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#13
01-24-2006, 07:41 AM
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Is this questionable behavior by an auctioneer?
Posted By: Jay Miller
Let me get this straight. Someone buys a lot in Lelands for X and then pays a 17.5% buyers premium on top of that so he is into the lot at at least 1.175X (at least because there may be shipping charges/tax/etc). He then decides to sell it on ebay where lets say his total cost of selling is 5%. That means that he must realize almost 25% more than the Lelands winning bid just to break even. My sense is that this is not a great long term business model. Adam, you raise some good questions which I'm not sure have been fully answered. 
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