Honus- Second to NUN

[doug.goodman]

No matter where / who it comes from, Heritage should give their commission to the nuns, and they should do it quick, while the national press still cares about the story. But, even when the press is over, they should still do it.

Doug

[egbeachley]

I think they did give the commission to the nuns - they charged them 0%. Not to mention that the nuns got over $100K extra value from Heritage's publicity machine.

[ebrehm]

No, they charged the nuns 16.3%. The buyer paid $262,900, Heritage kept $42,900, and the consignor (nuns) got $220,000. The sales commission rate was thus 42,900/262,900 = .163. Why is there so much confusion over this.

[Bilko G]

Originally Posted by ebrehm

Why is there so much confusion over this.

because many people don't consider the buyers premium as a sales commission.

[calvindog]

Why not? The "buyer's premium" goes to the seller. What else would one consider it?

[ebrehm]

Originally Posted by Bilko G

because many people don't consider the buyers premium as a sales commission.

I guess that's it -- and some auction houses try to exploit that misconception. "We offer a 0% seller's fee, so it won't cost you anything to consign your cards!" What a bunch of hooey. The buyer's premium is a sales commission, pure and simple. Unless of course buyers don't consider the buyer's premium part of the sales price, which is absurd.

[E93]

Perhaps my opinion will be unpopular, but I do not see any obligation, moral or otherwise for Heritage to auction that card for free because it was consigned by some nuns to support their missionary work. Heritage is a for-profit auction house, not a charity. I would assume the principals and most who work at Heritage give to a variety of charities. Perhaps this nun's mission is not on the top of their list. I think they did very well by them and gave them a good consignment rate. They also got a lot of press for them (and visa versa). If the folks at Heritage wanted to do it for free and issue a press release about their generous deed, then that would be wonderful. But I do not think any less of them for not doing it.
JimB

[doug.goodman]

Originally Posted by E93

I do not see any obligation, moral or otherwise for Heritage to auction that card for free because it was consigned by some nuns to support their missionary work

I agree.

But, they should still donate their cut to the nuns.

Doug

[Cat]

Originally Posted by E93

Perhaps my opinion will be unpopular, but I do not see any obligation, moral or otherwise for Heritage to auction that card for free because it was consigned by some nuns to support their missionary work. Heritage is a for-profit auction house, not a charity. I would assume the principals and most who work at Heritage give to a variety of charities. Perhaps this nun's mission is not on the top of their list. I think they did very well by them and gave them a good consignment rate. They also got a lot of press for them (and visa versa). If the folks at Heritage wanted to do it for free and issue a press release about their generous deed, then that would be wonderful. But I do not think any less of them for not doing it.
JimB

I agree with this, as well.

[Bilko G]

Originally Posted by ebrehm

I guess that's it -- and some auction houses try to exploit that misconception. "We offer a 0% seller's fee, so it won't cost you anything to consign your cards!" What a bunch of hooey. The buyer's premium is a sales commission, pure and simple. Unless of course buyers don't consider the buyer's premium part of the sales price, which is absurd.

oh i totally agree with you, but some people do fall for the "We offer a 0% seller's fee, so it won't cost you anything to consign your cards!"