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#1
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What is a fair price for shipping and insurance? I am not a customer of Lelands, but I spoke with a friend today who just won an item in their auction in the $20K range and was charged nearly $200 for shipping and insurance. The item is small and weighs less than a pound, so the standard UPS shipping portion of it is negligible.
He asked me my opinion and I said that I thought that 1% seemed exhorbanant to me, but I do not play in that league. I was just curious as to what other's opinions are on this subject. Last edited by robertsmithnocure; 03-18-2025 at 03:45 PM. |
#2
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I am no shipping expert, but I think the cost is for the insurance.
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#3
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Yes, I corrected my post. I should have been more clear and said that the fee was for shipping and insurance. My guess is that shipping is probably on ly $20 for his item, but the insurance is nearly $200. The insurance portion is what he was questioning.
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#4
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Postal Registered would be the way to go, the insurance is much cheaper on a registered packaged. Declared value of $20,000 would be postage plus $42.10 I imagine, like most auctions, they have private insurance, so guessing costs is tough, but if you know the other options you at least have an idea.
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Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible! and Facebook: https://www.facebook.com/thecollectorconnectionauctions |
#5
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Hi Scott,
Is there any reason for an auction house to have a separate % insurance coverage if they have a policy covering their entire operation like Collectibles Insurance? Mailing and Shipping – For shipments to your customers anywhere in the world. Temporary and permanent shipping coverages are available to accommodate your delivery needs. Thanks for your insight! |
#6
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We lose a good amount of money on shipping every auction (we charge actual postage or shipping plus the discounted insurance rate plus $5, which in most cases doesn't even cover the supplies let alone the labor) so the idea that now we're going to insure for free is a non-starter. But I get it, half of the posts I respond to seem to take the point of view that auctions don't deserve to make money because they make too much money...
__________________
Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible! and Facebook: https://www.facebook.com/thecollectorconnectionauctions |
#7
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__________________
Eric Perry Currently collecting: T206 (135/524) 1956 Topps Baseball (195/342) "You can observe a lot by just watching." - Yogi Berra |
#8
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Scott, thanks for the insight. I appreciate it. But understand that many other auction houses line item the insurance at 1%(which is comparable to USPS as you stated) on top of very high shipping costs(sometimes stated with listing)-and buyer %'s that are higher than yours, and in some cases, much higher...
Because that policy isn't free so why would you get the coverage for free? It costs thousands of dollars a quarter, even for our coverage which I am sure is lower in dollar value than the huge companies. We basically figured out, over the course of a year, what the insurance cost us compared to using postal or carrier insurance per package and pass along a HUGE discount (less than 50%) compared to the various carrier rates. We lose a good amount of money on shipping every auction (we charge actual postage or shipping plus the discounted insurance rate plus $5, which in most cases doesn't even cover the supplies let alone the labor) so the idea that now we're going to insure for free is a non-starter. But I get it, half of the posts I respond to seem to take the point of view that auctions don't deserve to make money because they make too much money...[/QUOTE] |
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