Straw Poll: Buyer and Seller Fees

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Posted By: Dave Simon

Would like to get some feedback from the folks here on what they think reasonable buyer and seller fees should be for auctions online and off...

thanks.ds

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Posted By: WWW.TEAMSETS4U.COM

I always hated buyers fees.
I always felt that the expense should be part of the sellers.
I realize that the auction house has to make money like anyone else but anyting more than 10% is just greedy.

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Posted By: JimB

I think it is sort of irrelevent. When I bid, I add in the BP to the total in consideration of what I want to pay for the card. If I am consigning, I figure out what the bottom line is as far as what percentage of the total take the auction house will be keeping. Just some simple math solves the problem. Buyer premiums are just a way for auction houses to sound better to their consigners. Ex: "We will take it at only 5% commission on the hammer". Everybody knows, but they don't have to explicitly mention the 15% BP as well. It would be nice if it was made more straighforward, but I am not holding my breath.
JimB

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Posted By: Joann

I'm with Jim on this one. Although psychologically I tie acceptance of buyer's fees with quality of publication (think REA), navigability of web site, selection, etc, in the end it really doesn't matter.

It's really all about the house and the seller. If I want to spend $500 on a card, I'm honestly indifferent to whether it's $495 plus $5 buyer's fee or $250 plus $250 buyer's fee. It's the price, plus the service, just like any other buying decision. Because I have total control over my net outlay, fees become far less important.

But sellers have little to no control over what they will get, so fees are probably much more important there.

As to seller's fees I've never consigned before. But I don't think there is any such thing as a "reasonable" fee. At that point it's all capitalism. The buyer will spend what the buyer wants. The share that goes to the seller determines what the house has to cover cost and profit. The smaller that portion, more to seller, more business to house, etc etc etc.

Seller's fees should kind of go by the market based on value of house's service for price to seller, not a sense of reasonableness.

Just my two cent's worth.

Joann

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Posted By: Max Weder

Just don't ask Sotheby's and Christie's what they think commissions should be (For those you can't recall, http://news.bbc.co.uk/2/hi/entertainment/2375667.stm )

Max