and this will include taking and retaining photos. The photos will remain the intellectual property of the Moseley Violins.
Moseley Violins has an Approval Scheme (a maximum of 10 days) for potential purchasers to try out instruments or bows in the comfort of their own home or to be checked for suitability by their teacher at next lesson. In special circumstances only, after our prior consultation an extension of an approval/trial period may be granted.
Moseley Violins will insure the goods against theft, accidental damage, and /or public liability whilst they are on the premises, when out of the premises whilst on approval by potential purchasers and in transit.
Customers can ask for the return of their items left for sale on commission at any time provided all agreed improvements / repair costs are paid for.
Commission Sales – what we include in our fees
For all instruments we sell on commission we offer the following services:
· A fair assessment of market value but please note sales price may depend on how quickly you want to sell;
· A fair assessment of work needed to bring instruments to good playing order;
· Display in our shop with clear description and price;
· Take high quality photos and place them with details on our website, within 14 days after the instrument being ready for sale;
· Insurance whilst the instrument is on our premises and out on approval;
· High security on our premises including CCTV;
· Demonstration of instrument and sales advice to potential purchasers;
· The use of our trying out room to help customers choose an instrument;
· On most Thursdays, Fridays, and Saturdays, the benefit of a professional player and teacher to assist customers in the selection of an instrument, where required;
· An on-approval scheme - whereby customers can take instrument on Approval for ten days. This includes the loan of a case where one is not available;
· The facility for purchasers to pay by card (for which we are charged fees);
· Where eligible, the opportunity for purchasers to buy the instrument through the 0% interest Arts Council Take It Away Scheme, which we also subsidise.
For instruments over £5,000:
· Record a sound sample of a professional musician playing the instrument and place it on our website
· As part our review of progress, we will consider placing a small advert in the music press.
Working with you
If you have any questions or concerns, then please do discuss them with us.
We are here to help you sell your instrument.