SUBJECT: BEWARE Steve Verkman, Keith Vari, Leland’s, Clean Sweep & Paragon auctions

[conor912]

Originally Posted by BobbyStrawberry

I haven't had any personal interaction with the parties involved, but it sure seems like OP ended up with a very bad deal. I can't imagine getting only 60% of the proceeds of my collection from an AH.

Say you have an item with a fmv of $1000 and you consign it to an ah with a 20% bp and a 20% consignor fee. If a buyer is willing to pay fmv, that would but his high bid at $833 and change. Then 80% of that would be the consignor’s cut…in this case $666, or 67%. So 60% of the hammer, plus a cut of the bp, plus help with grading fees seem about right to me…but what do I know.