02-03-2025, 03:56 PM
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Peter Spaeth
Member
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Join Date: Apr 2009
Posts: 33,554
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Quote:
Originally Posted by Eric72
As I understand it, whereas it pertains to auctions, the term "all proceeds" would typically mean the profit realized by the auctioneer.
Hypothetically, let's imagine the item sells for $1,200,000. Let's further imagine the BP is 20% and the consignor gets $1,000,000. In this particular example, "all proceeds" would equate to $200,000 minus any expenses incurred by the auction house.
So, the donation would be significant; however, it wouldn't be the entire hammer price.
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Donating the entire thing would be a drop in the bucket and great publicity for Fanatics.
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My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at
https://www.jamesspaethartwork.com/
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