NonSports Forum

Net54baseball.com
Welcome to Net54baseball.com. These forums are devoted to both Pre- and Post- war baseball cards and vintage memorabilia, as well as other sports. There is a separate section for Buying, Selling and Trading - the B/S/T area!! If you write anything concerning a person or company your full name needs to be in your post or obtainable from it. . Contact the moderator at leon@net54baseball.com should you have any questions or concerns. When you click on links to eBay on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network. Enjoy!
Net54baseball.com
Net54baseball.com
ebay GSB
T206s on eBay
Babe Ruth Cards on eBay
t206 Ty Cobb on eBay
Ty Cobb Cards on eBay
Lou Gehrig Cards on eBay
Baseball T201-T217 on eBay
Baseball E90-E107 on eBay
T205 Cards on eBay
Baseball Postcards on eBay
Goudey Cards on eBay
Baseball Memorabilia on eBay
Baseball Exhibit Cards on eBay
Baseball Strip Cards on eBay
Baseball Baking Cards on eBay
Sporting News Cards on eBay
Play Ball Cards on eBay
Joe DiMaggio Cards on eBay
Mickey Mantle Cards on eBay
Bowman 1951-1955 on eBay
Football Cards on eBay

Go Back   Net54baseball.com Forums > Net54baseball Main Forum - WWII & Older Baseball Cards > Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions

Reply
 
Thread Tools Display Modes
  #1  
Old 10-20-2007, 02:07 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: David Davis

The rate itself aside, most people I would think accept the fact that there is a buyer's premium associated with auction houses.

It was pleasing to see that Leland's new Foto archive auctions has no buyer's premium indicated. This makes sense since they own all of the material, and are making their money on the sale of the item, rather than just a consignor's fee.

This also could lead to a separate discussion on whether auction houses should charge a BP on items they own.

Reply With Quote
  #2  
Old 10-20-2007, 02:14 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: barrysloate

David- while that's a fair point, it would get complicated as lots would have to be offered in the same auction with two different sets of terms. And there would be a huge incentive not to admit a lot is owned by the house, wouldn't there?

Reply With Quote
  #3  
Old 10-20-2007, 02:51 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: Jay

Makes no difference to the buyer. At the end of the day you bid what you are willing to pay, including all costs. If you are willing to pay $1200 for a lot you bid $1200 if there is no buyers premium or $1000 if there is a 20% buyers premium. That is why higher buyers premiums hurt consignors and, everything else held equal, consignors should consign their material to the auction house with the lowest buyers premium.

Reply With Quote
  #4  
Old 10-20-2007, 02:58 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: Matt

Jay - while in a perfect world, you're correct, usually with auctions the buyer's premium is hidden or written in smaller font and while the buyer knows there's going to be "juice" added, he may underestimate what it ends up being; thereby spending more then he wanted to.

Reply With Quote
  #5  
Old 10-20-2007, 03:01 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: Brian

A fool and his money are soon parted.

I am quiet sure that bidders in Mastro et al can do the math.

Reply With Quote
  #6  
Old 10-20-2007, 03:02 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: Jay

Matt--There is an old quote: "a fool and his money are soon seperated." Only a fool would not know the conditions that he was bidding under.

Reply With Quote
  #7  
Old 10-20-2007, 03:02 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: Jay

Wow! Brian that's scarey.

Reply With Quote
  #8  
Old 10-20-2007, 03:08 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: Brian

Reply With Quote
  #9  
Old 10-20-2007, 03:26 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: Matt

Again, I didn't say he was unaware of the buyer's premium, but he may do a rough calculation in his head that's short. And again, in an ideal world, you're correct, but practically speaking, I think it's an issue.

Reply With Quote
  #10  
Old 10-20-2007, 03:58 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: T206Collector

The people that don't factor in the juice, but know it is coming, are simply willing to pay more for the item, even if they haven't figured out exactly what they're bidding.

The way I look at it is this -- the reason I do the math carefully is because I have pre-ordained total expenditure limits; the bidders who don't do the math just have higher limits than I do.

Reply With Quote
  #11  
Old 10-20-2007, 04:08 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: Brian

I am fairly certain that anyone successful enough to buy cards at auction falls into one of the following three categories:

1. might be capable of using a calculator or spreadsheet
2. might be good enough at math to figure 20% of a number
3. might have so much scratch that a rounding error will not change their lifestyle

If someone can't do at least one of the three preceding steps, that person has greater issues in his life than overpaying an auction house by a point or two on the vig. They likely struggle telling time, replacing light bulbs, paying taxes, or buying things at the store.

Reply With Quote
  #12  
Old 10-20-2007, 04:31 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: barrysloate

Brian- couldn't have said it better myself. If the 20% is meaningful, you darn well better figure it out. And if money is no object, then just keep bidding until you win it.

Reply With Quote
  #13  
Old 10-20-2007, 04:59 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: JimCrandell

Do the math--it doesn't matter if you are a buyer.

Everyone I know factors it in--why wouldn't you?

Reply With Quote
  #14  
Old 10-20-2007, 05:01 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,359
Default Lelands Does the Right Thing with Buyer's Premium

Posted By: Alan

For some bidders with very deep pockets, they couldn't care if the buyers fee is 0% or 80% - they will just bid higher than anyone else for the lot they want.

Reply With Quote
Reply



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Psychology of the Buyer's Premium Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 20 05-24-2008 10:57 AM
buyer's premium Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 14 09-13-2007 03:46 PM
17.5% buyer's premium Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 9 01-11-2007 02:23 PM
What is the rationale behind a buyer's premium on an auction Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 20 11-29-2006 10:09 PM
What would you do if ebay charged a buyer's premium? Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 5 07-30-2006 05:06 PM


All times are GMT -6. The time now is 03:12 AM.


ebay GSB