LOG Auction:Tom Brady's got NUTHIN' on This Inflation!!

[glchen]

LOTG is only 23% if you pay by credit card or you pay after 14 calendar days after the invoice is sent to you. If you pay by check within 14 days then the BP is the typical 20% you see from most other auction houses. Goldin has a similar policy. Their BP is 22.5% if you pay by credit credit card or after 10 calendar days. If you pay by check within 10 days, then it is the 20% BP again.

And of course, Christie's is still the BP "winner" with a 25% BP regardless of payment method (and not even including their enormous shipping charges).

[BeanTown]

Christies is 25% Plus tax if they are in your state, Plus storage charges after a certain time frame, plus shipping and insurance which must ship overnight FedEx shipping at your expense. No discounts based on payment methods, and no lee way on shipping a more economical way. My hunch is they charge the consignor fees too.

[skelly]

Maybe I'm just not a serious enough collector, but to me the buyers premium is an extra kick in the face, and I just can't be motivated to buy from auction companies... I'll take my chances buying graded cards on ebay from time to time and getting the "bucks."

[gnaz01]

Catalog came today, Al. Awesome, bids are in......

[ethicsprof]

Originally Posted by gnaz01

Catalog came today, Al. Awesome, bids are in......

totally agree. both are beauties! bids were already in but about to do some more. Congrats, Al.
all the best,
Barry

[CW]

Originally Posted by skelly

Maybe I'm just not a serious enough collector, but to me the buyers premium is an extra kick in the face, and I just can't be motivated to buy from auction companies... I'll take my chances buying graded cards on ebay from time to time and getting the "bucks."

You simply figure in the additional premium when placing your bid. So if you are willing to actually pay $100 for a card and the AH charges 20%, you simply bid up to $84 and stop (the BP will bring your total up to $100). This is how most folks do it -- even the non-serious collectors.

[aljurgela]

Originally Posted by BeanTown

Christies is 25% Plus tax if they are in your state, Plus storage charges after a certain time frame, plus shipping and insurance which must ship overnight FedEx shipping at your expense. No discounts based on payment methods, and no lee way on shipping a more economical way. My hunch is they charge the consignor fees too.

My shipping bill alone was $2800 for my Christie's order! Wow! No other alternative.... but if I do it on my own, I have to pay NY sales tax, which is even higher! Wow! Everything else seems like a bargain!

[Exhibitman]

Let's maintain a little perspective here, folks: 3% is $3 on every $100. For the vast majority of purchases and purchasers here it isn't going to break the bank. And you can always send a check if it ticks you off.

What I'd love to see just for convenience is an AH with no BP. The item sells for what it sells for and the consignor pays the commission he negotiates with the AH. End of whining.

[Bliggity]

Originally Posted by Exhibitman

What I'd love to see just for convenience is an AH with no BP. The item sells for what it sells for and the consignor pays the commission he negotiates with the AH. End of whining.

See: Kevin Savage Auctions, Joe's Vintage Sports Cards Auctions.

[Stampsfan]

Originally Posted by aljurgela

My shipping bill alone was $2800 for my Christie's order! Wow! No other alternative.... but if I do it on my own, I have to pay NY sales tax, which is even higher! Wow! Everything else seems like a bargain!

Wow! Did you win several cars in the auction?

[aljurgela]

Originally Posted by Stampsfan

Wow! Did you win several cars in the auction?

I did win a number of bats and framed photos (I did not realize that they were framed)... a couple of which were panoramas... in the end they decided that they needed to professionally package them, build a crate and FEDEX overnight.... and it was their way or the highway... and if I picked them up, the sales tax would have been way more than the shipping.... I expected roughly a $500 shipping bill, but it was $2100 from them and they forced me to pay the insurance (even though I have an umbrella coverage that would have covered it)... which is $700. Wow. Will need to keep this in mind next time that there is a Christie's auction.

[packs]

Wow very strange that they would force you to insure a package packed and shipped by them.

[1952boyntoncollector]

Originally Posted by glchen

LOTG is only 23% if you pay by credit card or you pay after 14 calendar days after the invoice is sent to you. If you pay by check within 14 days then the BP is the typical 20% you see from most other auction houses. Goldin has a similar policy. Their BP is 22.5% if you pay by credit credit card or after 10 calendar days. If you pay by check within 10 days, then it is the 20% BP again.

And of course, Christie's is still the BP "winner" with a 25% BP regardless of payment method (and not even including their enormous shipping charges).

Plus people get cashback on their credit card from 1-2% so paying 2.5% isnt really costing them 2.5 percent more....

[Snapolit1]

30% to NJ residents like me who want to use Paypal. A steal!

[conor912]

Consider it a 3 point lazy/impatient charge.

Factor it into your bidding. He could charge 50% for all I care. I'd just adjust my bidding and carry on.

[Peter_Spaeth]

Originally Posted by conor912

Consider it a 3 point lazy/impatient charge.

Factor it into your bidding. He could charge 50% for all I care. I'd just adjust my bidding and carry on.

No matter how many times we explain this, people don't seem to get it. Consignors should care. Buyers should not. A buyer's premium is just a convention for separating your bid into the part the consignor gets (the hammer price) and the part the house keeps.

[MVSNYC]

Originally Posted by conor912

Factor it into your bidding. He could charge 50% for all I care. I'd just adjust my bidding and carry on.

This.

Whatever the juice is, it just needs to be factored into your bidding. I actually like having the PayPal/CC option.

[Mdmtx]

I agree with just factoring the cost in. If the broker/auctioneer doesn't have a reasonable margin, then there won't be people out trying to generate consignments 24/7 in every nook and corner of the country. These efforts to get consignments are one of the reasons for all the high quality material that keeps surfacing.

Quite frankly, as a buyer I don't care how much the fee is as long as it's fully disclosed. I did not participate in the Christies auction, but from reading the posts, it appears that their shipping charges were a surprise, that would have ticked me off. But if it was fairly described and disclosed, I would have been ok with that.

[Dewey]

As far as I know, per Paypal rules, merchants are not allowed to pass on fees to their customers via a "surcharge." Folding it into the premium seems like surcharge to me. So even if bidders don't care, paypal may still "drop the hammer" of their own. Unless I'm missing something.

[Beastmode]

Originally Posted by conor912

Consider it a 3 point lazy/impatient charge.

Factor it into your bidding. He could charge 50% for all I care. I'd just adjust my bidding and carry on.

++ If you want a card for $100 and the fee is 50%, Bid $66 and go to bed. Too many people getting caught up in fees, , sniping, string bidding, bid stringing, bid rigging, Curt Schilling, RICO, etc....

Bid what your are comfortable with and what you are willing to pay (including fees!) for the card and walk away.