LOG Auction:Tom Brady's got NUTHIN' on This Inflation!!

[clydepepper]

Love of the Game is taking 23% on top of winning bids.

I have gotten used to the 20% from other auction houses...has anyone seen buyers' premiums this high?

I will probably pass on this and toss future catalogs from them



c

[1952boyntoncollector]

Originally Posted by clydepepper

Love of the Game is taking 23% on top of winning bids.

I have gotten used to the 20% from other auction houses...has anyone seen buyers' premiums this high?

I will probably pass on this and toss future catalogs from them



c

Heritage charges what amounts to that due to sales tax in many states...yes they dont get the tax but its money the buyer pays thats not paid to pwcc if you arent in oregon for example.....i believe pwcc moved from califonia to oregon so people from california saved on tax

[clydepepper]

Well, after that shock, I do read further that they offer a 3% discount for payment via check or money order and they 'strongly recommend' paying that way.


But, to me, this signals a time soon where the buyers premiums will be that high with NO discount offered...so I'm still very cynical about it.

[glchen]

LOTG is only 23% if you pay by credit card or you pay after 14 calendar days after the invoice is sent to you. If you pay by check within 14 days then the BP is the typical 20% you see from most other auction houses. Goldin has a similar policy. Their BP is 22.5% if you pay by credit credit card or after 10 calendar days. If you pay by check within 10 days, then it is the 20% BP again.

And of course, Christie's is still the BP "winner" with a 25% BP regardless of payment method (and not even including their enormous shipping charges).

[BeanTown]

Christies is 25% Plus tax if they are in your state, Plus storage charges after a certain time frame, plus shipping and insurance which must ship overnight FedEx shipping at your expense. No discounts based on payment methods, and no lee way on shipping a more economical way. My hunch is they charge the consignor fees too.

[skelly]

Maybe I'm just not a serious enough collector, but to me the buyers premium is an extra kick in the face, and I just can't be motivated to buy from auction companies... I'll take my chances buying graded cards on ebay from time to time and getting the "bucks."

[gnaz01]

Catalog came today, Al. Awesome, bids are in......

[CW]

Originally Posted by skelly

Maybe I'm just not a serious enough collector, but to me the buyers premium is an extra kick in the face, and I just can't be motivated to buy from auction companies... I'll take my chances buying graded cards on ebay from time to time and getting the "bucks."

You simply figure in the additional premium when placing your bid. So if you are willing to actually pay $100 for a card and the AH charges 20%, you simply bid up to $84 and stop (the BP will bring your total up to $100). This is how most folks do it -- even the non-serious collectors.

[aljurgela]

Originally Posted by BeanTown

Christies is 25% Plus tax if they are in your state, Plus storage charges after a certain time frame, plus shipping and insurance which must ship overnight FedEx shipping at your expense. No discounts based on payment methods, and no lee way on shipping a more economical way. My hunch is they charge the consignor fees too.

My shipping bill alone was $2800 for my Christie's order! Wow! No other alternative.... but if I do it on my own, I have to pay NY sales tax, which is even higher! Wow! Everything else seems like a bargain!

[Exhibitman]

Let's maintain a little perspective here, folks: 3% is $3 on every $100. For the vast majority of purchases and purchasers here it isn't going to break the bank. And you can always send a check if it ticks you off.

What I'd love to see just for convenience is an AH with no BP. The item sells for what it sells for and the consignor pays the commission he negotiates with the AH. End of whining.

[Stampsfan]

Originally Posted by aljurgela

My shipping bill alone was $2800 for my Christie's order! Wow! No other alternative.... but if I do it on my own, I have to pay NY sales tax, which is even higher! Wow! Everything else seems like a bargain!

Wow! Did you win several cars in the auction?

[1952boyntoncollector]

Originally Posted by glchen

LOTG is only 23% if you pay by credit card or you pay after 14 calendar days after the invoice is sent to you. If you pay by check within 14 days then the BP is the typical 20% you see from most other auction houses. Goldin has a similar policy. Their BP is 22.5% if you pay by credit credit card or after 10 calendar days. If you pay by check within 10 days, then it is the 20% BP again.

And of course, Christie's is still the BP "winner" with a 25% BP regardless of payment method (and not even including their enormous shipping charges).

Plus people get cashback on their credit card from 1-2% so paying 2.5% isnt really costing them 2.5 percent more....

[Snapolit1]

30% to NJ residents like me who want to use Paypal. A steal!

[conor912]

Consider it a 3 point lazy/impatient charge.

Factor it into your bidding. He could charge 50% for all I care. I'd just adjust my bidding and carry on.

[Al C.risafulli]

Love of the Game is taking 23% on top of winning bids.

I have gotten used to the 20% from other auction houses...has anyone seen buyers' premiums this high?

Hi all:

Just a quick point of reference on this: our buyer's premium is, for all practical purposes, 20%, similar to many other auctions.

What's different between us and many other auctions is that in addition to accepting payment via check or money order, we also accept payment by PayPal and credit card. We've always felt that this was a great convenience to offer our customers - however, doing so costs us as much as 4% of the entire transaction. At this point, roughly 50% of our customers pay this way.

While we've tried to shoulder as much of that expense as possible for as long as possible, it is extraordinarily difficult to do so, particularly in our Premier auction, which includes a full-color printed catalog. Therefore, we were left with two options: discontinue taking PayPal and credit cards, or figure out a way to be competitive with the market, while still offering the PayPal and credit card option.

After our last catalog auction, we spoke to a lot of customers about this, and many of them really like having the ability to pay by PayPal or credit card. So we elected to continue to offer it as a payment option. However, we need to be able to capture the fees that we are charged to offer this convenience.

As such, we elected to raise our buyer's premium to 23%. HOWEVER, should you elect to pay by check or money order, we discount the buyer's premium by 3%, to 20%. It is our hope - and our strong suggestion - that bidders will pay this way, and take full advantage of the discount.

I hope that this makes things clear to anyone that has a question or did not quite understand the update the way I'd written it in the catalog (which some of you should be receiving today).

-Al