How to Sell

The ‘getting started guide’ for selling on RMG Auctions.

Steps on how to Sell

Step 1 - The Initial Appraisal (Valuation)

The first step is to determine if your items are suitable for auction and what they might be worth.

Prepare Photos: Take clear photos of the items you wish to sell (including any damage or serial numbers).
Contact RMG: Use the contact details on their site to send these photos and a brief description.
Specialist Review: An RMG specialist will review the items and provide an Auction Estimate (the price range they expect the item to fetch).

Step 2 - Signing the Mandate (The Contract)

Once you agree on the estimates, you must formalise the relationship.

The Sales Mandate: You will sign a legal agreement (mandate) that gives RMG the right to sell the items on your behalf.
Agree on Commission: This contract will outline the Seller’s Commission (the fee RMG takes from the sale—usually a percentage) and any marketing or transport fees.
Set a Reserve Price: Decide on a "Reserve"—the minimum price you are willing to accept. If the bidding doesn't reach this amount, the item will not be sold.

Step 3 - Asset Handover & Cataloging

Delivery/Collection: You will need to deliver the items to the RMG warehouse or auction site. In some cases (like large estates or machinery), RMG can arrange collection (usually at the seller's expense).
Professional Cataloguing: RMG’s team will take professional photos, write detailed descriptions, and assign your items to a specific upcoming auction "Lot List."
Marketing: They will then promote your items to their database of buyers via their website, social media, and email newsletters.

Step 4 - The Auction Process

The Live/Timed Auction: Your items will go live on the Lot List.
Monitoring: You can watch the bidding in real-time. If the bidding surpasses your reserve price, the item is considered "sold" as soon as the hammer falls.
Subject to Confirmation (STC): If the highest bid is below your reserve, the item may be marked "STC." RMG will contact you to ask if you want to accept the lower offer or put the item back into a future auction.

Step 5 - Payment and Settlement

Buyer Payment: The buyer typically has 24–48 hours to pay for the item.
Settlement Period: Once the buyer has paid and collected the item, RMG processes the payment.
Receiving Funds: You will receive the final "Hammer Price" minus the agreed-upon commission and any VAT. This is usually paid out via EFT within 14 to 21 days after the auction closes.

Feel free to reach out via WhatsApp or email; we’d love to walk you through the platform and help you get started.