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<p>[QUOTE=&quot;Rich Beale, post: 7918519, member: 77960&quot;]Ultimately, bear in mind that auction houses exist plainly and simply to service the needs of collectors - in particular, those wishing to sell their collection. While auction houses these days earn their revenues mainly from buyers, it is the vendors to whom we have a primary obligation. </p><p><br /></p><p>For a responsible company, this obligation starts at the point of consignment. Standard operating procedure, at least for us, is to request a value for insurance purposes from the consignor before items are shipped/collected, precisely so that if they do go missing, the consignor is not left unduly out of pocket. And no, there would be no gain to us as the auction house, since the insurance company would require us to pay a £500 excess on each loss (as well as the claim possibly increasing the insurance premium for the following year).</p><p><br /></p><p>There are a lot of generalisations and misconceptions in this thread which I think might be best addressed elsewhere, perhaps in an “ask the auctioneer” thread, if anyone is interested.[/QUOTE]</p><p><br /></p>

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