Where did "...with the juice" originate?

RegistryCoin

njcoincrank

I'm not sure, but I believe it was around 20-25 years ago. Prior to that time auction house used to charge the consignor anywhere from 15-20 percent of the hammer price to sell a coin. There was no buyer's premium. Then the changed their fee schedule to 10 and 10. That is 10% of the selling price was taken from the consignor and the buyer paid a 10% fee to the auction house for buying the piece. The fee paid by the buyer is what is known as the "juice".

This practice of having a buyer's fee originated in the major auction houses in Europe I believe.

njcoincrank

longtimecollector

I think the reference has to do with "getting squeezed"

haletj

I was looking at auction catalogs from the mid 80's when I was a kid (I didn't buy anything, just loved the pictures!), and the "juice" was always 10%. When did they change it to 15%? Why? Did people complain?

Libertad

Older term for the interest charged weekly (or daily) by loansharking money management institutions.
Later 'juice' referred to a bookmaker's commission, typically $1 to the bookie for every $10 bet made through
him.
Believed to be synonymous with 'vigorish', the term for usury interest, and generally illegal.

haletj

Cool! Great response.