Quote:
Originally Posted by earlywynnfan
(The latter means that the house actually loses money, since they don't get their buyer's premium from an outside source, which means they're already behind in trying to make a profit.)
Ken
earlywynnfan5@hotmail.com |
Really? loses money? outside source = WTF?
Any buyers premium paid out by the auction house to itself would be a profit to the auction house sales division in one column of the books and a loss to the buying division in another column.
You need not be an certified accountant to figure that one out.
The auction house is always in a better position to make money on any one item because they purchased at a discount.