auction fees and the damage done

[Fballguy]

Here's a humorous explanation of why Buyer's Premiums exist...From an auction house of course. One I've never used and likely never will...

When attending an auction keep in mind that the buyer's premium is used to enhance the customer experience. The buyer's premium is charged so buyers are comfortable during the time of auctions and so the auction can operate efficiently. The extra charge is always put to good use.

[parkplace33]

It would not surprise me moving forward to see an increase in BP.

AHs are making more money this year, why not make more?

[rjackson44]

buy here

[G1911]

Originally Posted by Fballguy

When attending an auction keep in mind that the buyer's premium is used to enhance the customer experience. The buyer's premium is charged so buyers are comfortable during the time of auctions and so the auction can operate efficiently. The extra charge is always put to good use.

This is some of the more comical corporate bull!@#$ I've read in awhile.

My only objection to a BP is when A) it's used to try and mask what you're really paying and B) when the auction house lies that it is about anything except jacking their profit margin. There is nothing wrong with making more money if you can get people to pay it, but don't straight up lie that it's for my "comfort" during an online auction.

[Aquarian Sports Cards]

Originally Posted by Fballguy

Here's a humorous explanation of why Buyer's Premiums exist...From an auction house of course. One I've never used and likely never will...

When attending an auction keep in mind that the buyer's premium is used to enhance the customer experience. The buyer's premium is charged so buyers are comfortable during the time of auctions and so the auction can operate efficiently. The extra charge is always put to good use.

I own an auction house and that's the weirdest, lamest explanation of BP I've ever heard.

BP was implemented by Christies and Sotheby's in the art world (some debate about who was first) to give them a competitive advantage in securing consignments by offering lower seller commissions. It's literally a shell game the same money is coming from somewhere, and ultimately should make no difference in what a consignor is paid or what a buyer pays. That being said, since it's become the industry norm it would be tough to just put the entire percentage you collect back on the seller as it had been previously, hence the proliferation.