Auction glossary
Private treaty sale
Also known as · Private sale
- Definition
- A sale negotiated directly between a buyer and a seller through the auction house, outside the public auction, at an agreed price. The house acts as intermediary and earns a commission.
Private treaty sales suit consignors who want discretion or certainty of price, and objects that do not fit the auction calendar. They follow most of the same steps as an auction lot (description, valuation, invoicing, settlement) without the bidding.
In Selloff, lots can be sold outside an auction, for instance through fixed-price or offer sales, and consignor statements for such sales are generated from the consignors to invoice screen.
Request a demo
See Selloff running on a sale like yours.