Quote:
Originally Posted by ALBB
somebody is making out pretty good  |
In this way auction houses have a similarity to casinos: they always win.
Sure a bigger bid price brings a bigger take in fees, but since any sale earns consignment fees + buyer premiums, they win no matter what the bid price is. For them it seems as much about volume as anything, so they win the most if there is a lot of buying and re-selling and the same item passing through many hands as often as feasible....
(note: I've certainly done my fair share of "overpaying" for things I "need". I have settled into the perspective of this being an expensive hobby to keep, for myself, and not be concerned with it needing to pay for itself later)