Dumb ? Regarding Auction Houses

chelseafc11

So i was contemplating selling on of my sets through an auction house that shall remain nameless.

My question is this: Does the consignor see any of the buyer's premium? For example the auction house has a 17.5% Buyer's Premium and and 10% consignor fee

If your auction sells for $100 the price realized should be $117.50. Does the consignor get the price including BP less 10%? Does it depend on the auction house?

Thanks in advance, Hal

Dboneesq

Hal ... if an item sells for $100.00 and has a consignor's fee of 10% and a buyer's premium of 17.5% ...

The buyer pays $117.50. ($100.00 + 17.5%)

The consignor gets $90.00 ($100.00 - 10%)

Depending how valuable your item is, you can negotiate the Consignor's fee with the Auction House. I have seen the Consignor's Fee as low as ZERO AND the consignor was given a part of the buyer's premium.

Alfonz24

sounds like government math and logic

CollectorAtWork

Typically, the consignor does not receive the BP or the seller's commission. So if the auction has 17.5% BP and 10% consignor's fee, the seller will receive the total selling price - 27.5%. There are some auction houses (such as Goodwin) that have 0% consignor's fee. However, these places are often stricter on the lots they accept. For example, Goodwin wouldn't take my GAI graded cards. The more your total value of the lots you consign, the greater the chance you have to negotiate w/ the auction house. For Heritage, I was able to get a 5% consignor's fee because my lots totaled over $5K in expected value, and one of my items had sold for over 1K at a previous Heritage auction. Some places will give you back part of the BP, but you need to have a lot of stuff. I think for Legacy Rarities (Greg Bussenau sp?), if you had 30K or more in lot value, you'd get 5 or 10% of the BP back in addition to 0% seller's commission.