Quote:
Originally Posted by markf31
With the close of last night's Legendary auction, I successfully won my first house auction. The process is still quite new to me and it go me thinking. Since I imagine most bidders account for and figure the Buyers Premium, shipping and (since I live in PA) sales tax with auction houses into their bids, what is the real advantage to using an auction house as a seller/consignor?
So for instance a bidder who would pay $600 out of pocket for an item, will bid up to $500 on the item, with the Buyers Premium and assocaites fees bringing him to around his $600 mark. Now the seller takes home $500 minus a 15% consignment fee...and walks away with $425.
I understand that for someone who isn't involved in the hobby/business of sports collectibles and wants to sell items that going through an auction house might make a little sense and maybe it makes sense as well for very high valued and rare collectibles, but for common collectibles and memorabilia I just don't see how it makes sense. Especially now with Ebay consignment companies becoming more popular.
Or am I just missing something??
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A few things off the top of my head:
1. Some auction houses don't have a seller fee (Goodwin) and have a bigger following due to marketing.
2. Some people just do want to deal with ebay? You only have at most 10 days time and for the most part, and people have to keep checking ebay or they could miss an item. Some people just don't have time to keep checking every few days.
Just my .02 cents..
