Consigning question

[Snapolit1]

I know this may be pretty basic info, so apologies in advance. If I consign a card to an AH, is the BP taken off the top when they calculate what my return is? If I consign a card that's a 100K sale, they collect 120 from buyer. If they are returning the sale to me minus 5%, am I receiving 95K or 114K? (Unfortunately numbers used for hypothetical purposes only.)

[jfkheat]

How much you get is based on the final bid amount. Typically all of the buyer's premium goes to the auction house. On high dollar items, some auction houses will pay a small percent of the buyers' premium to the consignor.
James

[Snapolit1]

Thanks James. So in the above example, I will "lose" 20,000 of the purchase price because in most cases that goes entirely in the pocket of the AH. I would have to believe that I couldn't sell the card left to my own devices (eBay, BST here) for over 95K to make the consigning worthwhile.

[Jobu]

Usually you get the full bid amount and the AH gets the full BP (seller's fees would add another wrinkle to this conversation). Your example is a bit confusing because you have a 20% BP but have the AH returning the sale to you minus 5%. What I think you mean is that the AH is offering to give you 5% of the BP (while they keep 15%).

So, if the AH has a 20% BP a $100k bid ends up $120k with the juice. You get $100k, the AH keeps $20k. If the item is worth enough, or you consign enough with the AH, you might be able to get a portion of the BP. Using the numbers above, if the AH agreed to give you 5% of the BP, then you get $105k and they keep $15k.

[pokerplyr80]

Your example seems to indicate a 5% seller's premium, which means you would get 95k. I would not be very inclined to use an AH charging a seller's premium, and would expect a card with a value even in the 5 figure range to offer some percentage of the BP.

[Snapolit1]

Thanks guys. Very helpful. Considering listing a card that would be solidly at the front of the catalog and don't feel like making any missteps.

[Leon]

Originally Posted by Snapolit1

Thanks guys. Very helpful. Considering listing a card that would be solidly at the front of the catalog and don't feel like making any missteps.

If it is a big card ask one of our advertisers for 0% seller fee and 5% of the BP.....if the first one doesn't say yes then the second one will..... Any questions, PM me.....I hope all of our members will support companies that advertise with us....

[glchen]

Some auction houses will give you back a certain % of the BP if your consignment is over a certain large amount and you consign early enough. One example is Greg Bussineau auctions. At one time, they would give you 5% of the BP back if your consignment netted over $50K. Other auction houses may do something similar but you would need to negotiate with them.

[jbsports33]

If you have something over 1000.00, most of them offer 0% - really depends on the company you are talking with - some even want your items at 0% and value is no issue (Leon said stated the above as well)

good luck

Jimmy

[mechanicalman]

I recently looked into consigning 3 cards worth a total of $10K to a particular AH. I was told that there was a 15% sellers fee on top of a 20% buyer's premium. In other words, a 35% margin for the AH.

Considering that this particular AH's catalogs look more like a grocery store circular, I did not see the justification in offering 35% of the selling price to this entity.

Still looking to consign. I wish there was a resource that outlined the different fees for each of the AHs.

[MikeGarcia]

Originally Posted by mechanicalman

I recently looked into consigning 3 cards worth a total of $10K to a particular AH. I was told that there was a 15% sellers fee on top of a 20% buyer's premium. In other words, a 35% margin for the AH.

Considering that this particular AH's catalogs look more like a grocery store circular, I did not see the justification in offering 35% of the selling price to this entity.

Still looking to consign. I wish there was a resource that outlined the different fees for each of the AHs.

..are you sure of the numbers you were quoted ? 35% is off the charts...

..

[irv]

Originally Posted by MikeGarcia

..are you sure of the numbers you were quoted ? 35% is off the charts...

..

That is nuts!

[mechanicalman]

Originally Posted by MikeGarcia

..are you sure of the numbers you were quoted ? 35% is off the charts...

..

I'm not a Mensa candidate, Mike, but I'm confident I understand what was told to me and the simple math involved. When I pushed back, I was told this is standard practice with most AH's. I'm not confident that's the case, however; hence my decision to look elsewhere.

[frankbmd]

Originally Posted by mechanicalman

...................

Considering that this particular AH's catalogs look more like a grocery store circular, ..............................

Gosh, being able to shop for vintage cards, cheap whiskey and bananas in one place would be very appealing to me.

[ValKehl]

Steve,
Gary said the key word - NEGOTIATE!! If you have a front-of-the-catalog item to consign, you shouldn't be paying a seller's commission, and you should be able to snag a nice slice of the BP.