Quote:
Originally Posted by rdwyer
Most auction houses refuse to do Mimimum bids or Reserve auctions. Boo Hoo if the item doesn't sell. Most major auctions have a million in sales per auction. So what if one item doesn't sell. They make money either way whether your item sells for $10 or $10,000. Their interest is in protecting their butt and not the consignor's. They also claim they have to pay a writer to write a description, and the costs of printing the catalogs. That's part of the job. They wouldn't be printing catalogs if it affected their bottom dollar. Everyone needs to understand that the Auction houses make big bucks every auction.
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I may be wrong, but 20% gross margin before expenses doesn't strike me as a tremendous money making opportunity. Maybe the big boys turn a decent coin but the mid level guys, and their families in some cases, work their tails off year round to make a living.