increase in auction buyers premium

[glchen]

Although I agree that most buyers taking BP into consideration for pricing the final price of bids, I do think that there is a side effect of increasing BP's. And that is making the bid increments larger. The higher the BP goes, the larger the increment, so I think it still would be worthwhile if some AH's offset this by reducing the bid increments.

[h2oya311]

Originally Posted by glchen

Although I agree that most buyers taking BP into consideration for pricing the final price of bids, I do think that there is a side effect of increasing BP's. And that is making the bid increments larger. The higher the BP goes, the larger the increment, so I think it still would be worthwhile if some AH's offset this by reducing the bid increments.

Very interesting point! But the increments aren't technically any larger. They are still 10% bid increments, not 12%...

A card that is currently at $1,000 + 20% BP = $1,200. The next increment is 10% of $1,000 = $1,100. Adding in the 20% BP and the full card price is now $1,320. $1,320 / $1,200 is still a 10% bid increment to the buyer (if they are smart enough to factor in the BP in the first place). While the dollar bid increments are larger with the BP's, the relative increments in percent are still unchanged.

[pokerplyr80]

I can't remember which site it was, but there was a site that when I placed a bid, say $1,000, it actually noted that I was bidding $1,200 with the buyer's premium. I thought that was very helpful, and wish there was some way to require this. I'm sure it's not beneficial to the AH, since people may forget about the premium and bid more than they originally intended. But it does say something for the integrity of the site.

[TanksAndSpartans]

Originally Posted by pokerplyr80

I can't remember which site it was, but there was a site that when I placed a bid, say $1,000, it actually noted that I was bidding $1,200 with the buyer's premium. I thought that was very helpful, and wish there was some way to require this. I'm sure it's not beneficial to the AH, since people may forget about the premium and bid more than they originally intended. But it does say something for the integrity of the site.

BST Auctions are the only one I've ever seen do that - I wish they all did it as well, but my skeptical side feels it may not be to their advantage.

[edjs]

Originally Posted by DezHood

BST Auctions are the only one I've ever seen do that - I wish they all did it as well, but my skeptical side feels it may not be to their advantage.

Heritage does it, too.

[Peter_Spaeth]

Originally Posted by pokerplyr80

I can't remember which site it was, but there was a site that when I placed a bid, say $1,000, it actually noted that I was bidding $1,200 with the buyer's premium. I thought that was very helpful, and wish there was some way to require this. I'm sure it's not beneficial to the AH, since people may forget about the premium and bid more than they originally intended. But it does say something for the integrity of the site.

If people don't know the buyer's premium, they shouldn't be bidding. It isn't very hard to multiply by 1.2 or whatever.

[travrosty]

bottom line is, shop around.

[pokerplyr80]

Originally Posted by Peter_Spaeth

If people don't know the buyer's premium, they shouldn't be bidding. It isn't very hard to multiply by 1.2 or whatever.

I always look up the premium before I bid, just saying it's helpful when listed while bidding. And I'm sure there have been people who forgot to take it into consideration.

It must have been Heritage where I saw that.

[TanksAndSpartans]

Originally Posted by Peter_Spaeth

If people don't know the buyer's premium, they shouldn't be bidding. It isn't very hard to multiply by 1.2 or whatever.

I think what we were saying is that we appreciate the feature - the more transparency the better. By your reasoning, why put the buyer's premium on the web at all - it isn't very hard to pick up the phone and call and ask.