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

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

I did not know this B)

I manage money. I earn money. I save money .
I give away money. I collect money.
I don’t love money . I do love the Lord God.




Comments

  • bronzematbronzemat Posts: 2,597 ✭✭✭✭✭
    edited December 10, 2022 2:46PM

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

  • MrBreezeMrBreeze Posts: 1,034 ✭✭✭
    edited December 11, 2022 8:44PM

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

  • 291fifth291fifth Posts: 23,851 ✭✭✭✭✭

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

    All glory is fleeting.
  • scubafuelscubafuel Posts: 1,715 ✭✭✭✭✭

    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!

  • RSPRSP Posts: 63 ✭✭

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

  • numismagramnumismagram Posts: 145 ✭✭✭

    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.

    Jeremy Bostwick

    For exceptional works of medallic art, check out our current inventory at Numismagram!

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