Quote:
Originally Posted by Peter_Spaeth
I would think (or hope anyhow) that the sophistication of people spending hundreds or thousands of dollars in high end sports auctions is a little higher than people buying 10 dollar items on ebay. This thread could prove me wrong though.  |
I wasn't arguing with you. I thought it was an interesting study on ebay auction behavior, since many of us participate in ebay auctions.
As you can probably tell, I enjoy reading about buyer and selling behavior in auction formats since I participate in so many different auctions.
I would guess most auction houses will tell you that they separate the buyer's premium from the hammer price in order to reward their consignors by taxing the buyer. But, there is significant empirical evidence that such practices actually drive final costs up, and that the auction houses are well aware of that. Frankly, enough articles have been written about it to fill a small library.