Mastro raises buyers premium...

[Archive]

Posted By: ockday

I just got this email...20% is a BIG number!



The December Premium Auction preview is now on-line. Over 2,500 quality Sports & Americana lots are being offered in this very significant, upcoming sale, and it should prove to be one of the biggest events the hobby has ever seen! Catalogs will be shipped this week, and bidding begins Monday, November 20th.


Please Note - Effective immediately, Mastro Auctions will raise its Buyer’s Premium from 17.5% to 20%.


This will ensure that we do not have to compromise in any way, with respect to conducting our auctions in the industry's most thorough, professional and efficient manner. As a Company, we have always adhered to the principle that our customers demand the very best, and that they rely upon us to deliver at that highest level. We constantly apply this top-tier approach to every aspect of our business, from our custom on-line bidding system to our quality event catalogs, and in the most painstaking authentication and cataloging process in the business. This all costs money -- and the expenses associated with "going the extra mile" are always rising -- but it also produces extraordinary results. We didn’t want to bury this type of information in the small print of the catalog. Instead, it's best to communicate the new terms to everyone before the bidding starts ... on what we expect to be one of our largest offerings ever!


Sincerely,


Doug Allen
President
Mastro Auctions


www.MastroAuctions.com

[Archive]

Posted By: JK

highway robbery.

[Archive]

Posted By: Mike

Ridiculous. I wouldn't think of ever using them. Purely out of principal if nothing else. They don't sell anything, that I can't find elsewhere. Good riddance.

[Archive]

Posted By: RayB

for me. The Buyers premium at 15% alway kept me away from the Big Box Auction houses anyway. The prices are inflated to begin with, even on most items that are more mainstream and to tack on the Buyers Premium makes it unreasonable to even consider participating.
I'm just small fry I guess with my humble low grade T-206 effort.
The catalogs are fun to look at though!
RayB

[Archive]

Posted By: jim loewke

It won't keep me from bidding; it will cause me to think twice before I raise a bid when it gets to the higher end material. If others think the same way, bidders might be able to get a "bargain". Will this mean that the final prices will be a little lower? In the short term, I would say yes. But as we get used to it, final prices will keep climbing. Sort of like the gasoline prices this past year.

[Archive]

Posted By: leon

As always I will figure the buyers premium into the bid that I make. My real question is will this prohibit them from getting more material in the future? As a consignor I would have to think leaving at least 20% on the table is something that has to be considered. With that being said I do know that other auction houses are close to those fees.... 19.5% for Heritage.....and others are within a few percent too.....

[Archive]

Posted By: Wesley

The higher buyer premiums will affect the decision of consignors more than that of buyers. Buyers can just factor in the final price into their bids, whereas consignors have more money taken out of the bottom line.

This is a good opportunity for other auction houses to pick up more consignments.

[Archive]

Posted By: Jeff Prizner

If REA stays at 16%, could be a very nice opportunity for them to become the leading auction house. I was personally on the fence between Mastro and REA when deciding where to consign, and finally chose to go with the Dec. Mastro auction. After the news this morning, I definitely regret my choice and will be going with REA in the future.

I understand having to raise fees, but do it BEFORE taking consignments!

[Archive]

Posted By: leon

I absolutely want to continue this discussion but we have 2 threads going about the exact same thing. I am going to lock this one so we can keep it to one thread....thanks....