auction fees and the damage done

[darwinbulldog]

I really need to pay closer attention to how much I'm really committing to when I place a bid. I'm so used to just figuring it's going to be an extra 30% with Heritage that I ignored the fact that it's much higher for cheaper lots. I won a single T206 common last night with a $31 bid, but the total bill comes to $77.93. Oops.

SubTotal: $31.00
*Buyer's Premium: $29.00
**Service and Handling: $12.83
Sales Tax: $5.10
Invoice Total: $77.93

[x2drich2000]

what auction house had a buyers premium of $29 on a $31 bid???

[ullmandds]

Originally Posted by x2drich2000

what auction house had a buyers premium of $29 on a $31 bid???

right?????? a 90% buyers premium????

[notfast]

They get you with a “minimum $29” buyers premium…Sucks.

[ullmandds]

Originally Posted by notfast

They get you with a “minimum $29” buyers premium…Sucks.

would u share the "house?"

[darwinbulldog]

It's Heritage Auctions.

[darwinbulldog]

Originally Posted by ullmandds

right?????? a 90% buyers premium????

More like 94% in this case

[tiger8mush]

yup, I had my eye on a number of lots that have ended in the past couple weeks in the $30-range, but the $29 min BP + high-as-hell shipping charges (should be $5 to ship a $50 card, not $13) kept me away.

[Fballguy]

Buyer's premium is the biggest scam running. How have collectors not revolted against this archaic policy?

[GeoPoto]

It seems to me that HA is saying to the consigner: "We don't want to list anything that won't sell for $145 or more. We recommend letting us combine it with one or more similar items so that the probable hammer exceeds $145. Or, we will list it with a minimum $29 BP. Your call." I don't see the buyer's complaint, unless the bidding rules were unclear.

Sent from my moto g(6) using Tapatalk

[mrreality68]

do any other Auction Houses have this same high minimum and lower priced cards?

[jamest206]

I messed up on that last night as well, after looking this morning. NOTE TO MYSELF, do not randomly bid while in bed half asleep. Once again, broke my golden rule to focus on one card per auction__WIN OR LOSE.

[Peter_Spaeth]

As a bidder, know what the premium is and factor it into your bid. The end.

[darwinbulldog]

I think some of you maybe didn't read my post. I'm not criticizing the auction house. I'm just offering my blunder as a cautionary tale.

[effe]

The minimum BP should be commensurate with the the projected dollar value of the lots offered. Either offer lots to get the value to level up to where the minimum fee is reasonable or lower it.

[Exhibitman]

It's like the old Teletrade. That system had a minimum commission. I remember I once netted a dollar on a lot of cards.

[GeoPoto]

It is per lot. If you don't want to pay more than $30, don't bid more than $1. No combined BP.

Sent from my moto g(6) using Tapatalk

[conor912]

A good friend of mine works in the high end art business. He says if there is one AH to steer clear of, it’s Heritage.

Personally, I wouldn’t pay out of principal alone.

[x2drich2000]

Originally Posted by conor912

Personally, I wouldn’t pay out of principal alone.

What principal? That you didn't read the terms or observe what the fees would be when they are shown or easily figured out? The OP in this case isn't making any excuses and realizes he got complacent in the way he estimated the costs.

[Fballguy]

Originally Posted by x2drich2000

What principal? That you didn't read the terms or observe what the fees would be when they are shown or easily figured out? The OP in this case isn't making any excuses and realizes he got complacent in the way he estimated the costs.

The principal that an auction house shouldn't have policies that discourage bidding?

[x2drich2000]

Originally Posted by Fballguy

The principal that an auction house shouldn't have policies that discourage bidding?

Then simply don't bid in the first place. If your placing a bid than you are agreeing to the terms even if you don't like them. Don't wait until you win to say you disagree with what you are going to be charged.