Quote:
Originally Posted by Aquarian Sports Cards
The history of BP is that it was started by Sotheby's and Christie's to give them a competitive edge in obtaining consignments. They could tell the consignor "look Auction A is charging you 40% but we're only charging you 25%" of course neglecting to explain BP.
Since it has become industry standard we're basically forced into charging it or trying to explain (and losing a lot of consignments) to consignors that paying 30% commission is no different than paying 10% with a 20% BP. It's a shell game, plain and simple, but one that you're basically stuck playing at this point.
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Again, it worked because Americans suck at algebra.