Listing of all BP rates for Auction Houses?

[parkplace33]

Looking for all current BP rates for auction houses. Is there a website or document somewhere housing this information?

[Cory]

Here's the ones I know (note some were based on my last invoice from last year, so they could have changed recently) -

HA - 22%
REA 20%
Goldin - 22%
Collectors Connection - 17.5%
LOTG - 20%
Cleansweep 20%
Huggins - 20%
Fanatics - 20%
Sterling - 17% check/mo 20.5% paypal
Brockelmans - 15%
Collect Auctions - 20%

Personally I've found which ones charge sales tax to me or not makes a bigger difference. Oddly they weren't as easy to find as I would have guessed.

[Musashi]

Originally Posted by Cory

Personally I've found which ones charge sales tax to me or not makes a bigger difference. Oddly they weren't as easy to find as I would have guessed.

That will vary state by state for each auction house. They all collect sales tax for people in the same state that they're based in. For out of state sales, if their sales to a given state are a below a certain threshold, they don't have to collect sales tax or report it to that state. That threshold varies state by state. Once an AH has hit that threshold, there is no going back. They'll be expected to collect sales tax for that state. That's why the larger auction houses collect sales tax from everybody, while smaller auction houses only collect for a few, or just their home state.

[sbfinley]

RMY is super low, basically 8%. I remember being very presently surprised the first time bid with them. I believe Greg Morris doesn’t charge a BP last I checked.

[Fred]

Is there a list that shows all auction houses that apply state/local tax to the total (assuming no resale license) sale?

The tax rate where I live is 8.75% so it becomes relevant.

Some AHs don't add the taxes, some do. It was mentioned that there's some type of threshold whether tax is applied. It'd be nice to know that level.

It all adds up.

[CardPadre]

Originally Posted by Fred

Is there a list that shows all auction houses that apply state/local tax to the total (assuming no resale license) sale?

The tax rate where I live is 8.75% so it becomes relevant.

Some AHs don't add the taxes, some do. It was mentioned that there's some type of threshold whether tax is applied. It'd be nice to know that level.

It all adds up.

Only a few (I believe) collect for every single state. And some smaller ones are required to collect for no states except their own. Most have a list of states they have to collect for listed in their terms. So depends on your state. If you live in a richie rich state where lots of people collect...you're probably out of luck finding very many that don't collect for it.

[Snapolit1]

Some AHs that offer credit cards as a payment option -- and many do not -- will charge another 3%.

Originally Posted by Cory

Here's the ones I know (note some were based on my last invoice from last year, so they could have changed recently) -

HA - 22%
REA 20%
Goldin - 22%
Collectors Connection - 17.5%
LOTG - 20%
Cleansweep 20%
Huggins - 20%
Fanatics - 20%
Sterling - 20.5%
Brockelmans - 15%
Collect Auctions - 20%

Personally I've found which ones charge sales tax to me or not makes a bigger difference. Oddly they weren't as easy to find as I would have guessed.

[BobbyStrawberry]

Soon all the cards will be in vaults and there will be additional fees to get them out.

[Johnny630]

Originally Posted by BobbyStrawberry

Soon all the cards will be in vaults and there will be additional fees to get them out.

We maybe the last group of guys who want to actually possess their cards !

[Peter_Spaeth]

Brunk Auctions, which advertised here not long ago for an auction ending this week, appears to be 28 percent. Bid accordingly, I guess.

[BobbyStrawberry]

Originally Posted by Peter_Spaeth

Brunk Auctions, which advertised here not long ago for an auction ending this week, appears to be 28 percent. Bid accordingly, I guess.

Was buyer's premium a thing in the pre-internet days? Or was it a lower percentage?

[oldjudge]

Sterling has no catalog and charges 20.5%--how do they justify that?

[Peter_Spaeth]

Originally Posted by oldjudge

Sterling has no catalog and charges 20.5%--how do they justify that?

If people are willing to consign, why do they have to "justify" it?

[raulus]

Originally Posted by oldjudge

Sterling has no catalog and charges 20.5%--how do they justify that?

Supply and demand.

[ncinin]

Sterling charges 20.5% BP if paying via Paypal, that most auction houses do not accept.

If you pay via check, etc the BP is 17%.

[sbfinley]

Originally Posted by oldjudge

Sterling has no catalog and charges 20.5%--how do they justify that?

Originally Posted by ncinin

Sterling charges 20.5% BP if paying via Paypal, that most auction houses do not accept.

If you pay via check, etc the BP is 17%.

They also ship immediately if you pay with PayPal or are a regular customer. I’ve won auctions on Thursday night and received my winnings on Monday with Sterling. Don’t get me wrong, I love my half ton of catalogs I have around the house, but if the options were immediate shipping or catalog I’m taking the shipping.

[brianp-beme]

Originally Posted by BobbyStrawberry

Was buyer's premium a thing in the pre-internet days? Or was it a lower percentage?

I seem to remember Lew Lipset in one of his The Old Judge newsletters bemoaning the trend of auction houses switching from a system of charging only the consigner a premium to also charging a buyer's premium, something that was only common in the art world(?...might be remembering this part incorrectly). His newsletters were issued from the mid-1980's to early 1990's, so I think that this indicates that our hobby's auction houses started to make the shift during this time frame.

Brian

[edhans]

Originally Posted by Peter_Spaeth

Brunk Auctions, which advertised here not long ago for an auction ending this week, appears to be 28 percent. Bid accordingly, I guess.

It's 23% if you bid through their site and pay by wire transfer or check.

[Fred]

Originally Posted by Johnny630

We maybe the last group of guys who want to actually possess their cards !

I don't understand the vault concept. My thought is that if you are a "collector" or "hobbyist", then you're going to want to hold the card and possess it.

How many people on this board go with the vault collecting practice, and why?

[jayshum]

Originally Posted by Fred

I don't understand the vault concept. My thought is that if you are a "collector" or "hobbyist", then you're going to want to hold the card and possess it.

How many people on this board go with the vault collecting practice, and why?

I've never used a vault for a card I purchased, but I would guess avoiding sales tax on a large purchase is the main reason people would use one.

[raulus]

Originally Posted by jayshum

I've never used a vault for a card I purchased, but I would guess avoiding sales tax on a large purchase is the main reason people would use one.

I think there are some people who also use it to accelerate the selling process for something that they expect to want to sell in the near future. Send it to the vault, and then quickly flip it. I *think* that some vaults even give you a break on selling fees.

Some people also just keep some of their more valuable cards at a safety deposit box. I'm not convinced that a vault is really all that different.

I think if I were going to be away for a while, I might also consider a vault. Like if I was heading out on sabbatical or for a military or work assignment for a few years, or moving to a foreign country to try living there, then rather than stick my cards in storage or bring them with me, I might think about a vault.

[Peter_Spaeth]

Huh? With cards at a local bank, you can head right over and access them. How is that not different? The ten minute drive to my bank is just a bit more convenient than going to Delaware or California.

[oldjudge]

Originally Posted by edhans

It's 23% if you bid through their site and pay by wire transfer or check.

Oh, well that makes it very reasonable. Who is Brunk?

[raulus]

Originally Posted by Peter_Spaeth

Huh? With cards at a local bank, you can head right over and access them. How is that not different? The ten minute drive to my bank is just a bit more convenient than going to Delaware or California.

Yep, it’s close, and yet so far away. If I had to guess, people who have their cards in a bank safety deposit box probably don’t bother to look at them very often. But maybe you’re the exception!

[BobbyStrawberry]

Originally Posted by brianp-beme

I seem to remember Lew Lipset in one of his The Old Judge newsletters bemoaning the trend of auction houses switching from a system of charging only the consigner a premium to also charging a buyer's premium, something that was only common in the art world(?...might be remembering this part incorrectly). His newsletters were issued from the mid-1980's to early 1990's, so I think that this indicates that our hobby's auction houses started to make the shift during this time frame.

Brian

Thanks for the info, Brian

[Peter_Spaeth]

Originally Posted by oldjudge

Oh, well that makes it very reasonable. Who is Brunk?

Brunk just had a live auction of a pretty solid group of T205s and T206s from a collection. They're not primarily sports, it appears.

https://brunkauctions.com/

[Apple_Robert]

Originally Posted by jayshum

I've never used a vault for a card I purchased, but I would guess avoiding sales tax on a large purchase is the main reason people would use one.

I agree with your hypothesis. I wonder how many people actually read the ToS for the eBay vault service before sending the card off just to save some tax. I read it and quickly decided I will take personal charge of my cards.

[jayshum]

Originally Posted by Apple_Robert

I agree with your hypothesis. I wonder how many people actually read the ToS for the eBay vault service before sending the card off just to save some tax. I read it and quickly decided I will take personal charge of my cards.

What turned you off?

[edhans]

Originally Posted by oldjudge

Oh, well that makes it very reasonable. Who is Brunk?

They're generalists, like Heritage or Weiss. Andrew Brunk is an appraiser on Antiques Roadshow.

[Sterling Sports Auctions]

Hello,

I would like to clarify that Sterling charges 17% if you pay by check or money order and 20.5% if you pay by Paypal.

We also do not have to charge any sales tax on an invoice except for MN which is My home state.

Lee Behrens
320-219-1372

[Apple_Robert]

Originally Posted by jayshum

What turned you off?

For one thing, third parties are involved in the storage of cards.

"1. Items Accepted for Submission; Non-Conforming Orders; Restricted Users.

a. The PSA Vault Services include storage services at storage facilities operated by PSA or one or more third-party providers (each a “Facility”) for storage of permitted items only, as determined in PSA’s sole discretion. "

https://www.psacard.com/vaulttermsandconditions

Take a look at section 4b. That was another biggie for me.

[Apple_Robert]

Originally Posted by Sterling Sports Auctions

Hello,

I would like to clarify that Sterling charges 17% if you pay by check or money order and 20.5% if you pay by Paypal.

We also do not have to charge any sales tax on an invoice except for MN which is My home state.

Lee Behrens
320-219-1372

Do you offer the ability to pay with an electronic check, Lee, or just a paper check?

[Sterling Sports Auctions]

Hi Robert,

If you are talking about a service such as Bill Pay or a service that your bank offers to write checks, yes.

If I have to pay a fee to take payment then it is added to the invoice.

I have been working to get other forms of electronic payment but not much luck at this time.

Lee

[ruth-gehrig]

Originally Posted by Sterling Sports Auctions

Hi Robert,

If you are talking about a service such as Bill Pay or a service that your bank offers to write checks, yes.

If I have to pay a fee to take payment then it is added to the invoice.

I have been working to get other forms of electronic payment but not much luck at this time.

Lee

Not sure if Zelle is one form of payment that you are checking into but it is really convenient. Basically an instant bank to bank transfer with no fees involved on either end at least from what I've seen on both ends of it.

[Sterling Sports Auctions]

Zelle is not offered at my bank for business accounts. Not sure why but do call them occasionally to hopefully get that changed.

Lee

[Andy Sandler]

Hi Everyone,

At my www.AllSportsAuctions.com

the buyers premium is only 15%.

Consignors pay 10% and only 5% on anything PSA/SGC/Beckett graded!
Plus, on ANY item that sells for $500 or more, the consignor pays NOTHING!


I only charge sales tax for California.

Give us a try!

Thanks, Andy Sandler andy@allsportsauctions.com (914) 388-2940