You're example applies to card collectors. And I can see how it works for them because they know, if they don't get this one...they'll get another shot at it in a month or two. So you can wait to get it at your price. You also have a wealth of previous sales to help you determine what your max price is.
I collect pennants. What I'm looking for comes around once every 10 years if I'm lucky. It's hard to place a price on something that comes along only once every 10 years...so I can't go in saying this pennant is worth $1000, not one penny more...unless I'm also willing to say "Ok...I'm never going to own it because it's probably not coming around again."
So your logic doesn't apply to everyone...Collector's of things more rare than a $1000 card don't have that luxury....and even if they did, it doesn't explain why the buyer should pay for the service provided to the seller.
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Originally Posted by Bored5000
If you believe a card is worth $1,000 and are willing to pay $1,000, how is the buyer "footing the bill" when the buyer is still only willing to spend the same amount?
The only way that argument makes sense is if the buyer is completely oblivious of the 20 percent until after the auction is over. Anyone other than a total newbie realizes there is a 20 percent fee and adjusts their bid accordingly so that it will not surpass the maximum amount they are willing to spend.
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