Goldin Increasing Buyer's Premium

jjbond · #1 05-23-2024, 12:36 PM

Quote:

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 · #2 05-23-2024, 01:34 PM

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

Exhibitman · #3 05-24-2024, 10:48 PM

Quote:

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 · #4 05-24-2024, 11:55 PM

Quote:

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.

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