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Why is the Superior auction charging 20% buyer premium?

DesertLizardDesertLizard Posts: 702 ✭
in U.S. Coin Forum
Their pre LB auction has a 15% premium and the LB auction has 20%. What are they smoking?

I refuse to bid in either auction. This is a gauge of the online bidder. I guess they expect on the online bidders to not only set themselves up to be snipped by floor bidders but also pay an extra 5% for the priveledge when they have a winning bid?

Just say NO!

Comments

  • coynclectercoynclecter Posts: 2,111
    Simple answer

    some fools are willing to pay it
  • PlacidPlacid Posts: 11,299 ✭✭✭
    I would if I found a coin I really wanted.
    It's cheaper than paying to travel to the auction from where I am.
    Of course if it were expensive enough of a coin then it wouldn't.
    I would also have to figure the 20% into my bid so I would be at a extreme disavantage to the floor bidders.

    Heritage did they same thing when they had the ana ny auction thru eBay's live bid.
    It looks like they are not going to offer the eBay live bid for long beach.
  • jomjom Posts: 3,441 ✭✭✭✭✭
    The extra 5% is probably for the Ebay live bidding. Just factor the cost of the premium into your bid. It's not a big deal. You do have a disadvantage if you are bidding from Ebay though... image

    jom
  • dorkkarldorkkarl Posts: 12,691 ✭✭✭
    it wouldn't bother me. just deduct an add'l 5% from your max bid.

    K S
  • FC57CoinsFC57Coins Posts: 9,140 ✭
    The market is hopping right now and some people are coming up with stupid money to buy stuff - so what difference would it make to these people if Superior charges an extra 5%. The only ones getting screwed are the lowly collectors. IMHO.

    Frank
  • KeyrockKeyrock Posts: 961 ✭
    I thought I saw a flyer from them when they were looking for material stating that the consignor would receive 105% of the hammer price. I'm not 100% sure but I think I'm right
  • BillJonesBillJones Posts: 33,964 ✭✭✭✭✭
    I'll never understand these people who view the buyers' fee as a throw away. I wish all of my customers would be so willing to pay me a no questions asked 20% gross margin. It would make my life a lot easier.

    Just because it's in an auction does not make it a good deal.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • dbldie55dbldie55 Posts: 7,731 ✭✭✭✭✭
    It is just the Ebay portion. Ebay isn't going to do this for free. If you do not like it, do not bid on Ebay and attend the auction. Then it will only be the standard 15%.
    Collector and Researcher of Liberty Head Nickels. ANA LM-6053

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