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

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.
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
0
Comments
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
<< <i>Yes - raise the fees and I bid less. >>
<< <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
<< <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.
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
<< <i>
<< <i>Yes - raise the fees and I bid less. >>
Yup---no brainer. >>