Goldin Increasing Buyer's Premium

[D. Bergin]

Originally Posted by oldjudge

With the new higher fees would someone please explain to me why anyone would consign to Goldin rather than REA, HA, LOTG, Memory Lane or a lot of other auction houses. This is a legitimate question. I just don't see why this will net them more money. I would think that this would cost them consignors and they will actually net less. Do they have bidders that others don't? Do they have a better platform than others? Thanks for any input.

One word.

"Netflix"


The casual collector, inheritees, and athletes who have accumulated lots of stuff but don't have a collectors mentality will go with the guy who flies around on private jets and gets world record prices (according to a television show they saw).

[brianp-beme]

Originally Posted by D. Bergin

One word.

"Netflix"


The casual collector, inheritees, and athletes who have accumulated lots of stuff but don't have a collectors mentality will go with the guy who flies around on private jets and gets world record prices (according to a television show they saw).

Unfortunately, ouchingly true. He is the updated version of Mr. Mint.


brianp(arker)-beme

[Exhibitman]

Originally Posted by brianp-beme

Unfortunately, ouchingly true. He is the updated version of Mr. Mint.


brianp(arker)-beme

Without the personality, but he does have a bigger variety of greasy sidekicks.

[Yoda]

Originally Posted by Exhibitman

Without the personality, but he does have a bigger variety of greasy sidekicks.

Too true. Mr. Mint only had Zubes, his Pancho Sanza, while Goldin has many dubious assistants.

[Exhibitman]

The 1099s aren't the issue with eBay, the cost is. eBay has gotten ever grubbier, to the point where DIY selling there isn't worth it. Even when I had my store and my top-rated seller status, the combination of closing fees payment processing fees charged on the hammer AND the shipping AND the sales tax, and shipping costs, put me at nearly 15% of the hammer price OOP. Well, for 5% more I can send the same cards to REA for the Encore auction and avoid the time suckage of retailing dozens of items? Plus, no whining, no lost items, and no returns? That's a no-brainer for me.

[molenick]

Originally Posted by Yoda

Too true. Mr. Mint only had Zubes, his Pancho Sanza, while Goldin has many dubious assistants.

I hate to be a nitpicker, but as a Lit major in college, I am obligated to point out that Don Quixote's sidekick was Sancho Panza.

[Exhibitman]

Originally Posted by molenick

I hate to be a nitpicker, but as a Lit major in college, I am obligated to point out that Don Quixote's sidekick was Sancho Panza.

Pancho Sanza?

Forget it, he's rolling.

[Peter_Spaeth]

Originally Posted by molenick

I hate to be a nitpicker, but as a Lit major in college, I am obligated to point out that Don Quixote's sidekick was Sancho Panza.

I like him. I really like him.

[brianp-beme]

Originally Posted by molenick

I hate to be a nitpicker, but as a Lit major in college, I am obligated to point out that Don Quixote's sidekick was Sancho Panza.

Just be thankful you are not one of those persnickety picknitters...those are the type of folks that are bound and determined to go tilting at windmills.

Brian

[MikeGarcia]

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[1952boyntoncollector]

always comes down to what the sales are...really doesnt matter all the speculation...maybe they use some of that extra money to advertise or harass people on the phone to check out their auctions more..

[CrazyCow]

I personally think that everything has become worse over at Goldin, in the past I could negotiate and get at least 10% of the buyer's premium without any problems, today it is difficult to get anything at all.

I usually sell cards and tickets in the $5,000 - $70,000 range.

Today I have some auctions going, I managed to get a 110% deal on them but it's the last time I sell anything over at Goldin, I have decided to transfer my sales over to Probstein instead.


----------UPDATE!----------

I have to take my hat off as I was contacted by a representative from Goldin, they have listened to my concerns.

I have always had a good cooperation with Goldin in the past and after this conversation I feel that we are back on that track.

This proves also that Mr. Goldin cares about us slightly smaller players in the hobby, a big star to him and his staff and thanks again for taking the time to contact me, I appreciated it a lot!

[BeanTown]

Originally Posted by CrazyCow

I personally think that everything has become worse over at Goldin, in the past I could negotiate and get at least 10% of the buyer's premium without any problems, today it is difficult to get anything at all.

I usually sell cards and tickets in the $5,000 - $70,000 range.

Today I have some auctions going, I managed to get a 110% deal on them but it's the last time I sell anything over at Goldin, I have decided to transfer my sales over to Probstein instead.

I would look also at REA and Heritage as well with those values. I’ve never consigned with Goldin and don’t think I ever will since they do not have a public number for customers to call. I’ve been frustrated in years past waiting in responses for auction descriptions, shipping options, and payment methods. Not too mention possible rebates on consignments. So, I hope Goldin enjoys being a virtual company which includes the vault and all. I think I’ll stick with the old fashion way of dealing with a brick and mortar kind of company where I can still talk to someone live on the phone from time to time.

[Snowman]

I'm with you there. I had a $25k card and a few $10k to $15k cards that I was going to send to Goldin, but they are going to PWCC and REA now. Goldin has become rapacious, and as consigners we simply have better options.

If a consignment company wants my business, they can have between 5% to 10% of the all-in price paid by the buyer for anything above $1k. If they want more than that, they're getting my middle finger instead because there are plenty of great options at those rates that will yield just as strong of hammer prices.

[calvindog]

Originally Posted by Snowman

I'm with you there. I had a $25k card and a few $10k to $15k cards that I was going to send to Goldin, but they are going to PWCC and REA now. Goldin has become rapacious, and as consigners we simply have better options.

If a consignment company wants my business, they can have between 5% to 10% of the all-in price paid by the buyer for anything above $1k. If they want more than that, they're getting my middle finger instead because there are plenty of great options at those rates that will yield just as strong of hammer prices.

REA and PWCC give back 15% of the BP?

[Exhibitman]

Originally Posted by calvindog

REA and PWCC give back 15% of the BP?

Heh, I see what you did there...

[Snowman]

Originally Posted by calvindog

REA and PWCC give back 15% of the BP?

Not for inexpensive items obviously, but yes, they usually will give you somewhere between 110% to 115% of the hammer price for higher end cards in my experience, if that's what you're asking (which is technically different from getting back 15% of the 20% BP).

That said, in a perhaps welcomed twist of fate, someone from Goldin called me today, after reading the forums, and said they would be willing to match the 115% of hammer price for some of my nicer cards in an effort to earn my business. So their rate is definitely more negotiable than I had previously thought, and I can respect someone caring enough to reach out personally. I'm always more inclined to work with someone that wants to earn my business.

[Casey2296]

Originally Posted by Snowman

Not for inexpensive items obviously, but yes, they usually will give you somewhere between 110% to 115% of the hammer price for higher end cards in my experience, if that's what you're asking (which is technically different from getting back 15% of the 20% BP).

That said, in a perhaps welcomed twist of fate, someone from Goldin called me today, after reading the forums, and said they would be willing to match the 115% of hammer price for some of my nicer cards in an effort to earn my business. So their rate is definitely more negotiable than I had previously thought, and I can respect someone caring enough to reach out personally. I'm always more inclined to work with someone that wants to earn my business.

I'm more inclined to work with an AH that has earned respect over the long term with collectors in the pre-war hobby and it certainly is not Goldin or PWCC no matter how much step n' fetch it they do to "earn your business".
I've had AH's do me favors and I've done them favors, we both have to make money, that's a given, a good AH relationship goes way beyond that IMHO.

[jjbond]

Originally Posted by Snowman

I'm with you there. I had a $25k card and a few $10k to $15k cards that I was going to send to Goldin, but they are going to PWCC and REA now. Goldin has become rapacious, and as consigners we simply have better options.

If a consignment company wants my business, they can have between 5% to 10% of the all-in price paid by the buyer for anything above $1k. If they want more than that, they're getting my middle finger instead because there are plenty of great options at those rates that will yield just as strong of hammer prices.

Being new to consignments....is this how it works? Say you send a card to an AH, and it sells for $2000. You'd get something like 105% or 110% of that? (and nothing else out of pocket?). And so auction houses just make their $ on the remainder of the BP?

(And do sellers set minimums....or the AH?....or do you just trust enough eyes get on your card that it reaches projected market value?)

[Aquarian Sports Cards]

if you get a piece of the BP on a single $2000 item you are doing very well.

[Exhibitman]

Originally Posted by jjbond

Being new to consignments....is this how it works? Say you send a card to an AH, and it sells for $2000. You'd get something like 105% or 110% of that? (and nothing else out of pocket?). And so auction houses just make their $ on the remainder of the BP?

(And do sellers set minimums....or the AH?....or do you just trust enough eyes get on your card that it reaches projected market value?)

Nope. Not how it works. Run of the mill stuff from a one-off consignor, you are not going to get a great deal. If you are a good consignor (regularly consign good material that sells for a cumulative four-or-five figures a year) or you are a good customer who spends a good amount with the house, you should bargain for zero commission--you get 100% of the hammer price, the house gets the buyer's premium. You can also get a good deal if you are an influencer or a referral from an important customer or consignor and the house considers it a good business move to take less. If you are offering a really great (expensive) item, that is when you can bargain for a guarantee (a number you will get paid regardless of the sale price) or for a piece of the BP. If I had a T206 Wagner, for example, I would insist on the greater of a guarantee or 115% of the hammer price.

Guarantees and % above the hammer price are all a matter of leverage. Your $2K item is not going to get you the leverage to ask for these things. Your $2 million card, you can probably get anything you want.

I don't begrudge the house making a living; people gotta eat. I do get ticked off when Mr. Private Jet has to jack up his cut to feed his lifestyle.

[Casey2296]

Originally Posted by Exhibitman

Nope. Not how it works. Run of the mill stuff from a one-off consignor, you are not going to get a great deal. If you are a good consignor (regularly consign good material that sells for a cumulative four-or-five figures a year) or you are a good customer who spends a good amount with the house, you should bargain for zero commission--you get 100% of the hammer price, the house gets the buyer's premium. You can also get a good deal if you are an influencer or a referral from an important customer or consignor and the house considers it a good business move to take less. If you are offering a really great (expensive) item, that is when you can bargain for a guarantee (a number you will get paid regardless of the sale price) or for a piece of the BP. If I had a T206 Wagner, for example, I would insist on the greater of a guarantee or 115% of the hammer price.

Guarantees and % above the hammer price are all a matter of leverage. Your $2K item is not going to get you the leverage to ask for these things. Your $2 million card, you can probably get anything you want.

I don't begrudge the house making a living; people gotta eat. I do get ticked off when Mr. Private Jet has to jack up his cut to feed his lifestyle.

Everybody has their own way, for me I never ask to get in the pockets of the AH and never accept an AH getting in my pockets. So when I consign a $1000 card I'm not paying anything but I'm not grinding on an 8000 card either.
Works for me but YMMV.

[CrazyCow]

Originally Posted by CrazyCow

I personally think that everything has become worse over at Goldin, in the past I could negotiate and get at least 10% of the buyer's premium without any problems, today it is difficult to get anything at all.

I usually sell cards and tickets in the $5,000 - $70,000 range.

Today I have some auctions going, I managed to get a 110% deal on them but it's the last time I sell anything over at Goldin, I have decided to transfer my sales over to Probstein instead.

----------UPDATE!----------

I have to take my hat off as I was contacted by a representative from Goldin, they have listened to my concerns.

I have always had a good cooperation with Goldin in the past and after this conversation I feel that we are back on that track.

This proves also that Mr. Goldin cares about us slightly smaller players in the hobby, a big star to him and his staff and thanks again for taking the time to contact me, I appreciated it a lot!

[SyrNy1960]

Originally Posted by CrazyCow

----------UPDATE!----------

I have to take my hat off as I was contacted by a representative from Goldin, they have listened to my concerns.

I have always had a good cooperation with Goldin in the past and after this conversation I feel that we are back on that track.

This proves also that Mr. Goldin cares about us slightly smaller players in the hobby, a big star to him and his staff and thanks again for taking the time to contact me, I appreciated it a lot!

Don't get me wrong. I'm happy things worked out for you. But when I see posts like this, I think of band-aids. A person has an issue, they express their pain and injury, a band-aid is applied, they are happy, then it's back to normal business again. Consistency is important. Again, happy things worked out for you!

[CrazyCow]

Originally Posted by SyrNy1960

Don't get me wrong. I'm happy things worked out for you. But when I see posts like this, I think of band-aids. A person has an issue, they express their pain and injury, a band-aid is applied, they are happy, then it's back to normal business again. Consistency is important. Again, happy things worked out for you!

Yes, I'm satisfied that a good agreement still can be reached.

What bothers me now is that the payouts are lagging behind, Goldin writes in its terms and conditions that payment is made no later than 10 business days after the buyer has paid, I still have not seen the smoke of any money and we have passed the 10 business days mark from my last auction.

As a sports card and memorabilia dealer I need a constant cash flow, I can't wait several weeks, in some cases months for a payout after the buyer has paid.

And the Goldin customer service just sends out an response that they can't do anything about it, not what I'm used to!

[Snapolit1]

Many years and never had an issue with Goldin shipping. If I grab a 250$ item I don’t expect it will be the most important thing on their agenda the following day to move out the door.

[rjackson44]

Originally Posted by D. Bergin

One word.

"Netflix"


The casual collector, inheritees, and athletes who have accumulated lots of stuff but don't have a collectors mentality will go with the guy who flies around on private jets and gets world record prices (according to a television show they saw).

Hi dave as long as you my good friend does not charge me 22 percent i will always stick with you ..dave bergin rocks