REA - how'd ya make out?

[MVSNYC]

I'd be shocked if there's bidders out there who don't factor in BP/tax, etc. If they aren't, I feel bad for them. When I note/remember prices I paid for things, it's always including BP...that's what I had to lay out for the item!

[Leon]

Originally Posted by MVSNYC

I'd be shocked if there's bidders out there who don't factor in BP/tax, etc. If they aren't, I feel bad for them. When I note/remember prices I paid for things, it's always including BP...that's what I had to lay out for the item!

I actually put my landed cost as the price I paid. Not sure if that is correct but it feels like that is what I paid.
Not factoring BP and other costs in, is called a learning lesson. If someone does it too often they won't have to worry about it because they will be broke.

.

[honus94566]

I have kind of avoided bidding in REA for the last few years, amazing items but prices usually end up quite high.

I regret it this time though, I wasn't watching a few items that I was interested in, and they went for a lot less than expected and I missed out. Oh well!

[Peter_Spaeth]

Originally Posted by MVSNYC

I'd be shocked if there's bidders out there who don't factor in BP/tax, etc. If they aren't, I feel bad for them. When I note/remember prices I paid for things, it's always including BP...that's what I had to lay out for the item!

It's astonishing to me that so many people over the years don't seem to understand this. I still hear things like I won't bid in that auction because I don't want to pay a 20 percent premium.

[Bicem]

Agreed, although I get the sales tax thing since that creates an uneven playing field.

[Peter_Spaeth]

Originally Posted by Bicem

Agreed, although I get the sales tax thing since that creates an uneven playing field.

Ship your cards to the Vault then.

[Bicem]

Ha, no thanks!

[Scott L.]

Originally Posted by Bicem

Agreed, although I get the sales tax thing since that creates an uneven playing field.

It certainly does suck that I have to factor in a 26% premium (20% + 6% PA sales tax) and folks in other states just pay the straight 20% When you try and stick to a budget and your bidding on items that are 2 and 3k that extra $150-$200 can make a difference. And I'm small time. What about the people that are playing in the upper ends. That's a huge hit. I assume every state will be collecting their tax in the near future though if they aren't already.

I bought a card off ebay today and I was checking out and I looked at the tax and did the math in my head and said that's not 6% it's 8%. Why am I paying 8%? Then I looked where the seller was from and they happened to be in Philly where there's an additional 2% tax so they are collecting that too!

I would love a running list of the email addresses of guys who sell on ebay to make it easier to try and buy off of it.

[barrysloate]

What sucks is having to pay nearly 9% tax, as we do in NY, and going head to head against someone who doesn't have to pay it. That leaves you at a full increment disadvantage on what becomes an unlevel playing field. But there is nothing you can do.

[bxb]

Originally Posted by barrysloate

What sucks is having to pay nearly 9% tax, as we do in NY, and going head to head against someone who doesn't have to pay it. That leaves you at a full increment disadvantage on what becomes an unlevel playing field. But there is nothing you can do.

Move to another state.

[barrysloate]

Actually, I have a second home in Florida and I do not get charged sales tax. But we are not always there.

[Exhibitman]

Originally Posted by Bicem

Agreed, although I get the sales tax thing since that creates an uneven playing field.

Not for long; nearly all of the states have enacted rules that require AHs to collect the tax from the bidders. I had it added to my invoice from REA. Which is fine since I have to pay the use tax anyway if I am not charged for sales tax.

[Snapolit1]

Originally Posted by Peter_Spaeth

It's astonishing to me that so many people over the years don't seem to understand this. I still hear things like I won't bid in that auction because I don't want to pay a 20 percent premium.

My point was actually not whether people who buy something forget to factor in the 30%, but whether folks are looking at an item they didn't bid on at an auction and comment it "went cheap" are always appreciating the actual sale price vs. the hammer price. I assume they guy who bought it remembers the 30% or whatever it is.

[BeanTown]

Maybe we will see AHs absorb some of the cost soon. Buyers now have to factor in TAX. I thnk they should reflect that to the hammer price to see for future sales. Lets bring the BP (buyers premium) back down to 10-15 percent. And while we are at it, all AHs should use a private insurance company to pass on to the buyers. Instead of passing on actual Fedex or UPS insurance cost which is another 3-5 percent of the declared value.

[oldjudge]

This is an REA thread and REA charges $20 all in for shipping. Hooray for them.

[Snapolit1]

Originally Posted by oldjudge

This is an REA thread and REA charges $20 all in for shipping. Hooray for them.

And they ship quickly. Great customer experience.

[rats60]

Originally Posted by Snapolit1

And they ship quickly. Great customer experience.

Yes they do. I received my winnings today.

[Bicem]

Originally Posted by BeanTown

Maybe we will see AHs absorb some of the cost soon. Buyers now have to factor in TAX. I thnk they should reflect that to the hammer price to see for future sales. Lets bring the BP (buyers premium) back down to 10-15 percent. And while we are at it, all AHs should use a private insurance company to pass on to the buyers. Instead of passing on actual Fedex or UPS insurance cost which is another 3-5 percent of the declared value.

No chance AH's start reducing their BP's to offset tax, why should/would they take on that burden? Guessing they all already have private insurance, the shipping costs they charge you help offset the policy costs, not just the actual shipping expense.

Maybe not REA though, shipping costs were extremely fair, looks like they are just covering actual shipping costs.

[Hankphenom]

Originally Posted by MVSNYC

I'd be shocked if there's bidders out there who don't factor in BP/tax, etc. If they aren't, I feel bad for them. When I note/remember prices I paid for things, it's always including BP...that's what I had to lay out for the item!

Yes, I can see that happening ONCE to a bidder, a learning experience as others had said! I always ask myself what I would pay for it at a show, then figure in the BP to calculate my maximum bid.