FAQs
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The White Glove is the first online platform to offer auction guarantees, providing a unique opportunity for collectors to participate in auctions in a new way. We understand that auctions are great for selling valuable items because of the competitive bidding and wide reach. But we also know there are risks, like market changes and timing issues, that can affect auction results unexpectedly.
That's where The White Glove comes in. We innovate by connecting sellers with guarantors, making it possible for them to negotiate directly and anonymously to secure guaranteed outcomes. Guarantors commit to buying the item at a set minimum price, which protects sellers from uncertain auction results and lets guarantors share in the auction's success. Plus, our platform benefits auction houses by giving them access to our unique group of guarantors and bringing in more pre-guaranteed items to auction, making the whole auction system livelier and more dependable.
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Auction guarantees are a common practice, with the global market valued at billions annually. Recent data shows that up to 65% of major auction house evening sales are guaranteed, totalling about $3.65 billion in value just from the top 3 auction houses. This highlights the growing importance of guarantees in providing financial security and attracting valuable consignments. For high-end items, auction guarantees have become essential, giving sellers confidence in uncertain markets.
The White Glove takes advantage of this trend by making auction guarantees more accessible. We extend these benefits beyond artworks to various collectibles, empowering sellers, guarantors, and auction houses alike.
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Everyone involved in the auction process, whether directly or indirectly, is welcome to check out our platform. Our solution is especially appealing to sellers who want certainty in auction results and collectors who want unique opportunities to share in the success of items they support. Auction houses benefit from our special group of guarantors, which boosts their sales rates and brings in pre-sold consignments to expand their business. Brokers and dealers can also use our platform to offer more services to their clients. Our solution not only offers the certainty and privacy of direct sales but also combines it with the excitement of auctions.
The White Glove is committed to making the auction experience smoother and more rewarding for everyone involved, from individuals and institutions to enthusiasts and professionals in the auction world.
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Both reserve and guaranteed prices are intended to protect sellers during auctions, but they work differently:
Reserve Price: This is a hidden minimum sale price. If bids don't reach this price, the item isn't sold. It acts as a safety net for the seller without guaranteeing a sale.
Guaranteed Price: This ensures that the seller gets a specific amount for their item, no matter what happens at the auction. It's an agreement, often with a third party, that guarantees the item will sell for at least this amount. This provides sale security while still allowing for the possibility of higher bids.
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We're working on giving you direct access to tools and historical pricing data to help you figure out how much your items are worth. But for now, we've teamed up with expert appraisers who can give you personalised valuation services. This way, you'll get accurate estimates that match the market. If you need a valuation, just reach out to us, and we'll connect you with the right resources and experts to help you make confident decisions about your items.
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At The White Glove, making sure items are authentic is really important to us. We do this by teaming up only with trusted auction houses known for their strict verification processes. Every item you see on our platform, available for guarantee, goes through careful checks by experts to confirm it's real. These checks look at things like where the item came from, its condition, and any authenticity certificates it has, making sure it meets our high standards. This thorough process gives peace of mind to all our users and shows our dedication to being transparent and trustworthy in the auction world.
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Absolutely! With The White Glove, you can use any direct sale offer as a starting point to get an even better deal through our auction platform. Auctions often result in better outcomes because of competitive bidding, which might exceed the initial offer you received. If your offer is from a dealer or agent, they can join our platform and become a guarantor for your item. This way, you not only secure a minimum sale price but also expose your item to the lively auction environment where it could fetch a higher price. By combining your direct sale offer with our auction service, you're set to make the smartest and most advantageous decision for your item.
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The White Glove partners exclusively with reputable auction houses known for their success and integrity in the art and collectibles market. We meticulously screen potential partners to make sure they meet our high standards for quality, transparency, and customer service. This way, we give our users access to top-notch auction opportunities.
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Certainly! Currently, all features on The White Glove, such as listing items and receiving offers, are completely free of charge. Our platform is always evolving to better serve our community. We're working on exciting features like the ability for sellers to directly upload items, offering even more flexibility and control in the future.
As we expand and introduce new features, we may consider adding fees for certain premium features or transactions to maintain the high-quality service our users expect. However, any potential changes will be communicated transparently and well in advance, ensuring our community is informed and confident in their interactions with us.
For now, we encourage you to explore everything The White Glove has to offer at no cost, joining us in the forefront of auction innovation.
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At The White Glove, we take our guarantors' privacy and confidentiality very seriously. We make sure that guarantors can take part in auctions without revealing their identities. Instead, The White Glove handles all the transactions. This way, guarantors can join in discreetly and confidently, staying anonymous the whole time. But it's important to know that, if a guarantor can't fulfil their obligation (which is rare), we might need to share some details. We do this to keep things transparent and accountable in the auction process, which helps everyone trust each other and keeps transactions honest.
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