Mastro has raised Buyer Premium to 20%

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Posted By: Colt McClelland

Anyone who consigned to this Mastro auction should pick up the phone and demand that Mastro reduce their seller's premium by the amount of the change in the buyer's premium. In fact, Mastro should have done this as a matter of course in advance in my opinion. The bottom line is this - add up your seller's premium and the buyer's premium and that is the "hit" that you are taking as a consignor. Mastro can call this an increase to the buyer's premium, but just like Leon points out a seasoned bidder is going to factor that into his bid. Thus, it's really coming out of the consignor's pocket at the end of the day. I've never been a fan of Mastro from a consignor's standpoint, and the way this was handled just enforces my opinion.