Quote:
Originally Posted by Peter_Spaeth
So it doesn't fool you, but you're sure it fools others?
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1 in 6 people have an IQ below 85. That is a significant handicap when it comes to processing even simple information such as this. I don't think the AH's are intentionally on a mission to "target" those less capable, but they are certainly targeting those less capable. It is a deceptive tactic that results in hidden fees and hammer prices that were higher than expected for some, whether intentional or not. However, it allows them to operate above board (and to justify it to themselves) because they can just point to their fee structure as it is plainly spelled out for everyone to see. For most buyers, it's not much of an issue.
I think one could make an argument that it's not actually a deceptive tactic if they indeed charged 20% of the hammer price for sold items. But that's not actually the case. Nobody charges 20%. It's usually between 10 to 15% and the consignor gets some portion of the BP back. It's pretty difficult to argue that it is not intended to deceive with that being the case.
09-21-2022, 02:09 PM
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