Quote:
Originally Posted by Exhibitman
I call Bu*****t here. Reading Mr. Ivy's reply I note that the lack of a buyer's premium and lack of shipping costs gives Heritage an automatic 20%+ advantage over every other bidder. That allows it to bid a "wholesale" price that is 20% or more over the real wholesale price. In other words, a $120 card really costs me a base bid of $100 plus a BP and shipping cost of $20+ but it would cost Heritage only the base bid. If it decides a card is "worth" 60% of retail it could bid $72 on that $100 card. If it doesn't get it, well it just drove up the price for the buyer. If the card is hot or rare and Heritage decides it is worth 80% of retail to own it, Heritage could bid my full base bid, forcing me to go even higher, past the retail level, to get it.
I feel soooo used...
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Adam -
I think a portion of the 20% is used to advertise, pay for the catalog and misc other expenses that they would not be able to recoup, so the house's advantage would be less than the full 20%.