PWCC Boggles the Mind. New Auctions

Peter_Spaeth · #1 12-23-2021, 12:43 PM

Would you be happier if there was no premium but you had to bid 20 percent higher to win?

Lorewalker · #2 12-23-2021, 12:57 PM

Quote:

Originally Posted by Peter_Spaeth

Would you be happier if there was no premium but you had to bid 20 percent higher to win?

Like everyone else, I am just elated that PWCC is not in prison and can still offer me cards, altered or not and shilled or not, so that I can get that much closer to completing my collection. I would pay as much as a 30% BP to boot! I mean I as hard as I look, it seems PWCC is the only seller offering cards for sale in an auction format. Without him, we might have to collect stamps or action figures.

Merry Xmas and Happy New Year to everyone working us...I mean working hard for us...at PWCC.

perezfan · #3 12-23-2021, 02:22 PM

Quote:

Originally Posted by Lorewalker

Like everyone else, I am just elated that PWCC is not in prison and can still offer me cards, altered or not and shilled or not, so that I can get that much closer to completing my collection. I would pay as much as a 30% BP to boot! I mean I as hard as I look, it seems PWCC is the only seller offering cards for sale in an auction format. Without him, we might have to collect stamps or action figures.

Merry Xmas and Happy New Year to everyone working us...I mean working hard for us...at PWCC.

My thoughts as well. If Covid, Inflation and PWCC all fade away in 2022, it will be the best year ever!

That said... I can't believe the level of "debate" over the Buyers Premium. As much as I dislike this particular seller, you cannot begrudge them standard operating costs that virtually all of their competitors also employ. Just factor in the costs and bid accordingly.

oldjudge · #4 12-23-2021, 02:31 PM

I have no problem with auction houses who produce a nice catalog charging a 20% buyers premium. Catalog production and mailing costs are high. I do have a problem with on line auctions charging that. Again, does it affect my bids-no. I just somehow find it offensive.

ullmandds · #5 12-23-2021, 02:33 PM

Quote:

Originally Posted by oldjudge

I have no problem with auction houses who produce a nice catalog charging a 20% buyers premium. Catalog production and mailing costs are high. I do have a problem with on line auctions charging that. Again, does it affect my bids-no. I just somehow find it offensive.

+1

Peter_Spaeth · #6 12-23-2021, 02:49 PM

Quote:

Originally Posted by oldjudge

I have no problem with auction houses who produce a nice catalog charging a 20% buyers premium. Catalog production and mailing costs are high. I do have a problem with on line auctions charging that. Again, does it affect my bids-no. I just somehow find it offensive.

Again, it only affects consignors, and if they thought it was too high they would vote with their feet.

1954 topps · #7 12-23-2021, 08:09 PM

Quote:

Originally Posted by oldjudge

I have no problem with auction houses who produce a nice catalog charging a 20% buyers premium. Catalog production and mailing costs are high. I do have a problem with on line auctions charging that. Again, does it affect my bids-no. I just somehow find it offensive.

My thoughts exactly, Memory Lane, Heritage Auctions, REA send out some amazing catalogs, many I keep for reference material. 20% for a front and back scan and an often recycled card description, that is a rip-off and they�ll likely lose consignments. I�m seeing Heritage pick up market share lately on vintage. Anyone else noticing that trend?

Dead-Ball-Hitter · #8 12-23-2021, 12:57 PM

Quote:

Originally Posted by Peter_Spaeth

Would you be happier if there was no premium but you had to bid 20 percent higher to win?

I think many of us agree with you in theory Peter. But as a few have stated, in practice, likely many of us have failed to fully do the "mental math" and thus have overpaid. I believe, as expressed by others, that's not uncommon in the heat of the moment. And while I agree that would be the buyer's fault, I'm confident the AH is counting on such lapses to inflate their margin. Why else would most AH's not display the true cost of purchase?

Peter_Spaeth · #9 12-23-2021, 01:11 PM

Quote:

Originally Posted by Dead-Ball-Hitter

I think many of us agree with you in theory Peter. But as a few have stated, in practice, likely many of us have failed to fully do the "mental math" and thus have overpaid. I believe, as expressed by others, that's not uncommon in the heat of the moment. And while I agree that would be the buyer's fault, I'm confident the AH is counting on such lapses to inflate their margin. Why else would most AH's not display the true cost of purchase?

I have been caught up in the heat of the moment many times and doubtless bid too high but that doesn't mean I somehow FORGOT there was a BP. Badly wanting a card doesn't make one brain dead.

oldjudge · #10 12-23-2021, 02:20 PM

I think auction houses should start rebating a portion of the buyers commission to buyers. Again, this theoretically should have no impact on buyers net bids, but somehow it would make me feel better.

Snapolit1 · #11 12-23-2021, 05:05 PM

Quote:

Originally Posted by Peter_Spaeth

I have been caught up in the heat of the moment many times and doubtless bid too high but that doesn't mean I somehow FORGOT there was a BP. Badly wanting a card doesn't make one brain dead.

There is something of course counter intuitive in agreeing to pay a certain price for an item and then receiving a bill for 30% more (BP, tax, shipping). Do I forget about it? No. Do I always have it top of mind? No. Many auctions I don't go in with a fixed idea that I'm spending $3885 and not a penny more. And when you see heating bidding it's easy to think "hey maybe this is worth mote than I thought. Other people want it too. . . " All I ask is that the AH post at time of bidding what the actual price with BP will be. Don't think that's unreasonable to ask.

Peter_Spaeth · #12 12-23-2021, 05:09 PM

Quote:

Originally Posted by Snapolit1

There is something of course counter intuitive in agreeing to pay a certain price for an item and then receiving a bill for 30% more (BP, tax, shipping). Do I forget about it? No. Do I always have it top of mind? No. Many auctions I don't go in with a fixed idea that I'm spending $3885 and not a penny more. And when you see heating bidding it's easy to think "hey maybe this is worth mote than I thought. Other people want it too. . . " All I ask is that the AH post at time of bidding what the actual price with BP will be. Don't think that's unreasonable to ask.

How hard is it to figure out? One simple calculation. Geez. And when one has bid in countless auctions how can one not have the BP and extras in mind? It's not like any auction doesn't charge a BP. I dunno Steve, shaking my head at this one.

Snapolit1 · #13 12-23-2021, 07:52 PM

Quote:

Originally Posted by Peter_Spaeth

How hard is it to figure out? One simple calculation. Geez. And when one has bid in countless auctions how can one not have the BP and extras in mind? It's not like any auction doesn't charge a BP. I dunno Steve, shaking my head at this one.

Sigh. Who said it was hard. It's not hard. All I said was there have been times where I've been caught up in the emotion of an auction and bid more that I probably should have in light of the 30% markup that is tacked on.

Some of you guys shouldn't be wasting time on the board but should be re-writing most of the major texts on economics. The economics classes I took all talked about how people make imperfect decisions in the marketplace based not only on information but based on emotion and a plethora of other non-quantitative factors.

Peter_Spaeth · #14 12-23-2021, 08:00 PM

Quote:

Originally Posted by Snapolit1

Sigh. Who said it was hard. It's not hard. All I said was there have been times where I've been caught up in the emotion of an auction and bid more that I probably should have in light of the 30% markup that is tacked on.

I guess I've never been so emotional about an auction that I haven't understood what number I was really bidding. I've certainly bid too much many many times, but with full understanding of what I was doing. I guess I don't really understand the concept of losing sight of that, once you know it how can you unknow it, but I'll take you at your word.

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