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

[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.

[Griffins]

Originally Posted by 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.

It's not a surcharge for using a credit card, it's a discount for paying without one.

[bnorth]

Originally Posted by 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.

Not sure about PayPal rules at this moment. It also varies from state to state. Where I live it is illegal to charge more for paying with Paypal or a credit card. Merchants get around this by raising their prices and offering a discount for other payment methods. You have the same exact result but one is legal and one is not.

[1952boyntoncollector]

Originally Posted by bnorth

Not sure about PayPal rules at this moment. It also varies from state to state. Where I live it is illegal to charge more for paying with Paypal or a credit card. Merchants get around this by raising their prices and offering a discount for other payment methods. You have the same exact result but one is legal and one is not.

Gas stations in florida and us virgin islands where i lived in the past usually charge more for credit cards. If cash payers have to pay the same as credit card payers that sounds like a bad law for people that cant afford credit have to basically pay more for items because merchants would have to charge an amount to absorb their costs to the credit card and have those raised prices for everyone, including the cash paying people who cant get a credit card.

[rainier2004]

Originally Posted by bnorth

Not sure about PayPal rules at this moment. It also varies from state to state. Where I live it is illegal to charge more for paying with Paypal or a credit card. Merchants get around this by raising their prices and offering a discount for other payment methods. You have the same exact result but one is legal and one is not.

And like Al said, his other option is dropping paypal and cc like lots of other AHs did. LOTG is offering more ways to pay and being flexible and this board still finds a way to BITCH...really? Yes, LOTG must be hiding in the weeds and gaining so much profit for the option of taking p/p, and like he said they charge up to 4% for using it. Maybe people should do some more investigating before they just let their mouth rip...

[Leon]

Originally Posted by rainier2004

And like Al said, his other option is dropping paypal and cc like lots of other AHs did. LOTG is offering more ways to pay and being flexible and this board still finds a way to BITCH...really? Yes, LOTG must be hiding in the weeds and gaining so much profit for the option of taking p/p, and like he said they charge up to 4% for using it. Maybe people should do some more investigating before they just let their mouth rip...

What does "this board" have to do with anything? Boards don't bitch people do. Please continue.....

[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.