Huggins & Scott May Auction - Ends Tonight 5/9!

[Orioles1954]

Hello everyone,

Our May auction ends tonight. Please make sure all of your initial bids are placed by 10:00 P.M. EST. At 11:00 P.M. EST our 30 minute per lot rule goes into effect. There are plenty of exciting lots in this auction that are still at reasonable prices. If you have any questions, please do not hesitate to ask.
Thanks for your continued support!

James

www.hugginsandscott.com

[perezfan]

Surprised to see the Buyers Premium was raised to 23%.

I must have missed the announced change. Not a very pleasant surprise.

[Dpeck100]

Do the final prices I see on the site include the buyers premium?

I see something that sold and I am curious if I add 23% to that.

Thank you.

[Leon]

In fairness it goes onto say, in bold red letters-

NOTE: a 3% discount for all payments by check, cash, money order or wire transfer.


and David, my guess is you still add 20% as a final value as we all know using certain forms of payment cost close to, or 3%. That is my guess. If you buy/win something it is either 20% or 23% depending on how you pay. I almost always choose the lesser of the percentages forms of payment. To each their own though.

Originally Posted by perezfan

Surprised to see the Buyers Premium was raised to 23%.

I must have missed the announced change. Not a very pleasant surprise.

[bobbyw8469]

My credit card gives 3% cash back, so it's a wash for me. Still seems to be an extremely high buyer's premium. Is that the ceiling? Or will 25% and 30% be the new norm?

[robertsmithnocure]

Originally Posted by bobbyw8469

My credit card gives 3% cash back, so it's a wash for me.

Out of curiosity, what credit card gives you 3% cash back? Mine gives me back 2% and I would live to upgrade.

[bobbyw8469]

Originally Posted by robertsmithnocure

Out of curiosity, what credit card gives you 3% cash back? Mine gives me back 2% and I would live to upgrade.

Bank of America. You get to choose which category out of 6. I chose "online shopping".

[robertsmithnocure]

Originally Posted by bobbyw8469

Bank of America. You get to choose which category out of 6. I chose "online shopping".

Thanks. I was hoping that it was 3% across the board.

[Dpeck100]

Originally Posted by Leon

In fairness it goes onto say, in bold red letters-

NOTE: a 3% discount for all payments by check, cash, money order or wire transfer.


and David, my guess is you still add 20% as a final value as we all know using certain forms of payment cost close to, or 3%. That is my guess. If you buy/win something it is either 20% or 23% depending on how you pay.

Thank you

Solid price for the item I was looking at.

[pclpads]

I fully realize 20-23% vig is now - and has been - the new normal in auctions. That said, unless the item being auctioned is something I'd willingly cut off my left one to win, I'm out of there. I personally think it is owing to pure greed on the part of AH's. What other reason could it be? Even at 15% vig, they are still making $$$. AH's know they have a captive audience, so, "let's really put the screws to the winners!" Those who piss and moan - like me! - are likely in the minority.

[bobbyw8469]

Originally Posted by pclpads

I fully realize 20-23% vig is now - and has been - the new normal in auctions. That said, unless the item being auctioned is something I'd willingly cut off my left one to win, I'm out of there. I personally think it is owing to pure greed on the part of AH's. What other reason could it be? Even at 15% vig, they are still making $$$. AH's know they have a captive audience, so, "let's really put the screws to the winners!" Those who piss and moan - like me! - are likely in the minority.

No...these guys make a mint...they charge consignors between 10-20% (I know this to be true, as I have consigned with them), and then charge the buyers 23%. So added together, that is quite a healthy premium. Granted, putting out and mailing out those books ain't cheap. Traveling to shows to round up consignments isn't cheap. Just an observation....as long as they got customers and consignors, it is what it is.

[oldjudge]

Originally Posted by bobbyw8469

No...these guys make a mint...they charge consignors between 10-20% (I know this to be true, as I have consigned with them), and then charge the buyers 23%. So added together, that is quite a healthy premium. Granted, putting out and mailing out those books ain't cheap. Traveling to shows to round up consignments isn't cheap. Just an observation....as long as they got customers and consignors, it is what it is.

No consignor in their right mind pays a seller's fee.

[Rhotchkiss]

Originally Posted by oldjudge

No consignor in their right mind pays a seller's fee.

+1

[bobbyw8469]

Originally Posted by oldjudge

No consignor in their right mind pays a seller's fee.

Everyone charges a seller's fee. Not everyone has $100,000 consignments.

[Klrdds]

A few random thoughts .
I have always negotiated my AH seller's fee to between 0 - 5 % depending upon a per item total sale price or a total gross items total price sale. As a rule and as most of you know the better the item the lower your consignor's fee.
I have found R & R to be fairly expensive to consign to because of their cataloging / photography fees, as well as a reserve bid fee charge back fee also . You can still negotiate with them but it is a little difficult to get them to lower their fees much and read their consignors contract carefully and talk to Bob about the fees and he'll help some. R & R also has a 25 % buyers/winning bidder's fee and I fear that 25% will become the normal buyer's fee soon and from there how high can the Buyer's Fee go until it becomes prohibitive. The 3% discount helps a little but is really a drop in the bucket and just a promo to get people to bid .
I know printing the catalogs and setting up the website and photography for an auction is expensive but how about a staggered buyer's fee. The higher the item's selling price the lower the premium ...just a thought.
Should the LOA for an item or the grading be paid by for the seller or the AH ? If it doesn't sell then the seller should pay because the LOA / slabbed item is his .

[Snapolit1]

Originally Posted by bobbyw8469

No...these guys make a mint...they charge consignors between 10-20% (I know this to be true, as I have consigned with them), and then charge the buyers 23%. So added together, that is quite a healthy premium. Granted, putting out and mailing out those books ain't cheap. Traveling to shows to round up consignments isn't cheap. Just an observation....as long as they got customers and consignors, it is what it is.

Anyone who gives someone a 20% fee to sell something of theirs, and then lets them take another 20% off the back end is going about things very badly.

Hell, if it's not a valuable item why not just sell it on BST or eBay.

[wondo]

I bid strong on a lot of raw T207s and got smacked. Someone musta needed a card in that lot or I overlooked something. Congrats to the buyer!!!

[Peter_Spaeth]

Originally Posted by bobbyw8469

No...these guys make a mint...they charge consignors between 10-20% (I know this to be true, as I have consigned with them), and then charge the buyers 23%. So added together, that is quite a healthy premium. Granted, putting out and mailing out those books ain't cheap. Traveling to shows to round up consignments isn't cheap. Just an observation....as long as they got customers and consignors, it is what it is.

With due respect you should be looking to consign elsewhere or negotiate better terms. A 60-40 split with the AH is absurd.

[brianp-beme]

As a reminder to everyone out there, Brockelman Auctions not only has no seller's fee across the board for all consignments, but their buyer's premium is 12%.

I personally think this makes a nice end result for both buyer and seller.

brianp(arker)-beme