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  #1  
Old 04-19-2022, 09:45 AM
Aquarian Sports Cards Aquarian Sports Cards is offline
Scott Russell
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Originally Posted by justrun7 View Post
I don't mind when each lot closes individually with extended bidding. That gives everyone a chance to bid on their lots. I do not think it is fair when the entire auction has to wait for all bids to stop for 15 minutes before the auction closes.
Couldn't agree more. To go back to my live auction example. If we're on lot 32 and it gets another bid that doesn't mean someone can say "Hey I want to bid on lot 24 because lot 32 is still open!"
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  #2  
Old 04-19-2022, 09:53 AM
Hordfest Hordfest is offline
Brand0n H0rd
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I get what you guys are saying. By "unfair" I just meant that it is frustrating that it can become a contest of whomever can stay awake later...
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  #3  
Old 04-19-2022, 10:04 AM
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Originally Posted by Hordfest View Post
I get what you guys are saying. By "unfair" I just meant that it is frustrating that it can become a contest of whomever can stay awake later...
We have been saying this since AH's started doing auctions. Everyone should quit consigning to AH's that want to make us stay up all night. That might get their attention.
.
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  #4  
Old 04-19-2022, 10:32 AM
BRoberts BRoberts is offline
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I get what you guys are saying. By "unfair" I just meant that it is frustrating that it can become a contest of whomever can stay awake later...
Am eager to hear your thoughts on buyer's premium.
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  #5  
Old 04-19-2022, 10:55 AM
Hordfest Hordfest is offline
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Am eager to hear your thoughts on buyer's premium.
Buyer's premium?
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  #6  
Old 04-19-2022, 11:03 AM
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darwinbulldog darwinbulldog is offline
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Originally Posted by Hordfest View Post
Buyer's premium?
Auction houses tack on a buyer's premium (typically 20%) to the winning bid, so if the winning bid is $1,000 that's akin to placing a winning bid of $1,200 on eBay when you get the bill. Definitely something to be aware of before you place any serious bids with an auction house.
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  #7  
Old 04-19-2022, 11:06 AM
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brianp-beme brianp-beme is online now
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Originally Posted by darwinbulldog View Post
Auction houses tack on a buyer's premium (typically 20%) to the winning bid, so if the winning bid is $1,000 that's akin to placing a winning bid of $1,200 on eBay when you get the bill. Definitely something to be aware of before you place any serious bids with an auction house.
And don't forget to check beforehand if the winning bid will also be assessed state sales tax...it varies from auction house to auction house, and also can depend on what state you live in.

Brian
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  #8  
Old 04-19-2022, 11:15 AM
Hordfest Hordfest is offline
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Wait...so auction houses charge the sellers a 25% consignment fee AND buyers a 20% fee? And then possibly sales tax on top?!! What a freaking racket. These auction houses are just wringing collectors dry and getting rich in the process.

How do they stay in business?!
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  #9  
Old 04-19-2022, 11:32 AM
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darwinbulldog darwinbulldog is offline
Glenn
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And don't forget to check beforehand if the winning bid will also be assessed state sales tax...it varies from auction house to auction house, and also can depend on what state you live in.

Brian
I thought that was the same with eBay. Do they charge sales tax for everyone?
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  #10  
Old 04-19-2022, 11:14 AM
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Default Buyer's Premium....

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Originally Posted by Hordfest View Post
Buyer's premium?
I suggest reading the auction rules, terms and conditions before you bid. If you don't know what a buyer's premium is, if you win a lot in an auction, you will find out LOL
.

.
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  #11  
Old 04-19-2022, 11:20 AM
HexsHeroes HexsHeroes is offline
Vincent Hecksel
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.

. . . and lets not forget about the impact and fun that "shipping and handling" charges bring to the buyer's total cost
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  #12  
Old 04-19-2022, 11:16 AM
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Originally Posted by Hordfest View Post
Buyer's premium?
I read that and was waiting for you to go full GPK -

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  #13  
Old 04-19-2022, 03:16 PM
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Joe M.
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Originally Posted by Hordfest View Post
Buyer's premium?
Make sure you read all the rules of the auction. They all add a buyers premium.
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  #14  
Old 04-19-2022, 03:55 PM
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insidethewrapper insidethewrapper is offline
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Definitely the West Coast has the advantage because of when the auction ends. I like individual lots closing if no bids on them for 10-15 minutes after 9pm. This gives everyone a chance at a reasonable hour. Why keep all the lots open until 4-5 am. ?
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  #15  
Old 04-19-2022, 04:38 PM
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Hordfest/Brandon shouldn't have to pay any seller's premium.
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  #16  
Old 04-19-2022, 05:52 PM
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Snapolit1 Snapolit1 is offline
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Quote:
Originally Posted by insidethewrapper View Post
Definitely the West Coast has the advantage because of when the auction ends. I like individual lots closing if no bids on them for 10-15 minutes after 9pm. This gives everyone a chance at a reasonable hour. Why keep all the lots open until 4-5 am. ?
I'm fine with modified closing a number of AH have adopted where lots can close after midnight or 1 if there has been no bid in the last hour.

I think that's fair to consignors and bidders.

Last edited by Snapolit1; 04-19-2022 at 05:53 PM.
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