Posted By:
WesleyI remember the same incident when Mastro raised it's buyer fees to 20%, that Cat is talking about. That increase to 20% caused quite a stir when that happened, with many collectors vowing to reducing their participation in Mastro or stop bidding in Mastro altogether.
What was more egregious about that incident was Mastro had already accepted consignments with consignors who thought the buyer fee was only 17 1/2 %. The 20% buyer fee was only revealed when the auction opened up for preview. Buyers can always factor in the fees into their bidding, but as a consignor I was unable to factor in this moving target.
This is exactly the type of disclosure and transparency that is crucial in the hobby and auction business.
I reduced my bidding for a few auctions, but like most people, I returned to bidding in Mastro taking into consideration the increased fees when placing my bids. But since that time, I have not sent additional consignments to Mastro.