Hey, pennant guys

[ooo-ribay]

Originally Posted by thetahat

Speaking of that $3,900 sale last night, I can’t imagine that the seller would have done better with an auctioneer. With the buyer’s premium etc, it would have required the winner paying over $5K to bring the same reward.

Speaking of the (dreaded) “buyer’s premium,” I’ve always been unclear on how that works…..let’s say the pennant does do $5000 at an AH and the BP is 14%….buyer pays $5700. I always assumed the BP went to the AH and the consignor took the bid amount. No?

[Fballguy]

Originally Posted by ooo-ribay

Speaking of the (dreaded) “buyer’s premium,” I’ve always been unclear on how that works…..let’s say the pennant does do $5000 at an AH and the BP is 14%….buyer pays $5700. I always assumed the BP went to the AH and the consignor took the bid amount. No?

At the most generic level, yeah kind of. There's also a fee that comes out of the sale price that goes to the AH. Never consigned with one, but the experts will tell you it's all negotiable and the better your items the more leverage you have. I will say, an AH with a 14% BP would be quite the find. Most are 20% plus.

[ooo-ribay]

I like the buyer’s premium about as much as I like third party grading services.

[Fballguy]

Originally Posted by ooo-ribay

I like the buyer’s premium about as much as I like third party grading services.

It's always a fun topic. There are AH groupies on Net54 that will defend the 20% BP to the death.

[ooo-ribay]

Originally Posted by Fballguy

It's always a fun topic. There are AH groupies on Net54 that will defend the 20% BP to the death.

It's bullshit. IMO, the buyer ought to pay what he/she bid and the AH should tell the consignor their cut.

[Duluth Eskimo]

Making close to 40% for every lower end item and at least 20% for every upper tier item is a pretty good scam. Some auction companies are good people and really work for it and try to get you (and them) top dollar, but most just act like they’re too cool for school and wait to fleece the sheep. They act like they’re doing you a favor selling the item. Auction companies ruined the show market and to me, along with grading, ruined the fun of the hobby.