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#1
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AH Blues
Well, I managed to get through the avalanche of auctions over the last few months and am still nearly solvent. But I just don't under stand the allure of PWCC as a consignor. I initially thought they were primarily a dumping ground for lower condition graded cards, but some of the more recent stuff on Ebay was pretty impressive. Here is my query: Why would a consignor go to PWCC with, say, a PSA5 T206 Cobb Green and pay a scheduled fee when he/she could take it to a national AH and pay nothing?
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#2
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Quicker $ maybe?
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#3
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Math
If the same PSA 5 Cobb sells for $20k through PWCC and $20k through an auction house, the consignor will cash a check for north of $18k from PWCC and somewhere around $16.6k from the AH.
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#4
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Consigning Fees
Quote:
On a high dollar item, the consignment fee is ZERO for many, many AH's including the biggies. At most they will charge 5% on items under $1000. Some AH's will even give you an extra few points back!! They need stuff to sell. A Green Cobbie will be a featured item and will draw more bidders who will find other stuff to bid on!
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Frank Evanov |
#5
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Saying that, a consignor usually wants to find the auction house or consignment shop that they believe will give their items the most visibility, the right buyers, and the auction ending type they believe will bring the highest price for them. There are also other factors such as the service of the AH, the payout speed, and other perks such as cash advances, discounted grading, etc. |
#6
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Apparently what you call it matters more to people than the math, Sam. So in your example the AH consignor isn't paying anything he's just taking in less money.
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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/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#7
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From now on I am mandating that I pay a 20% Sellers premium on my consignments and there will be NO buyers premium. Isn't that better now, Peter? The buyers won't be paying any fee now.
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Leon Luckey Last edited by Leon; 05-21-2018 at 05:46 AM. |
#8
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Rob will be thrilled that he won't have to pay a premium.
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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/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#9
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There's that question again that nobody wants to answer.
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R0b G0u13t |
#10
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Very true, Peter. I also didn't take into account the many folks who want to spend $20K on a PSA 5 Cobb and bid that amount in an auction, only to receive a surprising bill for $24K.
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#11
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When that happens to me I get really pissed.
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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/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. |
#12
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This is a good question and the answer lies in the difference in the fees charged by PWCC and whatever the AH you choose. Taking a look at your example, a PSA 5 green Cobb is probably somewhere in the $15-20k range now (i could be off on that, but simplicity lets just use $15k for an example).
PWCC charges 8% commission for any card over $5k. So if the card sells for $15k, the seller will net $13,800 and PWCC gets $1200. Most premier AH's charge around 20% buyers premiums (yes I know there are AH with lower BP and for a card of this price you could probably negotiate some percent of the buyers premium but just trying to keep it simple). In order for the consignor to net the same amount as he would with PWCC, the hammer price before the BP would need to be $13,800. Add the 20% buyers premium and the customer would have to pay $16,560. So that would mean the card would need to sell for $1500 more in the auction house for the consignor to net the same amount. As a consignor you need to ask yourself which is more likely to happen and make your choice which way to go from there.
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Current Wantlist: E92 Nadja - Bescher, Bridwell, Cobb, Donovan, Doolan, Doyle (with bat), Lobert, Mathewson, Miller (fielding), Tinker, Wagner (throwing), Zimmerman E/T Young Backrun - Need E90-1, T216 (all versions) E92 Red Crofts - Anyone especially Barry, Shean, and Evers |
#13
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This thread has me laughing my butt off. On a serious note, if PWCC is only charging 8%, how are they making money? Doesn’t eBay charge them about 10% after their sale? What am I missing here?
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#14
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I'm sure because they sell in large quantities, they've negotiated a deal with eBay to pay a much smaller fee.
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#15
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Once again, the small guy gets screwed. Oh well, life goes on.
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#16
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Quote:
__________________
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/ He is available to do custom drawings in graphite, charcoal and other media. He also sells some of his works as note cards/greeting cards on Etsy under JamesSpaethArt. Last edited by Peter_Spaeth; 05-20-2018 at 10:12 PM. |
#17
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Successful transactions with peter spaeth, don's cards, vwtdi, wolf441, 111gecko, Clydewally, Jim, SPMIDD, MattyC, jmb, botn, E107collector, begsu1013, and a few others. |
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