Home› Trading Cards & Memorabilia Forum

Question about auction houses and the fees

handymanhandyman Posts: 5,442 ✭✭✭✭✭
in Trading Cards & Memorabilia Forum
OK. I was shopping around to see if I wanted to auction some of my higher dollar cards to some of the auction houses. But I have a question about the fees.

Ok when an item is up for sale in the auction say its final bid is 1000.00 before the buyers premium. And then add lets just say 20% for the buyers premium. So the buyer has to pay a total of 1200.00.

Now I was looking at Memory Lane Auctions and they have a sellers fee of 15% Do they take the 15% out of the 1200.00
leaving me with 1,020.00? and they make 180.00 of the sale?
OR do they take 15% off the 1000.00 final bid leaving me with 850.00 and they make 350.00?

So do I get 1,020 or 850.00 from my $1200.00 card?
Seems kind of high to pay 30% to sell a card.

Comments

  • gecko109gecko109 Posts: 8,231 ✭
    I believe the seller's fee comes out with the hammer price. So if the card hammers at $1,000.....you get $850 of that, and the auction house gets $1,200 (with the 20% buyer's premium). Way too large of a spread for my liking. You are better off ebaying the cards and taking a 10% whack IMO.
  • bobbyw8469bobbyw8469 Posts: 7,144 ✭✭✭
    The fee comes out of the final hammer price. So, if the card sells for $1,000, and the fee is 15%, then your cut will be $850. They get a HUGE spread....a percentage from your and a percentage from the buyer....so, they make roughly 25-30% off each lot. I have consigned with Memory Lane based upon the HUGE values that they had obtained in the past for certain cards in certain grades. My cards I consigned DID NOT obtain a huge "premium". I did get paid promptly. Would I consign to them again? Probably not (unless the EBay comission creeps up to grossly exceed what they charge)......you will probably do better yourself with a 99 cent auction on Ebay.
  • bxbbxb Posts: 805 ✭✭
    Some auction houses have 0% sellers fee if the material has sufficient value.
    Capecards
  • bobbyw8469bobbyw8469 Posts: 7,144 ✭✭✭


    << <i>Some auction houses have 0% sellers fee if the material has sufficient value >>



    Tis true....if you have a T206 Wagner or a Mantle rookie you can get 0%. Also you can sometimes see specials thru certain auction houses. Last year, Godwin had 0% consignment fee for any card worth over $1,000.
  • MorgothMorgoth Posts: 3,950 ✭✭✭
    Yep they do but you have to have some really good stuff.

    From what I am hearing the auction houses are having a hard time getting good stuff and with the Feds looking into them more and more not surprisingly these miraculous prices they were getting are disappearing.

    I think 2 or 3 big auction houses will fold or turn into much smaller operations. There is still alot of heat IMO from the Mastro fall out.
    Currently completing the following registry sets: Cardinal HOF's, 1961 Pittsburgh Pirates Team, 1972 Pittsburgh Pirates Team, 1980 Pittsburgh Pirates Team, Bill Mazeroski Master & Basic Sets, Roberto Clemente Master & Basic Sets, Willie Stargell Master & Basic Sets and Terry Bradshaw Basic Set
  • nam812nam812 Posts: 10,601 ✭✭✭✭✭


    << <i>.........So do I get 1,020 or 850.00 from my $1200.00 card? Seems kind of high to pay 30% to sell a card. >>



    When did it become a $1,200 card? Are you saying you want the buyer's premium too? I'm not familiar with Sweden's mathematical system, but here in America 15% of $1,000 is $850.

    Hope this helps.
  • handymanhandyman Posts: 5,442 ✭✭✭✭✭
    Sorry to confuse you. But I think its well know that bidders calculate the buyers premium in when bidding. So yes I do say its a 1200 card even though the highest bid was only 1000.00 , when all is said and done the buyer did pay 1200 for the card
    Hope this helps
  • bobbyw8469bobbyw8469 Posts: 7,144 ✭✭✭
    That is fine and good, but the final hammer price is $1,000. You are NOT entitled to the Auction House premium that is tacked on........
  • handymanhandyman Posts: 5,442 ✭✭✭✭✭
    Yes ty thats all I was asking and trying to figure out. But I still say the card is a 1200 card. I was just trying to see if the fee is 30%.


    Hey helpful nickie. Does VCP include the buyers premium or just the hammer price? Just wondering again I guess. Bc im a little unsure how to value cards in major auction houses now.
  • KbKardsKbKards Posts: 1,782 ✭✭✭
    There's absolutely no reason for you to be paying a seller's premium these days for cards of that value. Competition for cards is fierce and virtually every major catalog-internet auction house will charge you 0% seller's fee. The only thing to be negotiating for is getting part of the buyer's premium.
  • RonBurgundyRonBurgundy Posts: 5,491 ✭✭✭
    Just assume you'll get screwed. Then go from there.
    Ron Burgundy

    Buying Vintage, all sports.
    Buying Woody Hayes, Les Horvath, Vic Janowicz, and Jesse Owens autographed items
  • bobbyw8469bobbyw8469 Posts: 7,144 ✭✭✭
    I wanna believe that kb, but the two auction houses I consigned with both charged me 10%. I have used ML in the past, and I currently have a couple of lots in Robert Edward.......they charged me 10% as well.
  • GriffinsGriffins Posts: 6,076 ✭✭✭
    unless you're going with REA, there is no reason to pay a sellers commission. Goodwin is always 0% and others can be as well. Depending on what you have they will give you part of the buyers premium as well.
    Your best bet though is to put the item up for private sale- either on Net 54 or ebay. You control the price, the placement, and get paid a lot quicker and virtually the full amount.

    Always looking for Topps Salesman Samples, pre '51 unopened packs, E90-2, E91a, N690 Kalamazoo Bats, and T204 Square Frame Ramly's

  • MorgothMorgoth Posts: 3,950 ✭✭✭
    Yep thats a big reason (slow pay) why alot of people stopped consigning with some AH's.

    I think right now they would be desperate to get your stuff if its good quality. I would just tell them you had another AH (feel free to name drop) offer 0%.
    Currently completing the following registry sets: Cardinal HOF's, 1961 Pittsburgh Pirates Team, 1972 Pittsburgh Pirates Team, 1980 Pittsburgh Pirates Team, Bill Mazeroski Master & Basic Sets, Roberto Clemente Master & Basic Sets, Willie Stargell Master & Basic Sets and Terry Bradshaw Basic Set
  • bhelserbhelser Posts: 667


    << <i>Just assume you'll get screwed. Then go from there. >>



    image
    ---------------------------------------------
    Authorized wholesale dealer for BCW, if you need any supplies let me know and I will get you a quote
  • TomGshotputTomGshotput Posts: 1,358


    << <i> I'm not familiar with Sweden's mathematical system, but here in America 15% of $1,000 is $850 >>



    I didn't realize America was that bad at math. To every country other than those two 15% OF $1000 is $150. . .
    Tom
  • nam812nam812 Posts: 10,601 ✭✭✭✭✭


    << <i>

    << <i> I'm not familiar with Sweden's mathematical system, but here in America 15% of $1,000 is $850 >>



    I didn't realize America was that bad at math. To every country other than those two 15% OF $1000 is $150. . . >>



    As long as the OP wasn't smart enough to pick up on that.
  • SOMSOM Posts: 1,555 ✭✭✭


    << <i>Just assume you'll get screwed. Then go from there. >>


    That sums it up perfectly.
  • Mickey71Mickey71 Posts: 4,261 ✭✭✭✭
    Lots of false prices in the past. I still have the 62 Cepeda and Maris card for sale at $4500 in a PSA 8. No takers yet.image
  • hammeredhammered Posts: 2,671 ✭✭✭


    << <i>Just assume you'll get screwed. Then go from there. >>




    I disagree. While the seller fees (if they even have any) could be higher than ebay/paypal fees, prices realized on most items are often significantly higher than you'd get on ebay or buy/sell boards (even without the former shilling that used to be commonplace). These auction houses reach many big-time buyers that don't typically have the time or desire to troll ebay for deals.

    Those '75 mini cases and lots from the Conlon collection would not have garnered near the $ on ebay that REA got for them last year. I believe those boxes and cases would've earned 40% less on ebay.

    Slow pay is a disadvantage, but only if you're in a hurry to get your money. To offset that, some houses like REA will give you an interest-free advance on the expected sale.
  • smtjoysmtjoy Posts: 617
    Auction houses have their place. If I was selling high dollar items I would not use ebay. I do not want to have to worry about a 3k charge back 80 days down the road that I can do nothing about. While I dont trust every AH many of them are great. I have won items from most of them and I am looking to consign soon. I would use REA for my top items even with the 10% fee as they bring top dollar.

    I am planning on sending a vintage lot to the next B & L auction and they are offering a 0% sellers fee and they only have a 12.5% buyers fee which ends up cheaper than ebay. They are a nice place to sell mid range $100+ vintage 1950's and older material. Not the place to sell graded 60-70's cards or other newer stuff.

    http://www.b-lauctions.com/terms.html


    I am also talking to two other houses on two registry cards and will go with one assuming I can also get 0% sellers fees.
  • OckhamsRazorOckhamsRazor Posts: 207 ✭✭
    Speaking of ML, I received my auction catalog in the mail yesterday (4/21) 4 days after the auction ended. They may want to have a discussion with their printer on when their catalogs were mailed.
    Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all "right-thinking" people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.

    This is known as “bad luck.”
  • SDSportsFanSDSportsFan Posts: 5,176 ✭✭✭✭✭


    << <i>Speaking of ML, I received my auction catalog in the mail yesterday (4/21) 4 days after the auction ended. They may want to have a discussion with their printer on when their catalogs were mailed. >>




    Or the post office. I got my ML catalog well over a week ago. Could you tell when yours was mailed?


    Steve
  • cardbendercardbender Posts: 1,831 ✭✭
    I've consigned single graded cards worth $500 and about $1000 each to a few auction houses and received a zero percent
    consignment fee. Not sure if this is the norm or because I've done some business with them over the years.

    As far as some suggested of trying to obtain some of the 17.5% buyers fee money too, good luck with that.

    I would think the only way that would happen is with lots totaling $50K or more. Maybe someone else can chime in to prove me wrong.
  • grote15grote15 Posts: 29,839 ✭✭✭✭✭
    For items of unique or specific collector's interest, I have found that the prices realized in major auction houses are significantly stronger than on ebay, where the market is geared more for lower-end items, so I'd agree with hammered's summation above. Also, on ebay there's always the risk that you get a dishonest buyer who files a chargeback through paypal and you are out the product and your money.


    Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
  • csmtampacsmtampa Posts: 1,828 ✭
    I've dealt with a few auction companies and most will charge 0% if your item is a lock at $1,000+.

    They'll get paid on the other side, with the buyer fee.
Sign In or Register to comment.