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

seateddime

If the auction houses raises fees do you look at you bid after fees or the total amount the lot will cost?

Sonorandesertrat

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).

robkool

I would always factor in the "out the door price", before placing a bid including the raised fees...

Unknown

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BAJJERFAN

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".

RYK

What counts is the final price I pay for the coin. I don't care how I got there.

Justlooking

Most hobbyists, don't, I think. But you'd be a fool not to.

golfer72

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.

Lakesammman

No, but I think about it when consigning - either I'll get a lower hammer or I can demand a larger %.

jdimmick

Final price paid is what counts.

BillJones

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.

OnlyGoldIsMoney

Yes - raise the fees and I bid less.

123cents

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

PerryHall

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



Yup---no brainer.

roadrunner

<< <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.

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.

seateddime

Thnaks for all the input, it seem most all agree the final number is the one, how you get there does not matter.

mozin

<< <i>

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



Yup---no brainer. >>