[atx840]

Im keep it simple on the BP side only as to clarify there is very little advantage to not paying a BP.

In theory HOC gets a lot for 20% less but then H&S is out that 20% buyers fee that every 3rd party bidder pays or would pay if they win.

So if H&S gets 10% of the hammer price from the consigner, who do you think pays that on the lots that HOC wins? HOC, so its not profit, either they get 10% from me or they get it from HOC. If they don't take their 10% and no BP then yes HOC gets the cards for 90% of the hammer price and a 20% BP savings. But now H&S is out that 10% and the 20%. I think its all even.

Now if they bid up and up and still don't win, then yes HOC is making H&S a profit on the 10% hammer price and the 20% BP for every increment they can raise it by.