What is a consignee in the context of auctions?

In the context of auctions, a consignee is indeed the person who receives property to sell at an auction. This role involves taking possession of goods or assets that belong to another party, typically the owner or consignor, with the intention of selling them on their behalf. The consignee is responsible for managing the sale process, which includes setting a suitable auction date, promoting the items, and sometimes providing expertise on the valuation of the items to be sold.

This relationship is fundamental to the auction process, as it allows individuals or businesses to leverage the auctioneer's expertise and network without having to sell their items personally. The consignee usually earns a commission from the sale proceeds as compensation for their services. Understanding the role of the consignee helps clarify how goods move through the auction system, highlighting the collaborative nature of auctions.