The Leon Luckey Type Card Collection – Bidding Ends on Thursday - August 13, 2015

[nolemmings]

Maybe this has been explained before and I'm just tired, but I am curious to know why an AH doesn't just skip the buyer's premium altogether and take their 1/6 share from the final hammer price. If buyers are already aware of BPs and adjust their max bids accordingly, presumably their max bids would increase once free of BPs. If the ultimate price with BP is the same as without it, and buyers don't care who gets what split of their money, then it should make no difference, right? On the other hand, if, for whatever reason and in spite of logic buyers don't like BPs and withhold participation for that strange (IMO) reason, then they will bid more and the hammer price would be higher without them.

IOW, if the BP doesn't make any difference and bidders ultimately pay the same max price with or without it, then why won't an AH try it the other way and charge no BP, agreeing instead to take its cut from the consignor's share?

[1952boyntoncollector]

Originally Posted by nolemmings

Maybe this has been explained before and I'm just tired, but I am curious to know why an AH doesn't just skip the buyer's premium altogether and take their 1/6 share from the final hammer price. If buyers are already aware of BPs and adjust their max bids accordingly, presumably their max bids would increase once free of BPs. If the ultimate price with BP is the same as without it, and buyers don't care who gets what split of their money, then it should make no difference, right? On the other hand, if, for whatever reason and in spite of logic buyers don't like BPs and withhold participation for that strange (IMO) reason, then they will bid more and the hammer price would be higher without them.

IOW, if the BP doesn't make any difference and bidders ultimately pay the same max price with or without it, then why won't an AH try it the other way and charge no BP, agreeing instead to take its cut from the consignor's share?

Because consignors dont want money taken out of the purchase price.....
.its about the consignors not the bidders...also this is classic talk about 'user fee' versus general tax ..people dont mind paying 'tax' or in this case a 'bp' when its for s specific service..

[nolemmings]

Well isn't that just as irrational? If a card sells for $100 with a 20% BP, the consignor gets $100 and the AH $20. If there's no BP and the buyer still bids and pays $120, the consignor gets $100 and the AH gets $20 (assuming 1/6 fee to consignor). Isn't it rather silly to call out bidders who don't want to pay BP and say it makes no difference but not criticize consignors for the same lapse in logic if there is no BP and prices increase to where the buyer is paying the same price?

BTW Al Jurgela, congrats on that Matty--I can't stop staring at it.

[1952boyntoncollector]

Originally Posted by nolemmings

Well isn't that just as irrational? If a card sells for $100 with a 20% BP, the consignor gets $100 and the AH $20. If there's no BP and the buyer still bids and pays $120, the consignor gets $100 and the AH gets $20 (assuming 1/6 fee to consignor). Isn't it rather silly to call out bidders who don't want to pay BP and say it makes no difference but not criticize consignors for the same lapse in logic if there is no BP and prices increase to where the buyer is paying the same price?

BTW Al Jurgela, congrats on that Matty--I can't stop staring at it.

it all adds up to the same thing..people include what the bp in their bids..

and on ebay..sellers factor into the ebay fees.......

it doesnt need to make sense...whatever the consignor wants goes.....some auctions houses give the consignor some of the buyers premium as well......

[aljurgela]

Thanks Todd... looking forward to getting the Matty in hand. Should be here tomorrow!

Al

[begsu1013]

Originally Posted by nolemmings

Maybe this has been explained before and I'm just tired, but I am curious to know why an AH doesn't just skip the buyer's premium altogether and take their 1/6 share from the final hammer price. If buyers are already aware of BPs and adjust their max bids accordingly, presumably their max bids would increase once free of BPs. If the ultimate price with BP is the same as without it, and buyers don't care who gets what split of their money, then it should make no difference, right? On the other hand, if, for whatever reason and in spite of logic buyers don't like BPs and withhold participation for that strange (IMO) reason, then they will bid more and the hammer price would be higher without them.

IOW, if the BP doesn't make any difference and bidders ultimately pay the same max price with or without it, then why won't an AH try it the other way and charge no BP, agreeing instead to take its cut from the consignor's share?

because the good Peter'th says so. that's why. and that's all that matters. His words are scripture and there is no denying this.

for Pete's sake / for christ's sake. this is not by coincidence.

sheesh, all 100,002 of us know that.