Mastro has raised Buyer Premium to 20%

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Posted By: Bruce Dorskind

The real question for a seller is "where will I realize the maximum amount
of money for the items that I am selling?

If I sell through Auction House A and pay no seller's premium and they have
a 10% Buyer's Premium and I realize a 1000 on an item that is fine.

If Auction House B can sell the same item for $1300 and I have to pay them
10% and there is also a 20% Buyer's premium ($1300 becomes $1560)
as a seller I am still better off with Auction House B.

The big question is how much additional value does an auction house
that charges 15%and 20% (sellers and buyers premium) add vis a vis
one that charges 0 and 15% or 10% and 10%.

I think that the answer is determined by the item.

As for seller's premiums, I have been offered a negative premium
( a share of the buyer's premium) by two of the most distinguished
auction houses.

This is very typical of the coin business- where it is rare for a coin
auctioneer to charge a seller's premium on high quality graded material.

My experiences with Robert Edward as both a buyer and a seller is that
they have been worth every percentage they charged. Rob Lifson is
a savvy business executive and is more than reasonable if the collection
warrants an adjustment in the seller's premium.

While Mastro has every right to charge a 20% premium they are obligated
morally, if not legallly, to notify consignors of a change in terms.
in advance of accepting the items.

It is very poor form and highly unprofessional to do otherwise. It takes 20 years
to build a reputation and 20 minutes to ruin it.

Bruce Dorskind
America's Toughest Want List