Otis doesn't charge consignors any fees to list or sell, which is extremely beneficial for sellers.

Instead, we charge the following fees around liquidity:

  1. Drop Fees - 5% (which gets charged to buyers)

  2. Trading Fees - 2% (split between both sides - currently not charging)

  3. Buyout Fees - 5% (split between both sides - currently not charging)


Most sellers want to understand the differences between working with Otis and a traditional auction website. We put together a calculator that highlights the differences as most auction houses charge:

  • 20% Buyer's Premium

  • 10% Seller Fees

Both of these are deducted from the "final price" of any lot. Here's an example:

Auction House

Otis

Total Price

$100,000

$100,000

Buyer's Premium (20%)

- $16,666

- $0

Seller Fee (10%)

- $8,333

- $0

Net to Seller

$75,000

$100,000

Conceptually, you could retain 25% of the asset with Otis, and net almost as much cash ($75K) at the drop close as you would at the hammer of the auction, all while holding 25% in equity that you can hold or act upon in secondary either via trading or a buyout.

By working with Otis, you can capture the entire value of the asset without all of the fees. It's a win-win-win for Otis, our investors, and the seller.

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