Posted By:
Jay MillerI believe that insurance through UPS is 35 cents/$100. However, I think the major auction houses (read Mastro, REA) have seperate insurance policies to handle shipping. I would think that the rates they pay are less than the UPS rate, possibly significantly less. Could it be that they are using shipping as an additional profit generator? I don't know although I'm sure that it would not be the first time that this has been done. Perhaps someone from REA could comment on this and end the confusion.
BTW, Lew Lipset always charges actual USPS registered insurance costs and it appears from my invoice that Goodwin & Co. is doing the same. Kudos to those guys.