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Option 3) Card still sells for $1,000 and the buyer has to pay an extra $111.10 and the seller gets $1,000. The notion that every winning bid has been deflated by the value of the BP is ludicrous.
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R0b G@@13t |
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This thread has become ludicrous. This, on the other hand, is Ludacris.
Carry on... |
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Rob, in your example (option 3), the buyer now pays $1,111.10 total, not $1000. All you did was add an extra $100 in bids to option 2. So why if a bidder has $1000 to spend (options 1 & 2) would they not factor in ANY additional charges (buyers premium/shipping/service charges/handling/etc) and why would they place that extra $100 bid? If your answer is cause they did not count on the additional fees, please explain how the auction house is responsible for the buyer not reading the terms and conditions prior to bidding.
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Current Wantlist: E92 Nadja - Bescher, Bridwell, Cobb, Donovan, Doolan, Doyle (with bat), Lobert, Mathewson, Miller (fielding), Tinker, Wagner (throwing), Zimmerman E/T Young Backrun - Need E90-1, T216 (all versions) E92 Red Crofts - Anyone especially Barry, Shean, and Evers Last edited by x2drich2000; 05-22-2018 at 07:37 PM. |
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Last edited by mechanicalman; 05-22-2018 at 08:14 PM. |
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These defenders of the BP are living in an illusion.
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R0b G@@13t |
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OK, lets take your premise that the BP doesn't suppress the bidding and follow the logic. Why is that a bad thing for the auction house or the consignor? The auction house is in business to make money and the consignor wants to get as much as they can. Neither are responsible for the actions of a buyer. If the buyer overpays, both the consignor and auction house make more money. The buyer knows the rules before they place a bid and they choose to bid or not. The buyer is not forced to bid. If the buyer can get the same item cheaper on Ebay or wherever, then what is their motivation to bid in the auction? All the auction houses I've seen make the buyer's premium clear in the rules and usually include an example demonstrating how the fee works in connection with the bid. If some one is willing to voluntarily bid without reading the rules of the auction then that is their fault and no one else. It is not the consignor's or AH's job to protect people from themselves. Buyers need to be responsible for themselves.
Now Scott has very clearly outlined the history and reasons why the AH keep the seller's fee at 0%. So if it not the AH's job to stop people from bidding, and both the AH and consignor benefit from the masses of people who don't read the rules, how does changing to a 0% buyer's premium benefit the AH or the consignor? In addition, I can't speak for others, but personally, I buy almost all the items I sell on Ebay from AH. How am I able to make money doing so if the AH with their 20% buyer's premium is more expensive and I'm also paying over 10% in Ebay fees when I sell the item?
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Current Wantlist: E92 Nadja - Bescher, Bridwell, Cobb, Donovan, Doolan, Doyle (with bat), Lobert, Mathewson, Miller (fielding), Tinker, Wagner (throwing), Zimmerman E/T Young Backrun - Need E90-1, T216 (all versions) E92 Red Crofts - Anyone especially Barry, Shean, and Evers |
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..
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My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
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The Magic 8 Ball Auction House
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FRANK:BUR:KETT - RAUCOUS SPORTS CARD FORUM MEMBER AND MONSTER NUMBER FATHER. GOOD FOR THE HOBBY AND THE FORUM WITH A VAULT IN AN UNDISCLOSED LOCATION FILLED WITH NON-FUNGIBLES 274/1000 Monster Number Nearly*1000* successful B/S/T transactions completed in 2012-24. Over 680 sales with satisfied Board members served. If you want fries with your order, just speak up. Thank you all. Now nearly PQ. |
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No auction house. .
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Leon Luckey |
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Most recent PSA 5 1953 Topps Mantle at Heritage: https://sports.HA.com/itm/baseball/1...ype=share_btn_ Most recent PSA 5 1953 Topps Mantle at Ebay: http://r.ebay.com/TqUFOY http://r.ebay.com/3Cu8Ei http://r.ebay.com/DHs7mR http://r.ebay.com/CkXc3U http://r.ebay.com/nKMPi6 http://r.ebay.com/r9bCu1 http://r.ebay.com/PZfZFd Let me know how much money you would've made on this card.
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R0b G@@13t |
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It's all marketing, guys. No matter how many math examples we run, the fact is that consignors hate hearing about a commission. That's why a high BP is the norm: most AHs will waive the commission for a decent consignment. Just like shipping. REA (hi Brian) doing the free shipping is brilliant because shipping pisses off so many customers. It is a minuscule part of the overall invoice from the AH in most cases but it feels like dirt in your eye, especially when the AH charges for insurance to value and you just know that they have a blanket insurance policy that covers to a set limit regardless of value, so it is a profit center.
Scott B is definitely spot-on about other fields and what AHs charge there. We are lucky that we (consignors) can usually get a no commission deal. Try selling an entertainment item; you are nearly always going to pay 35%+ total because the AHs that deal in those materials do not waive their commissions unless the item is astounding. As for BP splits, well, if you are offering a $100K card for consignment, you have leverage to get a piece of the BP. Nothing wrong with that. I am not surprised people use PWCC for some nicer stuff. It gets the eBay customer base of eyeballs, the rate is substantially lower than most AHs charge, and cards to cash is fast as compared to other outlets. I don't know what others experience, but it is very frustrating when I consign an item in January, not see it hit the blocks for months and not get paid for another 30-60 days. Particularly if I have a use for the funds and can't wait half a year or more to get to paid.
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Read my blog; it will make all your dreams come true. https://adamstevenwarshaw.substack.com/ Or not... Last edited by Exhibitman; 05-23-2018 at 01:36 PM. |
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I know there are a lot of stupid people out there, but what percentage of people do you really think dont take the buyer's premium into account when making a bid? Maybe they do it once, then realize when they get the bill. Unless guys are knocking back a few beers waiting for extended bidding to end, I dont see your example coming into play often.
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Successful transactions with peter spaeth, don's cards, vwtdi, wolf441, 111gecko, Clydewally, Jim, SPMIDD, MattyC, jmb, botn, E107collector, begsu1013, and a few others. |
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