17.5% buyer's premium

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Posted By: Robert {Bigb13}

Seems a bit to high no? Rob

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Posted By: JK

ok, Ill bite, what about it?

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Posted By: Robert {Bigb13}

Don't you guys think that a bit high? Rob

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Posted By: Jay

It's a whole lot better than Mastro's 20%

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Posted By: JK

I agree its high, but 17.5% has been the "standard" for at least a year or two. Nothing new. And as mentioned, Mastro is at 20% as are SCP and Heritage (Heritage may only be at 19.5%, but close enough).

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Posted By: Wesley

17.5% is a lot, but Mastro charges 20%. Either amount is fair game so long as these fees are disclosed with advanced notice to the consignors. The consignor can then choose to go with that auctionhouse or not. But by disclosing additional fees the day the auction goes online, it is already too late to make that decision.

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Posted By: joseph

I know now why so many people use eBay to sell their cards. With fee's costing 1/5 of the sale price, I too would opt for eBay. I know you would be able to reach more people than a standard auction; even through you might note reach the cream of the crop as for buyers. I see some of those eBay prices and they seem to be more than fair. It's only my opinion.

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Posted By: Cat

It's worse than 20%. The total fees are often over 40% of what you receive as a consignor. The buyers premium is 20% of the sales price - $200 on a $1,000 item - and the consignors fee is 15% of the sales price. You will commonly as a consignor, if not negotiated down, receive 85% of the $1,000. Thus, as a consignor you receive $850. The buyer pays $1,200. The Auction House keeps the $350 (41.2% of what the consigor receives).

This has always made me stop, with great pause, in regard to what I offer people on high dollar items. I have had a great desire to own a Cobb with Cobb back. The last two at Auction Houses (that I know of) went for almost identical prices. The SGC 20 in Mastro (about a year ago) closed at $24,655. The buyer paid slightly less than $29,000 and the seller received slightly less than $21,000 (the 15% fee possibly negotiated down). So what's a fair offer to a holder of such a card? Well people tend not to take anything in the middle of what the buyer pays and the seller receives as a fair offer. I beleive that many people fail to realize that in order to reach a return of $29,000 or greater (in the above example), they will have to sell it for $41,000 or greater (including vig) at an auction house.

But after all is said...this Auction House cost topic is still very old news.

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Posted By: leon

It's said the mother of invention is necessity. I have an idea.....stay tuned

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Posted By: davidcycleback

I beleive auction houses should charge a fee to consignors. If you're against 20%
to bidders, you should also be against 0% to consignors.