Quote:
Originally Posted by Exhibitman
Since the commission and the buyer’s premium both are paid to the auctioneer from the proceeds of the sale, they are functionally the same, so why have BP? Why not just take the 22% from the overall gross proceeds? If you’ve read my columns for a while you know my answer: it is a jazz hands misdirect. Labeling it a “buyer’s premium” tends to suggest that it is not a "commission" and that the buyer pays the “buyer’s premium”. That’s a bullshit framing, but a significant percentage of the public falls for it.
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Quote:
Originally Posted by Aquarian Sports Cards
Pretty sure I've posted it before but it was Sotheby's and Christie's that started BP in the art world for exactly the reason Adam posits. Basically it let them tell consignors "Hey we're charging you less" even though we know the reality. Unfortunately once an entire industry adopts a practice it's hard to fight that. If I went to my clients and said we don't charge BP but we charge a higher commission I don't think I could talk fast enough to make that work.
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Kevin Savage Auctions has no buyers premium added onto final bids. I have never looked into consigning with them so I don't know what their consignment fees are, but they have to be getting paid by someone to stay in business.