Uh OH..... CNG raised their rate on their auctions.

bidask

"3. A 22.5% Buyer's fee will be added to the hammer price."

I did not know this

bronzemat

I think it's been that way for a little while now and they sent an email blast about it.

MrBreeze

Yes, it has been that, and it’s for printed sales like Triton. I believe the regulars are still 20.

291fifth

What will the market bear? The auction houses are always trying to find out.

scubafuel

It’s always worth mentioning that these “buyers” fees should have no effect on buyers. It could be 300% and would make no difference as long as it is disclosed.

But if they raise fees and do not make that clear to bidders, that would be very frustrating!

RSP

Yes, it's the consignors who should take notice and be concerned. The buyers will only pay as much as they will. RSP

numismagram

Consignors in general pay little attention to this, as sellers' fees have correspondingly dropped over time. In order to lure consignments away from other auction houses, the rates offered to sellers have continued to become more and more favorable. As such, in order to "pay" for the consignor netting a higher and higher rate, the buyers have seen it rise on their end.