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When auction houses raises the fees do you consider them when bidding?

seateddimeseateddime Posts: 6,180 ✭✭✭
If the auction houses raises fees do you look at you bid after fees or the total amount the lot will cost?

I seldom check PM's but do check emails often jason@seated.org

Buying top quality Seated Dimes in Gem BU and Proof.

Buying great coins - monster eye appeal only.

Comments

  • SonorandesertratSonorandesertrat Posts: 5,695 ✭✭✭✭✭
    No intelligent bidder would omit factoring in the 'buyer's premium' into his bid. In truth, the 'buyer's premium' comes out of the consignor's hide (unless a bidding war erupts, in which case the price realized might be so high that the consignor doesn't care).
    Member: EAC, NBS, C4, CWTS, ANA

    RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'

    CJ: 'No one!' [Ain't no angels in the coin biz]
  • robkoolrobkool Posts: 5,934 ✭✭✭✭✭
    I would always factor in the "out the door price", before placing a bid including the raised fees...
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  • BAJJERFANBAJJERFAN Posts: 31,234 ✭✭✭✭✭
    Always. I see a lot of TeleTrade coins get bid up over sheet before tacking on the juice. Yer gonna lose yerass if you try sellin those to some dealer who goes by the sheet. Only problem with TT is that you don't know if you are bidding against a reserve, another real person or the 'incremental bidder".
    theknowitalltroll;
  • RYKRYK Posts: 35,799 ✭✭✭✭✭
    What counts is the final price I pay for the coin. I don't care how I got there.
  • Most hobbyists, don't, I think. But you'd be a fool not to.
    Let's try not to get upset.
  • Absolutely. I was looking at $20 Gold coins on TT recently and when you add the 8% buyers fee its like another $150 on a $1800 coin which makes it a terrible buy. I will no longer look at gold on TT. Waste of time.
  • LakesammmanLakesammman Posts: 17,447 ✭✭✭✭✭
    No, but I think about it when consigning - either I'll get a lower hammer or I can demand a larger %. image
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose, Cardinal.
  • jdimmickjdimmick Posts: 9,768 ✭✭✭✭✭
    Final price paid is what counts.
  • BillJonesBillJones Posts: 34,741 ✭✭✭✭✭
    I figure out what I want pay for a lot and then divide that number by 1 + the buyers' fee percentage. I can't figure out these guys who treat a 15% buyers' fee as a "throw away." I wish I'd had more of those type customers when I was a dealer. image
    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 ... ?
  • 123cents123cents Posts: 7,178 ✭✭✭


    << <i>Yes - raise the fees and I bid less. >>




    image
    image
  • PerryHallPerryHall Posts: 46,788 ✭✭✭✭✭


    << <i>Yes - raise the fees and I bid less. >>



    Yup---no brainer.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭


    << <i>Absolutely. I was looking at $20 Gold coins on TT recently and when you add the 8% buyers fee its like another $150 on a $1800 coin which makes it a terrible buy. I will no longer look at gold on TT. Waste of time. >>



    Exactly. And the people who would consign bullionesque $20's under those fees are really nuts. But I suspect that most of those are probably house owned and therefore there is no
    fee involved. The house hopes that bidders forget about the 8%. And in the heat of battle, some do.

    Believe it or not, the car auction/car hobbyists believe that the buyer's really pay the buyer's fee (ie not the consignor) simply because the buyer's fee shows up on the buyer's invoice
    and not the consignor's invoice. And they think it is totally unscrupulous for bidders to even consider backing out their bids by 15%. I even had a professional car dealer who restores cars for a living tell me that he routinely buys at the auto auctions and never pays the buyer's fee. Then he shows me a copy of an invoice he paid and right there it said it had a +5% fee tacked on...though not called a buyer's premium. He didn't consider that a buyer's fee but an entrance fee of sort and just a cost of doing business. And he did not ever back that off his winning bid...thought it was too little to worry about. image

    I guess if buyer's don't factor out a BP then they do indeed pay it. Must be good to be a classic car consignor.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • seateddimeseateddime Posts: 6,180 ✭✭✭
    Thnaks for all the input, it seem most all agree the final number is the one, how you get there does not matter.
    I seldom check PM's but do check emails often jason@seated.org

    Buying top quality Seated Dimes in Gem BU and Proof.

    Buying great coins - monster eye appeal only.
  • mozinmozin Posts: 8,755 ✭✭✭


    << <i>

    << <i>Yes - raise the fees and I bid less. >>



    Yup---no brainer. >>

    image
    I collect Capped Bust series by variety in PCGS AU/MS grades.

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