Raped by Heritage

[barrysloate]

The only issue I have is people who do not have to pay sales tax have a nearly one increment advantage over those who do. Since I live in NY, where sales tax is I believe 8.875%, I can't tell you how many lots I lose in Heritage by a single bid. I am the first underbiddder on a regular basis. So if the person who beat me lives in a state with no sales tax, he has a big advantage.

That said, it's the law and it is transparent. It just adds an extra hurdle for me to overcome, and can be frustrating.

[pokerplyr80]

Originally Posted by barrysloate

The only issue I have is people who do not have to pay sales tax have a nearly one increment advantage over those who do. Since I live in NY, where sales tax is I believe 8.875%, I can't tell you how many lots I lose in Heritage by a single bid. I am the first underbiddder on a regular basis. So if the person who beat me lives in a state with no sales tax, he has a big advantage.

That said, it's the law and it is transparent. It just adds an extra hurdle for me to overcome, and can be frustrating.

Might be time to get a po box in a state with no tax.

[barrysloate]

Originally Posted by pokerplyr80

Might be time to get a po box in a state with no tax.

I have a second home in Florida, and lo and behold, another sales tax state.

[pokerplyr80]

Originally Posted by barrysloate

I have a second home in Florida, and lo and behold, another sales tax state.

I'd rather have no state income tax than no state sales tax.

[barrysloate]

Agreed, but Brooklyn is my primary residence.

[Yoda]

Originally Posted by barrysloate

Agreed, but Brooklyn is my primary residence.

Hey Barry, at least you don't get hit with both NY and FL sales tax on your winning bids----yet.

[barrysloate]

Originally Posted by Yoda

Hey Barry, at least you don't get hit with both NY and FL sales tax on your winning bids----yet.

Hi John,
Well I haven't told then about Florida yet.

[Dewey]

Originally Posted by pokerplyr80

I'd rather have no state income tax than no state sales tax.

I'd rather be able to own a second home.

[sycks22]

Joe's Vintage auctions doesn't charge a BP, they take their money from the consignors based on the closing price.

[bensie]

Originally Posted by pokerplyr80

Might be time to get a po box in a state with no tax.

Or get a resellers license. That's how I get out of paying sales tax. As far as people asking about seller's fees, I've always been able to negotiate negative rates (ie the auction houses pay me a percentage over hammer). However, I typically consign $10k+ at a time.

[bensie]

Oh, and I factor in shipping and premiums on all my bids. I have a spreadsheet that tracks it since each house has different rules.

I've won tons of stuff through heritage. I love those guys, their auctions are always fun. A lot of it runs past my budget pretty quick, but it's still fun to try!

[Fballguy]

Originally Posted by bensie

Or get a resellers license. That's how I get out of paying sales tax. As far as people asking about seller's fees, I've always been able to negotiate negative rates (ie the auction houses pay me a percentage over hammer). However, I typically consign $10k+ at a time.

I'm sure yours is the typical experience.

[bensie]

Originally Posted by Fballguy

I'm sure yours is the typical experience.

Hey man, y'all asked. I'm giving you an actual data point. Take it for what it's worth. I know Sirius publishes negative rates too. Go check their website

[cardsnstuff]

Originally Posted by barrysloate

The only issue I have is people who do not have to pay sales tax have a nearly one increment advantage over those who do. Since I live in NY, where sales tax is I believe 8.875%, I can't tell you how many lots I lose in Heritage by a single bid. I am the first underbiddder on a regular basis. So if the person who beat me lives in a state with no sales tax, he has a big advantage.

That said, it's the law and it is transparent. It just adds an extra hurdle for me to overcome, and can be frustrating.

But that is only if AH is in your home state; for me I pay the PA people an extra 6%. So we have the same hurdle just with different AH's.

[ullmandds]

I feel like I got a little pipe .

[guy3050]

You guys have it good !!
I live In Montreal Canada , here's what I have to calculate on a $1000 purchase + 20% BF= $1200 + $50 Shipping = $1250 + exchange Rate 30% = $375 =$1625 in Canadiens money + Duty about $150=$1775 Canadien.

[Leon]

Originally Posted by ullmandds

I feel like I got a little pipe .

LOL...Wield it like you have a big one. Wait, what....

[ullmandds]

Originally Posted by Leon

LOL...Wield it like you have a big one. Wait, what....

Ha... I meant to say I took a little!

[CobbSpikedMe]

Honestly, if you can't figure out how much you will owe if you win something in an auction then you really shouldn't be bidding in the auction to begin with. And if you do bid and win, don't complain that you got screwed when the auction house clearly explains the fees in the rules. Am I missing something here or is it really this simple?

AndyH

[mantlefan]

Originally Posted by CobbSpikedMe

Honestly, if you can't figure out how much you will owe if you win something in an auction then you really shouldn't be bidding in the auction to begin with. And if you do bid and win, don't complain that you got screwed when the auction house clearly explains the fees in the rules. Am I missing something here or is it really this simple?

AndyH

Andy is spot on. Bid responsibly!