Quote:
Originally Posted by Peter_Spaeth
Maybe from an accounting perspective it makes it simpler to keep track of what you pay the consignor and what you keep, than having to calculate percentages of the hammer price in a seller's fee world, but I really don't know or care. You have to do it one way or the other and it comes out to the same thing. Unless of course you think AHs should not take in any money.
Why don't you explain to us why you, knowing a premium is going to be added to your bid and presumably taking that into account like the overwhelming majority of people, care what convention is used for the AH's cut?
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You're making a bold assumption that every winning bid is suppressed by the exact amount of the buyer's premium in every instance. Dollar for dollar. Percentage point for percentage point. BP equals 20%...High bid is suppressed 20%. BP 10%...High bid supressed 10%.
While the BP does suppress bidding. I don't think it's close to a dollar for dollar match....and the discrepancy there is borne by the buyer...not the seller.
And therefore it's not the same. It's additional.
Except for you and a few of your cronies. Who abide by the 20% off rule when determining your high bid...every time...without fail.