Auction House Fees.....NOT!
 

I just posted this on an existing thread but thought that it deserved it's own.


It just occurred to me that by buying the several terrific pieces I won from Henry Yee's Auction that just ended, I SAVED approximately $750 in Auction House Fees !!!! :eek:

I don't know about you, but I can certainly use the cash to go and buy more cool stuff! ;)

Just my .02

My best, Jimmy

Henry Yee has such a large following that I'm surprised he hasn't ditched ebay for his own web based auction. Even if he didn't charge a buyer's fee he'd still make more money on the saved ebay fees.

I've asked him that before Dan and Henry felt that his business model was working pretty well at ebay so if it ain't broke...

He also made a good point that by staying with ebay, he is able to generate new customers without advertising.

Also, Henry's ebay email blast list is at 8700 people who have actually BID in his auctions. Pretty strong. He also gives personal service to VIPs as he makes himself very available to them. Just first-rate from top to bottom,

Nevermind.... Too slow trying to type on this cell phone, and Jimmy already eloquently covered each point I attempted to make.

Personally, one of the many reasons why I like Henry's auction is that it ends at a certain time. I love the way ebay works. You are not up all night and if sniping, you can steal OR pay your top dollar...IT IS A RUSH!

Secondly, ebay provides the software and its maintenance for the auctioneer. Even if the fees do seem large, it is a good deal if you do not want to invest 6 figures upfront in a new site and for an IT dork(five fig salary). No offense if anyone here is....I wish I had those skills and that extra cash:)

BUT...you are correct in that if some of these other auctions can do it, he should definitely be able to thrive based on his following and reputation. It is definitely the auction I look forward to most.

One other very important point...
 

Almost ALL of Lelands & Legendary's Photo Auctions have an OPENING bid of $100 PLUS the JUICE mind you. The better photos start at $200 $300 $500 or even MORE at times :eek:

That makes it pretty damn hard to get a great deal, hell make that even a good deal. 99 cents baby!

I stopped considering the buyer's penalty as a "separate cost" long ago. In other words, I don't look at a $1,000 bid as a $1,000 bid and a $150 auction fee. It's a bid of $1,150, and I've accordingly factored in whatever percentage the house applies. It makes little difference to me how an auction house breaks down the money I've paid for an item. Heck, if they want to designate 90 percent of that $1,150 as a buyer's premium, what do I care? The bottom line is I've paid $1,150 for the item.

Fair enough Rob...
 

But how about an opening bid of $120 or more on just about every photo in the catalog? How does that size up to 99 cents in your opinion?

Absolutely, opening bids are a different matter. I was referring to buyer's premiums/penalties and the thought that a bidder "saves" money by bidding in auctions that don't have them.

.99 cents
 

If the items is highly sought after, than starting you bid price at .99 cents usually will get a higher price in the end than starting it $100.00.

For example, a signed Mantle ball w/ a starting price of .99 cents will close btw. $450.00 to $550.00 but a Mantle ball w/ a starting price of $300.00 may close at $350.00 to $450.00.

If you want to make the big bucks ya gotta roll the dice and place your item at .99 cents. Lastly, under a buck no listing fees!

BINGO Anthony!
 

All of this is fine and good but what I think makes these auctions so competitive and fun is that ebay's increments are just about perfect. Nothing will kill the excitement of an auction faster then a 10% increase that most of the houses use. Keep it tight and so many more people will go along for the ride.

Absolutely Jimmy, it is nice to be able to bid in increments one feels comfortable. I have stopped bidding on an auction item when the increments become to high. kind of a shame but that is how it goes.

As a collector, I think we are really fortunate to have several options compared to the late 80's/ early 90s. Today it can be eBay, the many auction houses, the local card shop, and/or card shows. Now w/ a wider selection of choices to buy, I feel my collection has just become so much better and I really appreciate it a lot more.

Most of us know when and where to strike and lay our money down w/ the various buying options and usually I'm going to put myself in a situation when I can save few extra bucks & get those prized items.

Jimmy, good job on getting high quality photos w/out throwing down the extra buyer's premium.

You started three threads about Henry Yee? Really? I agree that starting these photos at .99 is more fun than say when you whip open a large catalog and see a still of Larry Doyle with a $100 starting point. Plus I do like Yee's variety of baseball items.

By starting auctions at .99, you are gambling and who is to say these high dollar items would have fetched more somewhere else, like Lelands who gets incredible prices as well. Plus there was this thread a while back that I found on the Net54 as this topic was discussed once before. (his prices)

http://www.net54baseball.com/showthr...&highlight=yee

He, like everyone else, pays...what? With Paypal 15-16%? By the next time his next auction rolls around, he may have to pay 17-18% It's just a matter of time before he takes his show on the road. Ebay is pure evil and doesn't like the idea of people running auction, no-mo.

Look at SCGaynor, who I had the same girlish enthusiasm for his unique weekly auctions as you do about Yee, but that enthusiasm has come to a halt as it's all about the retail store and hiked up prices.