"Who gets the money from a buyer's premium at an auction?
It is charged by the auctioneer in addition to the commission which has always been charged by auction houses to sellers. All of the buyer's premium is retained by the auction house and is not shared with the item's seller."
Wow - $1.2 million in fees to the buyer, plus the seller pays a commission.
I'd have to believe the REA folks will be dining good tonight. Lobsters and caviar, and keep the vintage wine coming. 😆
@stevek said:
"Who gets the money from a buyer's premium at an auction?
It is charged by the auctioneer in addition to the commission which has always been charged by auction houses to sellers. All of the buyer's premium is retained by the auction house and is not shared with the item's seller."
Wow - $1.2 million in fees to the buyer, plus the seller pays a commission.
I'd have to believe the REA folks will be dining good tonight. Lobsters and caviar, and keep the vintage wine coming. 😆
With premium cards like this, often the ‘regular rules’ are thrown out the window so, a lot of times, the consignor gets a piece of the buyers premium, too. In select cases, it can even be all of it if the auction house believed it will draw a significant number of eyeballs to the auction, of course depending on the item and the auction house.
I thought the overall auction itself was pretty strong, too. I know we’re not in the era where every auction is producing new all time highs but the prices still looked pretty good. Any card is riskier to try to flip right now but a vintage star card that’s been in your collection for a while is probably still up pretty good…
Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?
@craig44 said:
I thought it would go for more. rough economy/inflation.
Joe Jackson and Honus Wagner cards are unstoppable right now.
1909 E90 Jackson graded SGC 3(old slab) with corners as round as a 1971 Topps Super went for $108,000.
Some good deals in the auction but many that went through the roof.
Ruth Baltimore price was a decent deal comparatively to other cards that have sold, though it looked kind of rough for the grade and as some mentioned it isn't the best image of Ruth or very attractive card. I too like the 1916 Sporting News card better.
Surprised the other Baltimore News cards didn’t hit the unknown reserve. Unless owner is going to downgrade the Ruth - not super exciting to own the others. Think I would have gone Jo reserve on those if I were selling. As always congrats to the buyer.
I wonder if the highest bidder can bid to reach the reserve after the auction since he cannot bid himself up (I think he can't)?
My guess is that if an auction house such as this, could make a buck off it, by getting the seller and a potential buyer together to negotiate a private deal, it would be done.
Frankly, I think the seller was asking way, WAY too much money for these cards, since the reserve wasn't met. There was action on it - bidding got to 97.5k.
I think his thinking may have gotten convoluted with hoping the Ruth card would prop up these cards to a "money is no object" level. However there's a gigantic difference between a Babe Ruth card and these. I think he should have taken the 97.5k, and perhaps he will privately.
Comments
"Who gets the money from a buyer's premium at an auction?
It is charged by the auctioneer in addition to the commission which has always been charged by auction houses to sellers. All of the buyer's premium is retained by the auction house and is not shared with the item's seller."
Wow - $1.2 million in fees to the buyer, plus the seller pays a commission.
I'd have to believe the REA folks will be dining good tonight. Lobsters and caviar, and keep the vintage wine coming. 😆
With premium cards like this, often the ‘regular rules’ are thrown out the window so, a lot of times, the consignor gets a piece of the buyers premium, too. In select cases, it can even be all of it if the auction house believed it will draw a significant number of eyeballs to the auction, of course depending on the item and the auction house.
I thought the overall auction itself was pretty strong, too. I know we’re not in the era where every auction is producing new all time highs but the prices still looked pretty good. Any card is riskier to try to flip right now but a vintage star card that’s been in your collection for a while is probably still up pretty good…
Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?
https://forums.collectors.com/discussion/987963/1951-wheaties-premium-photos-set-registry#latest
…what were your thoughts on the rest of the offering, in general, @stevek ?
Curious about the rare, mysterious and beautiful 1951 Wheaties Premium Photos?
https://forums.collectors.com/discussion/987963/1951-wheaties-premium-photos-set-registry#latest
There were some temptations on there. I haven't been much of a pre-WW2 card collector. However I've been considering that possibility.
I particularly like those Old Judge cards. I looked at a few on this auction, but figured perhaps they might sell for less on Ebay.
$450,000 TO 7.2m IN 10 YEARS DID a little bit better than my cisco and Bank of America stocks.
Will they take a two party check? The Prince in Nigeria will vouch for the check.
The other 1914 Baltimore News cards did not meet reserve.
I wonder if the highest bidder can bid to reach the reserve after the auction since he cannot bid himself up (I think he can't)?
I thought it would go for more. rough economy/inflation.
George Brett, Roger Clemens and Tommy Brady.
Joe Jackson and Honus Wagner cards are unstoppable right now.
1909 E90 Jackson graded SGC 3(old slab) with corners as round as a 1971 Topps Super went for $108,000.
Some good deals in the auction but many that went through the roof.
Ruth Baltimore price was a decent deal comparatively to other cards that have sold, though it looked kind of rough for the grade and as some mentioned it isn't the best image of Ruth or very attractive card. I too like the 1916 Sporting News card better.
Surprised the other Baltimore News cards didn’t hit the unknown reserve. Unless owner is going to downgrade the Ruth - not super exciting to own the others. Think I would have gone Jo reserve on those if I were selling. As always congrats to the buyer.
My guess is that if an auction house such as this, could make a buck off it, by getting the seller and a potential buyer together to negotiate a private deal, it would be done.
Frankly, I think the seller was asking way, WAY too much money for these cards, since the reserve wasn't met. There was action on it - bidding got to 97.5k.
I think his thinking may have gotten convoluted with hoping the Ruth card would prop up these cards to a "money is no object" level. However there's a gigantic difference between a Babe Ruth card and these. I think he should have taken the 97.5k, and perhaps he will privately.