Regarding auction houses, don't forget the seller also pays a 10-20% fee for the AH to sell the item. Let's say for example an item sells for $100. The AH may get 25% from the buyer and 20% from the seller. Hmmm, high school math tells me that's about 45%. Also, they never owned the item but they did facilitate in getting the item sold; advertising, packaging, shipping, collecting the money, etc. etc.
Auction houses do provide a needed service in a lot of respects that a seller could never accomplish on their own. They also deserve to be compensated for what they provide. I would think the market would determine what type of commissions they receive, but I thought the same thing about grading companies.
Another thought regarding auction houses, don't think just because a large auction house is selling your item you will get a much higher price than selling it on your own. That's not necessarily true. I've sold a few items through an auction house, not a lot but a few. I was very pleased in that once I turned it in, I was done. Everything else was taken care of. I wasn't real thrilled with the prices they sold for.
Just imagine if a real estate agent received that kind of money from selling a house! Sign me up.
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