Legendary Winnings

[oldjudge]

Adam-I'm sure they have blanket coverage and are just using the third party calculators to come up with a reasonable charge. Their actual cost should be less, after allocating some pro rata share of the policy cost, but when you add in the cost of running the shipping department, including materials and labor, I would guess that they are not getting rich on what they charge for the shipping. My guess is that they are just trying to break even on the whole shipping process. If they can achieve this then the roughly 20% buyers premium covers the cost of running the rest of the auction house and yields whatever profit there is. This profit must come out of the buyer's premium since very few consignors pay consignment fees(many auction houses offer negative consignment fees).

[Jlighter]

Originally Posted by oldjudge

Adam-I'm sure they have blanket coverage and are just using the third party calculators to come up with a reasonable charge. Their actual cost should be less, after allocating some pro rata share of the policy cost, but when you add in the cost of running the shipping department, including materials and labor, I would guess that they are not getting rich on what they charge for the shipping. My guess is that they are just trying to break even on the whole shipping process. If they can achieve this then the roughly 20% buyers premium covers the cost of running the rest of the auction house and yields whatever profit there is. This profit must come out of the buyer's premium since very few consignors pay consignment fees(many auction houses offer negative consignment fees).

I've never sold through Legendary, but according to their website they have a 15% consignment fee.

[Jlighter]

For comparison SCP charged me around $23 for a decent sized framed piece and one card. The total value was around 700. It was shipped UPS with Signatute including insurance.

[jimross]

I didn't bidded on this recent Legendary auction. I am worry I won't be able to receive my items after I paid in full due to their recent lawsuit results. Am I worrying too much?

[Matthew H]

Originally Posted by jimross

Am I worrying too much?

Yes

[joeadcock]

Matthew

You feel there is a risk that we will not receive items paid for?

[joeadcock]

Matthew

Sorry, strike that. I spoke incorrectly.