Get early access
to auctions and profit, even on the bids you lose.
Commit to buying the collectibles and art you value at a price you think is fair. If you win the bid, you own the piece. If you lose the bid, you can still profit.
Secure exclusive access
By registering as a guarantor, you get an early opportunity to bid on the sought-after collectibles being sold at leading auction houses.
Unlock a new way to profit
Commit to buying at a price you're comfortable with, and share in its success if it attracts higher bids at auction.
Diversify with confidence
Explore the dynamic world of auctions with less risk and a new way to earn financial returns.
Discover a new approach to auctions
When you commit to a collectible that captures your interest, you unlock a predetermined fee as a reward for your pledge to purchase. If your pledge is outbid, you take home a share of the upside between your guaranteed price and the final hammer result.
The White Glove boosts your investment potential and ensures you’re rewarded, no matter what the auction outcome.
How it works
STEP 1
Explore exclusive
art and collectibles
Get early access to our curated list of pre-vetted artworks and luxury collectibles waiting to be auctioned.
STEP 2
Submit your guarantee offer
Submit your guaranteed price offer to the seller for review. If accepted, you commit to purchasing the item if there are no bids surpassing the guaranteed price on auction day.
STEP 3
Confirmation
and auction
Once your offer is accepted, the item goes to auction, allowing you to participate in its success through your commitment.
STEP 4
Reap the rewards
If no one bids above your guaranteed price, you become the owner of the collectible. If the final price is higher than your guarantee, the other bidder wins the item but you share the upside with the seller at the agreed ratio.
FAQs
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As a guarantor, you agree to make a bid (called an ‘irrevocable bid’) for a specific artwork or collectible before it goes to auction. This bid is at a set price that both you and the seller agree on. Even if no one else bids, you promise that the seller will receive this amount. If others bid more than your guaranteed price, you and the seller split the extra profit, based on a percentage you both decided on earlier. But if there are no higher bids, you buy the item at the price you guaranteed. Guarantors are usually art lovers, collectors, or investors who really understand and value art.
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To become a Guarantor, just sign up on our platform and complete the ‘Know Your Customer’ (KYC) onboarding process. After you're approved, you can check out the available consignments for sale and make offers to guarantee them. Our platform makes it easy and clear for Guarantors, helping you every step of the way.
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Yes, guarantors can bid on items they've guaranteed. They just need to be registered clients of the auction house and place their bids through the auction house's platform. This ensures guarantors follow the same rules as everyone else bidding, which keeps things fair and transparent, and upholds the auction's integrity.
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The buyer's premium is an extra fee added to the final bid at auction. The winning bidder pays it on top of the hammer price. For guarantors, it's important to know about this fee because it affects how much they'll pay for an item if they win the bid. The fee changes depending on the auction house and is usually a percentage of the final bid. Guarantors need to consider the buyer's premium when figuring out how much they might spend on an item they've guaranteed.
Scenario: You are the winning buyer at an auction.
Winning Bid: £50,000
Buyer's Premium Rate: 26%
Buyer's Premium Cost: 26% of £50,000 = £13,000
Total cost to you: £50,000 (bid) + £13,000 (buyer's premium) = £63,000
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Guarantors, just like any other buyers, have to pay auction commissions if they buy the guaranteed item. These commissions are fees the auction house charges for helping with the sale. They're usually a percentage of the final bid price. The exact rate can differ between auction houses and might even change based on the item's final sale price. It's crucial for guarantors to know about these commissions from the start because they impact how much they'll spend on an item at auction. We suggest checking the terms and conditions of the auction house to get all the details on fees.
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As a guarantor, what you pay depends on how the auction goes:
If the artwork sells for more than the guaranteed price, you'll get a share of the money deposited straight into your bank account.
If the artwork doesn't sell for the guaranteed price or higher, you'll buy it for the agreed minimum price, and The White Glove will send you an invoice.
Just remember, how and when you get paid follows the usual rules of the auction house involved. Our platform makes sure transactions are safe and clear, so you can take part in auctions without stress.
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To place a guarantee, simply follow these steps:
1. Sign Up/Register: First, make sure you're signed up and have completed the KYC (Know Your Customer) verification on our platform. This helps keep everything safe and trustworthy for everyone.
2. Browse collectibles: Explore the collection of collectibles available for auction guarantees. We provide detailed information about each piece to help you make your choice.
3. Select a collectible: Choose one that interests you and that you want to guarantee. Think about its history, what's happening in the market, and how much you like it.
4. Submit your guarantee offer: Tell us how much you're willing to pay for the item. If nobody bids higher at the auction, you'll get it at this price. Also, let us know your offered percentage share of the upside if the auction goes over your guarantee. We'll show your offer to the seller.
5. Confirmation: If the seller accepts your offer, you'll confirm your guarantee commitment on our platform securely. This not only shows your support for the chosen piece but also allows you to participate in the success of its auction performance by having a stake in the outcome.
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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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You can guarantee as many collectibles as you want on our platform. But remember, when you guarantee something, it's a serious promise that might mean you have to pay money. So, before you guarantee anything, make sure you can keep that promise for each collectible you choose. This keeps our auction system fair and trustworthy, so everyone can trust the guarantees made.
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Our goal is to make the auction market fair and smooth, so everyone feels confident taking part. We do this by teaming up only with trusted auction houses that have strict checks to make sure everything is genuine. This means every artwork or collectible you see on our platform has been carefully checked by experts.
For artworks and collectibles that sellers upload directly and aren't yet with the auction house, we've got extra protections for guarantors. These protections kick in when the artworks get to the auction house, making sure they go through the same strict checks before the auction. Our legal stuff is set up carefully to look after your interests, so if there's ever a problem with authenticity, you're covered.
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The time it takes from guaranteeing an item to its auction date depends on whether the item is already scheduled for auction or newly listed for guarantee.
For items already consigned to auction houses, the auction date is set, so the time between guaranteeing and the auction is clear.
As our platform allows sellers to upload items seeking guarantees directly, the time to auction varies. This depends on factors like auction house schedules, the item's suitability for upcoming auctions, and logistics. We're working to make this process smooth and efficient by working closely with auction houses to match items with suitable auction events.
This flexible approach ensures a smooth journey to auction, whether an item has a set auction date or is newly listed. It maximizes opportunities for both guarantors and sellers.
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When your guarantee offer gets accepted on our platform, it becomes a legal agreement. This is important because it helps keep the auction process fair and dependable. Sellers trust these guarantees for their items because of this commitment.
We understand that things can change, though. If you start having doubts soon after your offer is accepted, please reach out to us as soon as you can. Our team is here to talk with you about your situation and find solutions that work for everyone involved. We always aim to balance everyone's interests.
It's important to stick to your guarantees once you've made them. Changing your mind after the consideration period can affect your standing in our community and your ability to join future auctions. If you have any questions or need to talk about your situation, feel free to contact us directly. We're here to assist you.
