Mastronet just raised Buyer Premium to 20%-THAT SUCKS!!!!
chaz43
Posts: 2,140 ✭✭✭
Mastronet is going to price themselves right out of the market. Yeah, they have good stuff but who can afford it? And I am not so sure they "accurately" pregrade their raw cards either. Just my opinion. What do you guys think? chaz
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Comments
<< <i>If you can afford to bid 20,000.00 to 50,000.00 on a couple of lots, you wont even notice the increase. The average hardcore collector is having the hobby price him right out of the business. Its becoming more and more of the haves and have nots..... >>
That 2.5 % is a big jump. If you win an auction for 30K, that's an increase of $750 . I would notice it. It sucks. chaz
David
<< <i>People who bid $20-$50K on cards are wealthy. Wealthy people notice everything about money, that is how they got there. Just because they can afford it doesn't mean that they won't notice. >>
Totally agree. chaz
Loth
ive built my 54,56,57 topps sets mostly off ebay and thats where I plan to stay
<< <i>It has become very expensive to buy cards. I think these high premiums are going to hurt the seller because I factor the premium into my bid. My problem is that the cards I want do not usually find their way to ebay. I usually buy from collectors or auction houses. As far as raw cards, I assume that everybody is overgrading by one grade unless proving otherwise. In the case of Mastro, they have not proven otherwise.
David >>
In my experience with Mastro, they haven't proven otherwise either. chaz
Greed, pure greed.
Always looking for Topps Salesman Samples, pre '51 unopened packs, E90-2, E91a, N690 Kalamazoo Bats, and T204 Square Frame Ramly's
The December Premium Auction preview is now on-line. Over 2,500 quality Sports & Americana lots are being offered in this very significant, upcoming sale, and it should prove to be one of the biggest events the hobby has ever seen! Catalogs will be shipped this week, and bidding begins Monday, November 20th.
Please Note - Effective immediately, Mastro Auctions will raise its Buyer's Premium from 17.5% to 20%.
This will ensure that we do not have to compromise in any way, with respect to conducting our auctions in the industry's most thorough, professional and efficient manner. As a Company, we have always adhered to the principle that our customers demand the very best, and that they rely upon us to deliver at that highest level. We constantly apply this top-tier approach to every aspect of our business, from our custom on-line bidding system to our quality event catalogs, and in the most painstaking authentication and cataloging process in the business. This all costs money -- and the expenses associated with "going the extra mile" are always rising -- but it also produces extraordinary results. We didn�t want to bury this type of information in the small print of the catalog. Instead, it's best to communicate the new terms to everyone before the bidding starts ... on what we expect to be one of our largest offerings ever!
Sincerely,
Doug Allen
President
Mastro Auctions
A 2.5% jump is a pretty expensive way to "go the extra mile". Just what is the "extra mile" anyway???? You win the bid, pay for the product and receive the product. 17.5% pays for that " extra mile" and then some. 20% is B S . chaz
All and all, most careful bidders will take the 20% into consideration when determining their bottom line.
Unfortunately, it would be really hard to know if the 20% affects the final hammer when compared to similar items since no two items are truly alike.
My intuition tells me that Mastro will make out better on this than the consignor.
Does Mastro charge the consignor 10%?
mike
<< <i>What is Mastro's compared to other auction houses ?? >>
Some are a little higher and others are lower. It really doesn't matter to me because when Matronet uses a phrase like " our customers demand the very best" it's a bull sh*t phrase to get more money out of you. I am one of their "customers" and increases like this make me look at other auction houses. chaz
don't assume must b/c you can afford to drop mad $$$$ on anything you don't care about paying premiums in order to get it. many wealthy people are gnarly penny pinchers and misers that will squeeze the blood out of a turnip in a new york minute..
Julen
RIP GURU
<< <i>mastro is banking on their over=priced reputation ...
don't assume must b/c you can afford to drop mad $$$$ on anything you don't care about paying premiums in order to get it. many wealthy people are gnarly penny pinchers and misers that will squeeze the blood out of a turnip in a new york minute..
Julen >>
True ... True.... I know a few. chaz
15% Consignment Fee
That means if your item sells for a grand, you owe Mastro 150$ - the buyer pays $1200 - which means Mastro picks up 350$.
Since they're handling the items - shipping etc. - and advertising costs them serious coin - I don't think that's an unfair return for their time and investment of resources.
But, the increased BP will affect, IMO, the consignor's bottom line profit. Maybe?
Who, right now, is the best to consign high grade cards? Just curious.
mike
I think they are just testing the pain threshhold. Based on posts here and on other boards they crossed way over it.
Always looking for Topps Salesman Samples, pre '51 unopened packs, E90-2, E91a, N690 Kalamazoo Bats, and T204 Square Frame Ramly's
<< <i>mastro is banking on their over=priced reputation ...
don't assume must b/c you can afford to drop mad $$$$ on anything you don't care about paying premiums in order to get it. many wealthy people are gnarly penny pinchers and misers that will squeeze the blood out of a turnip in a new york minute..
Julen >>
Can't argue with that Julen.
Let me add - what makes it harder to deal with these kind of people? Even tho they CAN afford to pay for something, doesn't mean they are MORE willing to pay for it.
They can be just as big a pain in the ass to deal with when presented with an estimate as people with less resources - sometimes WORSE!
mike
<< <i>I just looked at their web.
15% Consignment Fee
That means if your item sells for a grand, you owe Mastro 150$ - the buyer pays $1200 - which means Mastro picks up 350$.
Since they're handling the items - shipping etc. - and advertising costs them serious coin - I don't think that's an unfair return for their time and investment of resources.
But, the increased BP will affect, IMO, the consignor's bottom line profit. Maybe?
Who, right now, is the best to consign high grade cards? Just curious.
mike >>
I think taking 3.5 million dollars on a 10 million dollar auction MORE than covers handling, preperation, descriptions, pictures and mailing for a catalog. This is just outright greed and trying to flex their hobby muscle....
sorry... preparation....
hehe
Julen
RIP GURU
<< <i> just looked at their web.
15% Consignment Fee
That means if your item sells for a grand, you owe Mastro 150$ - the buyer pays $1200 - which means Mastro picks up 350$.
Since they're handling the items - shipping etc. - and advertising costs them serious coin - I don't think that's an unfair return for their time and investment of resources.
But, the increased BP will affect, IMO, the consignor's bottom line profit. Maybe?
>>
Mike , don't forget they are overcharging for shipping so that is a profit center as well .
35% to take a picture and put the card in a catalog is pretty steep imo. why bother selling with them . there was another thread somewhere , the same 1200 item will cost you 6% on ebay. how can anyone justify selling anything that is not completely obscure with them and give them a 35% rake vs. 6% ebay. this will kill their collectors auction. let's see , consign a 500 card and get 350 or sell it on ebay for 470.
they do get crazy prices on obscure stuff but the other items that sell regularly generally do not go over the market price.
there is psychology on these auctions. some people won't figure in the juice. also mastro charges $75 to have the right to bid and their shipping is eye popping too.
But, don't underestimate what it costs to run a business...
Trust me - the miscellaneous expenses can eat you alive.
But, I do see your point...
Especially with overcharging for shipping?
However, they must be doing something right - people keep buying?
mike
<< <i>I just looked at their web.
15% Consignment Fee
That means if your item sells for a grand, you owe Mastro 150$ - the buyer pays $1200 - which means Mastro picks up 350$.
Since they're handling the items - shipping etc. - and advertising costs them serious coin - I don't think that's an unfair return for their time and investment of resources.
But, the increased BP will affect, IMO, the consignor's bottom line profit. Maybe?
Who, right now, is the best to consign high grade cards? Just curious.
mike >>
Mike - I don't think you are correct on this. If I buy a set for 30K , the buyers premium on top of that is 20% which is 6K plus the consignment fee of 15% (using your figure) and that is another $4500 from the seller. So , the way I figure it , it works out to $10,500 in Mastro's pocket for a $30 K set. That's as bad as a g*ddamn lawyers fee. PLMK if I am wrong on this. chaz
The competition for consignments is what is hiking the buyers fees- as consignors pay less buyers pay more.
Always looking for Topps Salesman Samples, pre '51 unopened packs, E90-2, E91a, N690 Kalamazoo Bats, and T204 Square Frame Ramly's
wanna open auction house anytime soon anybody?
Julen
RIP GURU
<< <i>Most don't pay the full consignors fee- the people I've spoken with paid from 0% to 5%.
The competition for consignments is what is hiking the buyers fees- as consignors pay less buyers pay more. >>
Thanks. I did not think sellers paid the whole consignors fee. Mastro still makes way too much. chaz
I was looking through their auction earlier...why consign relatively "common" PSA 8's or lower of major HOF'ers, when you could sell them just as easily on ebay for 6% and get your money in a week or two?
<< <i>As these fees goes up, what's to prevent more people from negotiating private sales between each other? Why pay Mastro an extra 20% as a buyer, and why wait weeks or months for all of your money as a seller?
I was looking through their auction earlier...why consign relatively "common" PSA 8's or lower of major HOF'ers, when you could sell them just as easily on ebay for 6% and get your money in a week or two? >>
Because alot of people are LAZY and want to get "rid" of their cards all at once. chaz
Always looking for Topps Salesman Samples, pre '51 unopened packs, E90-2, E91a, N690 Kalamazoo Bats, and T204 Square Frame Ramly's
<< <i>or they want to maximize the price and believe an auction house is the way to do that. >>
Very true and a better answer. chaz
<< <i>I'm not sure what Mastro's overhead is? >>
They are a service company. Biggest expense is probably salaries and then catalog cost. I can manage 200 million, 300 million, 400 million and my fixed overhead will not change. My variable expenses will change gradually, but I don't need to go from 3 employees to 6 employees to manage 200 million more. Just like any company who thinks their run is over, they don't want to admit their demise. The public's perception of ones greatness is their biggest asset. Now that other PSA dealers are entering the auction market, the pressure is on for Mastro's to keep their market share. Not sure if raising their fee is the wrong move to do that.
<< <i>I just looked at their web.
15% Consignment Fee
Who, right now, is the best to consign high grade cards? Just curious.
Mike---send your stuff to me. I will take care of it and won't charge you anything
Bowman Baseball -1948-1955
Fleer Baseball-1923, 1959-2007
Al
Always looking for Topps Salesman Samples, pre '51 unopened packs, E90-2, E91a, N690 Kalamazoo Bats, and T204 Square Frame Ramly's
<< <i>
<< <i>I'm not sure what Mastro's overhead is? >>
They are a service company. Biggest expense is probably salaries and then catalog cost. I can manage 200 million, 300 million, 400 million and my fixed overhead will not change. My variable expenses will change gradually, but I don't need to go from 3 employees to 6 employees to manage 200 million more. Just like any company who thinks their run is over, they don't want to admit their demise. The public's perception of ones greatness is their biggest asset. Now that other PSA dealers are entering the auction market, the pressure is on for Mastro's to keep their market share. Not sure if raising their fee is the wrong move to do that. >>
I don't agree and I think it will work against them in the long run. chaz
<< <i>I just looked at their web.
15% Consignment Fee
Who, right now, is the best to consign high grade cards? Just curious.
Mike---send your stuff to me. I will take care of it and won't charge you anything >>
Thanx Al
Your magnanimity is only exceeded by your wit.
I never agreed with a % fee for the seller. Does it really cost that much more to sell a $1000 vs a $10,000 card? Except maybe for a bigger space in the catalog, I don't see the additional cost. In reality the $10K card is easier to sell because it attracts attention on its own. The $1000 cards tend to get lost in large auctions.
If I were an auction house, I would only charge the sellers a nominal fee so that they are encouraged to use the service. This price hike could be a way for Mastro to eliminate the smaller stuff from the auction and focus only on the big time cards.
Mastro is doing this because they CAN.
And will continue until competition dictates otherwise?
mike
<< <i>One thing is crystal...
Mastro is doing this because they CAN.
And will continue until competition dictates otherwise?
mike >>
Very good point Mike. chaz
No different than Starbucks selling an upscale coffee experience.
I how wonder how far you can stretch that brand and experience.
It'll be interesting to see how the other players, REA, Mile High, etc respond.
How much higher can anyone go past 20%?
Also if you check out some of the sets and singles there is a ton of MOSH stuff in this auction. I was right when i seen that MOSH had changed some of the sets over to MASTRO that they would be in the next auctions !!
Some really nice sets that are going to go very high !! People are going to pay top dollar just to be either #1 or close to #1 in the registry.
I am really going to be looking to see what alot of the basketball is going to go for. I will be bidding on it but doubt i will win any of it.
All of MOSH's stuff probably is being put up for zero percent for the consignor. They know there stuff is going to attract alot of buyers.
Steve
Mastro is the 800 pound gorilla in the auction business and thinks he can do whatever he wants and get away with it. In the past that might be true, but unlike in the past there are many options for buyers and sellers today. This new attempt to make a few extra dollars in the end is going to cost Mastro far more than he gains.
Hopefully, as a result of this maneuver, Mastro loses a lot of customers and potential customers. Hopefully, better auctionhouses will emerge as the new leaders in this business.
1. I am not surprised in the least. When others follwed suit with 17.5%, we all knew it was only a matter of time. before MAstro upped
their charge.
2. They do it becasue they can--how true. For me, it will affect me deciding to buy something-just on the point of it.
3. That's as bad as a g*ddamn lawyers fee. PLMK if I am wrong on this. chaz
Why do the lawyers always have to get dragged into it????????
May I suggest a calculator???
<< <i>I think it's greed as well but 20 percent is alot easier to work out in your head then 17.5 percent.
Also if you check out some of the sets and singles there is a ton of MOSH stuff in this auction. I was right when i seen that MOSH had changed some of the sets over to MASTRO that they would be in the next auctions !!
Some really nice sets that are going to go very high !! People are going to pay top dollar just to be either #1 or close to #1 in the registry.
I am really going to be looking to see what alot of the basketball is going to go for. I will be bidding on it but doubt i will win any of it.
All of MOSH's stuff probably is being put up for zero percent for the consignor. They know there stuff is going to attract alot of buyers.
Steve >>
I'd rather do the 17.5 % in my head anyday over 20%..... chaz