Effective Buyer's Premium - A New Term

[Bocabirdman]

I won a card in Joe's last night. My EBP is 7.5% because I chose the PayPal route as opposed to a check, in which case it would have been zero.

[6-4-3memorabilia]

I won 5 items at an auction recently for a total of $220, add 10% buyers Fee it was now $242, then they added 7% sales tax AFTER the 10% buyers fee so then it was $258.94. So $38.94 in fees and taxes, thankfully I didn't have to have the items shipped and took them home right from the place. and just to add 3 of the 5 items I won were $10, $25, and $35, so less than the fees

[tschock]

Originally Posted by 6-4-3memorabilia

I won 5 items at an auction recently for a total of $220, add 10% buyers Fee it was now $242, then they added 7% sales tax AFTER the 10% buyers fee so then it was $258.94. So $38.94 in fees and taxes, thankfully I didn't have to have the items shipped and took them home right from the place. and just to add 3 of the 5 items I won were $10, $25, and $35, so less than the fees

I think that varies from state to state. Some states don't allow you to tax the "service" of the BP.

[6-4-3memorabilia]

Originally Posted by tschock

I think that varies from state to state. Some states don't allow you to tax the "service" of the BP.

welcome to NJ

[DaveW]

Frank - You'r real problem is that you're not buying expensive enough stuff. If you'd have won some $10,000 cards, your EBP would have been much closer to 20%. Think of the money you would have saved!

[MyGuyTy]

All the more reason to avoid AHs and buy from our very own BST section!

[4815162342]

There seem to be more auction houses than ever before. Why hasn't the competition lowered BPs?

[glchen]

Originally Posted by 4815162342

There seem to be more auction houses than ever before. Why hasn't the competition lowered BPs?

There is a bunch of competition among auction houses. However, it is practically all on the consignor side, especially with the lower seller commissions (e.g., see Mile High's latest offers). In fact, to offset, lower seller commissions, auction houses often have to raise buyer premiums. Auction houses make their money through consignments. The more consignments they get, the better off they are. Consignors take into account multiple factors such as the seller's fee, the buyer's premium, the prices that the auction houses typically deliver, the auction houses' customer list, the AH's advertising, speed of consignment payout, auction ending style, and so forth to decide best where to send their items. As long as auction houses have stuff that buyers want, they will do just fine.

[frankbmd]

Originally Posted by DaveW

Frank - Your real problem is that you're not buying expensive enough stuff. If you'd have won some $10,000 cards, your EBP would have been much closer to 20%. Think of the money you would have saved!

Got it. From now on I will spend $10,000 in every auction. Get ready, Lee and Al.

In my example though, had I spent $10,000 I would have won all the lots and ended up owning the UPS Store and perhaps the Auction House as well.

[tschock]

Originally Posted by Bocabirdman

I won a card in Joe's last night. My EBP is 7.5% because I chose the PayPal route as opposed to a check, in which case it would have been zero.

Yep. You can't beat Joe's EBP when paying by check.

[atx840]

• 5-11% provincial tax
• CND to US conversion fees
• Money order/US draft fee - $7
• Ridiculous shipping rates to Canada.