Finders fee

[thescooper]

I have a question here folks, if I was to pay a "finders fee" to someone to find me a collection how do you suggest it works?
Or is there a standard % ?
Is it a bigger fee the bigger the collection?
How do I pay it?
Do I pay it after the transaction ?
Do I pay a smaller fee if the collection is not what I was looking for?
Any input would be helpful

[quitcrab]

What are you looking for ? I will find it for you.
I would suggest a straight payment if the person leads you to transaction in which you decide to buy.

[swarmee]

I've always heard 10% of sale price is a standard finder's fee.
So you buy a collection for $5,000, you would pay an additional $500 to the intermediary. Obviously you can negotiate either way.

[Suitntieguy]

Originally Posted by swarmee

I've always heard 10% of sale price is a standard finder's fee.
So you buy a collection for $5,000, you would pay an additional $500 to the intermediary. Obviously you can negotiate either way.

This

[CurtisFlood]

Originally Posted by swarmee

I've always heard 10% of sale price is a standard finder's fee.
So you buy a collection for $5,000, you would pay an additional $500 to the intermediary. Obviously you can negotiate either way.

Correct.

[Leon]

I really never heard of a standard finders fee. Learn something new every day..

[buymycards]

I have always paid a straight 10% of the purchase price to someone who leads me to a collection. Although in the last few months, I have procured collections (that I was not interested in), for 3 other dealers and none of them mentioned anything about a finders fee, but that is OK with me. I am sure that they will return the favor in the future.

Rick

[CTDean]

Originally Posted by Leon

I really never heard of a standard finders fee. Learn something new every day..

This may have been adopted from the antiques and fine art world. I've been
buying and selling since the 1970's, and 10% was a standard fee paid by the dealers for leads that resulted in a buy.

[Wite3]

In my 30 years of collecting..if I am asked by someone to find something, I have charged between 5% and 10% (did this a few times)...on the other hand, there have been times where I knew someone would be interested in items that I could not afford, was not interested in, or did not have expertise in. Over the years, I have sent messages to people about Colgan's chip collection, middy bread collection, an early 50s high end topps run, etc. Some sent me a little something and some did not. I certainly did not expect a finder's fee if I was just helping out a friend.

It just depends on what you are looking for and how you approach it.

If you post what you are looking for, you might just get information steering you in the right direction for free, and you can compensate or not. If you post that you are looking for something specific, are willing to pay a finder's fee, give specifics, and turn us loose...then expect to pay.

Joshua