Auction House Fees.....NOT!

[thekingofclout]

I just posted this on an existing thread but thought that it deserved it's own.


It just occurred to me that by buying the several terrific pieces I won from Henry Yee's Auction that just ended, I SAVED approximately $750 in Auction House Fees !!!!

I don't know about you, but I can certainly use the cash to go and buy more cool stuff!

Just my .02

My best, Jimmy

[slidekellyslide]

Henry Yee has such a large following that I'm surprised he hasn't ditched ebay for his own web based auction. Even if he didn't charge a buyer's fee he'd still make more money on the saved ebay fees.

[thekingofclout]

Originally Posted by slidekellyslide

Henry Yee has such a large following that I'm surprised he hasn't ditched ebay for his own web based auction. Even if he didn't charge a buyer's fee he'd still make more money on the saved ebay fees.

I've asked him that before Dan and Henry felt that his business model was working pretty well at ebay so if it ain't broke...

He also made a good point that by staying with ebay, he is able to generate new customers without advertising.

Also, Henry's ebay email blast list is at 8700 people who have actually BID in his auctions. Pretty strong. He also gives personal service to VIPs as he makes himself very available to them. Just first-rate from top to bottom,

[perezfan]

Nevermind.... Too slow trying to type on this cell phone, and Jimmy already eloquently covered each point I attempted to make.

[Forever Young]

Originally Posted by slidekellyslide

Henry Yee has such a large following that I'm surprised he hasn't ditched ebay for his own web based auction. Even if he didn't charge a buyer's fee he'd still make more money on the saved ebay fees.

Personally, one of the many reasons why I like Henry's auction is that it ends at a certain time. I love the way ebay works. You are not up all night and if sniping, you can steal OR pay your top dollar...IT IS A RUSH!

Secondly, ebay provides the software and its maintenance for the auctioneer. Even if the fees do seem large, it is a good deal if you do not want to invest 6 figures upfront in a new site and for an IT dork(five fig salary). No offense if anyone here is....I wish I had those skills and that extra cash

BUT...you are correct in that if some of these other auctions can do it, he should definitely be able to thrive based on his following and reputation. It is definitely the auction I look forward to most.

[thekingofclout]

Almost ALL of Lelands & Legendary's Photo Auctions have an OPENING bid of $100 PLUS the JUICE mind you. The better photos start at $200 $300 $500 or even MORE at times

That makes it pretty damn hard to get a great deal, hell make that even a good deal. 99 cents baby!

[Rob D.]

I stopped considering the buyer's penalty as a "separate cost" long ago. In other words, I don't look at a $1,000 bid as a $1,000 bid and a $150 auction fee. It's a bid of $1,150, and I've accordingly factored in whatever percentage the house applies. It makes little difference to me how an auction house breaks down the money I've paid for an item. Heck, if they want to designate 90 percent of that $1,150 as a buyer's premium, what do I care? The bottom line is I've paid $1,150 for the item.

[thekingofclout]

But how about an opening bid of $120 or more on just about every photo in the catalog? How does that size up to 99 cents in your opinion?