Fee charged by the auction house to winning bidder in addition to hammer price. This is how major auction houses make their money. The higher they take, the less given to the consignor on the bottom line. This can range from 15-25%.

James Spence is the lead authenticator for JSA and is widely considered to be the forerunner in the hobby. He started with PSA/DNA and was their lead authenticator until starting his own business in 2005. James Spence Authentication provides their services to some of the finest auction houses in the world, such as Sotheby’s.