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#1
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From my understanding each HA person bidding, and winning, has to pay all BP.
They have profit centers, ya' know. And yes, I guess it does help consignors. Bummer.... I have won plenty of items from HA since selling my collection. I am at a loss in thinking why anyone would expect a bargain at an auction. But it seems as though some feel they are entitled to them. Hey, I like a great bargain too, I just don't feel entitled to them. Quote:
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Leon Luckey |
#2
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Quote:
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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. |
#3
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Not saying the practice is right, but they do indirectly pay the BP. Last edited by robertsmithnocure; 10-15-2019 at 11:42 AM. |
#4
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I see the point you and Corey are making about the economics. But I continue to think the concern about the house competing with its customers is a valid one from an optics viewpoint.
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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. Last edited by Peter_Spaeth; 10-15-2019 at 11:30 AM. |
#5
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It's more than just optics. Too much bad can go wrong. Some random thoughts that come to mind:
I am in no way saying this happens at HA, but it certainly opens up too many possibilities for profiting at the consignor's expense at any AH. Bottom line, if you are an AH, take the consignment, promote the sh*t out of it, and sell it to the highest bidder on the open market. That is your job. It is not to undermine a lot to resell it or undersell it when you don't own it. This is my last comment on this issue, and I will not be taking any more questions.
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Successful transactions on Net54 with balltrash, greenmonster66; Peter_Spaeth; robw1959; Stetson_1883; boxcar18; Blackie |
#6
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BP
When the auction house purchases an item, the auction house TEMPORARILY forgoes the BP, until they place it for sale again, and when it sells, they will regain the BP.
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Rick McQuillan T213-2 139 down 46 to go. |
#7
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I would imagine if employees are in the business of buying and selling, they could easily incorporate, fill out resale certificates and not have to pay sales tax. The small costs of incorporating and maintaining a business could be far smaller than the sales tax Chris mentioned that he and the Heritage employees pay. But when Heritage the company, buys an item, I would imagine they are not paying sales tax (because the item would be for resale), and if they are writing a check to Heritage or a BP, then the BP fee is a wash since they are writing the check to themselves. |
#8
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I had a tax number for a while, no incorporation, and all I had to do was fill out a form online. Totally free except for the effort to track that I had exactly 0 in-state sales over 2-3 years. |
#9
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It actually makes sense to me, as the buyers in this hobby, and probably any hobby for that matter, tend to follow the auctions with the best stuff. When deciding where to consign, a policy that offers a bit of insurance against an item falling through the cracks and closing well below market value might be the deciding factor in where to send it.
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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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