I say it doesn't matter. It just changes the math, it doesn't change what I am willing too spend. It is just 2.5% coming off the selling price, that the seller won't get.
<< <i>I say it doesn't matter. It just changes the math, it doesn't change what I am willing too spend. It is just 2.5% coming off the selling price, that the seller won't get. >>
To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
<< <i>I say it doesn't matter. It just changes the math, it doesn't change what I am willing too spend. It is just 2.5% coming off the selling price, that the seller won't get. >>
It sure changes things for the consignor. I'd guess 25% within 5 years unless someone gets a viable competing business model going. The auction houses are acting like airlines and other service industries - copycatting each others actions.
Even though other types of auctions routinely have 20% buyer's fees, I can't see it in the near future for coins. Although, if you had asked me a few years ago if I could have seen 17.5%, I probably would have said no as well.
<< <i>It surpasseth all understanding that the actual buyer's fee is considered at all except as part of the total price of the item purchased. >>
If you sell on eBay, it's no surprise what buyers don't consider. Just this week, I was offered an amount that is less than the cost of shipping for the item in question. When I declined the offer with a note that it wasn't even enough to pay for shipping, I received this response: "How can that be? Your listing says shipping is free."
<< <i>When will buyers fees at auction reach 20% >>
when consignors are willing to risk 20% less on their share at hammer.
actually if it costs a consignor 20% to sell and the buyer fee is 20% then the consignor could take a 40% hit if buyers only bid 80% to compensate for the BP. no? .
<< <i>When will buyers fees at auction reach 20% >>
when consignors are willing to risk 20% less on their share at hammer.
actually if it costs a consignor 20% to sell and the buyer fee is 20% then the consignor could take a 40% hit if buyers only bid 80% to compensate for the BP. no? . >>
YES This hobby is fast becoming a losing proposition for the collector as the auction houses take more and more. Let them not forget that there are LOTS of other hobbies in this world!
It may occur sooner than we would want, but one thing is almost certain--
Many more transactions will take place by private treaty, especially for expensive coins. The auction houses will not see hardly any bullion related coins, including generic saints, when those type can be traded between collectors or on dealer websites/ebay, etc.
One of many examples: a MS 66 CBH has a value to the owner of 20,000. An auction result requires a buyer to bid no more than 16,666 to keep his realized cost at 20K. Then the owner( with part of the buyer's premium) may realize 17,500 to 18,000.
However, if the MS66 bust half is special, it may attract competiton up to 25,000 hammer. Then the owner starts to gain by the auction process. He also gains in a direct sale to another collector of the same series.
So, special coins will still do well, but common ones will get the owner somewhat less than hoped for.
I consign coins to auction frequently, but have not done so since the BP went to 17 1/2%. All my sales have been direct. And any buys have been for less money than I would have paid before the increase.
<< <i>It may occur sooner than we would want, but one thing is almost certain--
Many more transactions will take place by private treaty, especially for expensive coins. The auction houses will not see hardly any bullion related coins, including generic saints, when those type can be traded between collectors or on dealer websites/ebay, etc.
One of many examples: a MS 66 CBH has a value to the owner of 20,000. An auction result requires a buyer to bid no more than 16,666 to keep his realized cost at 20K. Then the owner( with part of the buyer's premium) may realize 17,500 to 18,000.
However, if the MS66 bust half is special, it may attract competiton up to 25,000 hammer. Then the owner starts to gain by the auction process. He also gains in a direct sale to another collector of the same series.
So, special coins will still do well, but common ones will get the owner somewhat less than hoped for.
I consign coins to auction frequently, but have not done so since the BP went to 17 1/2%. All my sales have been direct. And any buys have been for less money than I would have paid before the increase. >>
on the opposite side of the coin of my post is this .
To be honest, the buyer fee affects the seller much more than the buyer and as long as coins are traded at thin(ish)margins by dealers the auction houses will be forced to compete and keep them low. The other markets where the auction houses take a larger % often dont have the dealer network competing for the materiel to sell.
<< <i>I say it doesn't matter. It just changes the math, it doesn't change what I am willing too spend. It is just 2.5% coming off the selling price, that the seller won't get. >>
Exactly. At 20% a lot of sellers will look more seriously at walking the bourse floor with their coins. All they have to do is to find the top couple of players in that particular area. An increase to 20% has no effect on buyers unless they are too lazy to divide market value by 1.20. Sellers should get concerned though. But I think well- connected sellers will easily negotiate these BP increases away. It's the not-so-connected sellers that will probably eat most of these buyer premium increases. The auction houses are smart. How much less business would they do if they had both a seller's commission (0-10%) added to a seller's fee (17.5-20%)?
<< <i>I say it doesn't matter. It just changes the math, it doesn't change what I am willing too spend. It is just 2.5% coming off the selling price, that the seller won't get. >>
Exactly. It's not a buyer's fee at all. It's a seller's fee.
“When the people find that they can vote themselves money, that will herald the end of the republic.” — Benjamin Franklin
My icon IS my coin. It is a gem 1949 FBL Franklin.
<< <i>Let them not forget that there are LOTS of other hobbies in this world! >>
In how many of those other hobbies are participants constantly worried about how much money they're making (or not)? >>
So let's look a the pleasure we derive from our coins. Mine goes something like this. I take them out of the safe occasionally, and look them over. Take a few pics so I can look at them without taking them out of the safe. Post a few on the message boards. For this, I don't want to give up 20 or 30 percent of their value to move on to my latest desire in numismatics.
Now let's look at some other hobbies. Burning the tires off of a 500 hp hot rod, fly fishing in the great outdoors in a cool mountain stream, a round of golf at a famous course with your buds. All of these exact a greater amount of pleasure and therefore I am willing to spend/lose money on the endeavor.
Don't get me wrong, I like to do those things I mentioned above with my coins. It's just that I'm associating a cost versus pleasure when I spend on coins. From the turnover on these boards, I suspect a lot of people have moved on to other hobbies because of the above. Just my humble opinion. Mel
<< <i>So let's look a the pleasure we derive from our coins. Mine goes something like this. I take them out of the safe occasionally, and look them over. Take a few pics so I can look at them without taking them out of the safe. Post a few on the message boards. For this, I don't want to give up 20 or 30 percent of their value to move on to my latest desire in numismatics. >>
So don't give it up. Sell your coins directly to other collectors and bypass the auction houses entirely.
<< <i>Now let's look at some other hobbies. Burning the tires off of a 500 hp hot rod, fly fishing in the great outdoors in a cool mountain stream, a round of golf at a famous course with your buds. All of these exact a greater amount of pleasure and therefore I am willing to spend/lose money on the endeavor. >>
Looks like you've figured out what hobbies are worth spending money on. That's a good thing.
<< <i>Don't get me wrong, I like to do those things I mentioned above with my coins. It's just that I'm associating a cost versus pleasure when I spend on coins. From the turnover on these boards, I suspect a lot of people have moved on to other hobbies because of the above. >>
IMO, turnover on a message board doesn't relate directly to people leaving the hobby.
So many roads to paying $1000.00 on an auction lot
Maybe too complicated for the late Paul Ryan, but not the late John Pittman.
In the poll I voted "nevah" because I believe they will jump directly to 25%
800 +25% = 1000.00 !!!!!!!! >>
Don't know if I'm drunk or not but CJ, this post, I understand. Here's the problem that I don't think the auction houses get. Bang the buyer harder, lower prices for seller, auction house makes more. Lower seller prices begets less consignors, they will go elsewhere. And when you run out of consignors, bye bye auction house.
As soon as the auction houses figure out that an increase in buyers fee's can offset reduced sellers fee's
OR
As soon as the auction houses figure they can get away with it without losing bidders.
As a seller, I might be concerned since higher buyers fee's usually mean lower bid amounts. Sure, I wouldn;t get charged certain seller's fee's but then I probably won;t be able to consign lower value coins. (speaking specifically of Teletrade) Heritage, it might not matter since they have a minimum $5,000 coin(s) value before they'll ever accept the consignment. Teletrade, on the other hand, didn't have a minimum. Just the 5% seller buy back fee's.
Oh Well......
I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.
<< <i>When will buyers fees at auction reach 20% >>
when consignors are willing to risk 20% less on their share at hammer.
actually if it costs a consignor 20% to sell and the buyer fee is 20% then the consignor could take a 40% hit if buyers only bid 80% to compensate for the BP. no? . >>
YES This hobby is fast becoming a losing proposition for the collector as the auction houses take more and more. Let them not forget that there are LOTS of other hobbies in this world! >>
Hmmmm.
Heritage has most of the "other" hobbies covered already.
I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.
I've paid 19.5% in wine and sports themed auctions. I have also received between 103% and 107% as a seller. MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>I've paid 19.5% in wine and sports themed auctions. I have also received between 103% and 107% as a seller. MJ >>
Though for wine and sports - there is more work that goes into them. Storing wine is a lot more complicated than storing coins, and with coins, there is a higher average value.
<< <i>I've paid 19.5% in wine and sports themed auctions. I have also received between 103% and 107% as a seller. MJ >>
Though for wine and sports - there is more work that goes into them. Storing wine is a lot more complicated than storing coins, and with coins, there is a higher average value.
- Ian >>
Correct Ian.
I'd never store my wine next to my water heater!
Or on my window sill or on the top shelf of my closet.
I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.
ive attended a few auctions where the buyers fee was 20% or more. it definately supresses the bidding. the question should be how long before ebay starts charging buyers fees. it may be sooner than you think.
regardless of how many posts I have, I don't consider myself an "expert" at anything
Could it be that they "over inflate" the value of a coin?
How often is it read where a coin which sells for $1,000,000 hammer price is actually stated to have sold for $1,175,000 giving the impression that the piece is worth $1,175,000?
Granted, thats what the buyer paid but that final price would be reduced had the buyer fee's been lower. It seems to me, that the auction houses should charge a percentage to the seller instead of charging the seller AND the buyer.
I'm glad there aren't "buyers fee's" at the Supermarket.
I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.
One of the major auction houses charges 19.5% on some auctions.
I used to be somebody, now I'm just a coin collector. Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
The question brings value to center stage- at what point is better to sell on your own? Whether it is through ebay, or walking the floor at a major show or other alternatives that seem reasonable.
Experience the World through Numismatics...it's more than you can imagine.
Don't see this happening anytime soon. They would be shooting themselves in the foot. The more they raise these buyers fees the more they make ebay, Teletrade, and GC look better.
<< <i>ive attended a few auctions where the buyers fee was 20% or more. it definately supresses the bidding. the question should be how long before ebay starts charging buyers fees. it may be sooner than you think. >>
Please don't give them any ideas! I'm sure they have already tossed the idea around and opted not to try it...................yet.
<< <i>The question brings value to center stage- at what point is better to sell on your own? Whether it is through ebay, or walking the floor at a major show or other alternatives that seem reasonable. >>
Whenever I decide I need to free up some funds, I sell directly to other collectors whom I know. I stopped using auction houses many years ago.
<< <i>I've paid 19.5% in wine and sports themed auctions. I have also received between 103% and 107% as a seller. MJ >>
20 percent is no big deal IF the auction house is your best bet for the coin you are wanting to sell. I think auction houses are going to have to rethink their business model. If they have to charge 20 percent to make a decent return they need to trim some fat off their business model. I myself have recieved 103 and 105% before. it kind of ticks me off a bit.
Some people are lazy and they do not mind paying the 20 percent, i myself try to sell my product where i recieve the most money with the least amount of fees incured.
I paid 19.5 percent on the Heritage arms and armour auction at the first of december and made out like a bandit, i would not be thrilled if i was a seller on the arms auction. I bought till i was out of money and then some. I wish the coin auctions were the same.
I look at auction houses like credit cards, i use the ones that charge 7 percent or less the most, those that want 20 percent or more for when the world ends and i am desperate.
Mark NGC registry V-Nickel proof #6!!!! working on proof shield nickels # 8 with a bullet!!!!
mrearlygold
Posts: 17,858 ✭✭✭
Comments
<< <i>I say it doesn't matter. It just changes the math, it doesn't change what I am willing too spend. It is just 2.5% coming off the selling price, that the seller won't get. >>
<< <i>
<< <i>I say it doesn't matter. It just changes the math, it doesn't change what I am willing too spend. It is just 2.5% coming off the selling price, that the seller won't get. >>
+1
- Ian
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
It surpasseth all understanding that the actual buyer's fee is considered at all except as part of the total price of the item purchased.
1000 +0% = 1000.00
900 +10% = 990.00
875 +15% = 1006.25
850 +15% = 977.50
850 +17.5% = 998.75
850 +20% = 1020.00
825 +20% = 990.00
So many roads to paying $1000.00 on an auction lot
Maybe too complicated for the late Paul Ryan, but not the late John Pittman.
In the poll I voted "nevah" because I believe they will jump directly to 25%
800 +25% = 1000.00 !!!!!!!!
<< <i>Just make it 100% and get it over with! Lol >>
Why not? It makes the math easier for buyers.
I'd be all for it.
<< <i>It surpasseth all understanding that the actual buyer's fee is considered at all except as part of the total price of the item purchased. >>
If you sell on eBay, it's no surprise what buyers don't consider. Just this week, I was offered an amount that is less than the cost of shipping for the item in question. When I declined the offer with a note that it wasn't even enough to pay for shipping, I received this response: "How can that be? Your listing says shipping is free."
<< <i>When will buyers fees at auction reach 20% >>
when consignors are willing to risk 20% less on their share at hammer.
actually if it costs a consignor 20% to sell and the buyer fee is 20% then the consignor could take a 40% hit if buyers only bid 80% to compensate for the BP. no?
.
<< <i>.
<< <i>When will buyers fees at auction reach 20% >>
when consignors are willing to risk 20% less on their share at hammer.
actually if it costs a consignor 20% to sell and the buyer fee is 20% then the consignor could take a 40% hit if buyers only bid 80% to compensate for the BP. no?
. >>
YES This hobby is fast becoming a losing proposition for the collector as the auction houses take more and more. Let them not forget that there are LOTS of other hobbies in this world!
Experience the World through Numismatics...it's more than you can imagine.
<< <i>Let them not forget that there are LOTS of other hobbies in this world!
In how many of those other hobbies are participants constantly worried about how much money they're making (or not)?
Many more transactions will take place by private treaty, especially for expensive coins. The auction houses will not see hardly any
bullion related coins, including generic saints, when those type can be traded between collectors or on dealer websites/ebay, etc.
One of many examples: a MS 66 CBH has a value to the owner of 20,000. An auction result requires a
buyer to bid no more than 16,666 to keep his realized cost at 20K. Then the owner( with part of the buyer's premium) may realize
17,500 to 18,000.
However, if the MS66 bust half is special, it may attract competiton up to 25,000 hammer. Then the owner starts to gain
by the auction process. He also gains in a direct sale to another collector of the same series.
So, special coins will still do well, but common ones will get the owner somewhat less than hoped for.
I consign coins to auction frequently, but have not done so since the BP went to 17 1/2%. All my sales have been direct. And any buys
have been for less money than I would have paid before the increase.
<< <i>It may occur sooner than we would want, but one thing is almost certain--
Many more transactions will take place by private treaty, especially for expensive coins. The auction houses will not see hardly any
bullion related coins, including generic saints, when those type can be traded between collectors or on dealer websites/ebay, etc.
One of many examples: a MS 66 CBH has a value to the owner of 20,000. An auction result requires a
buyer to bid no more than 16,666 to keep his realized cost at 20K. Then the owner( with part of the buyer's premium) may realize
17,500 to 18,000.
However, if the MS66 bust half is special, it may attract competiton up to 25,000 hammer. Then the owner starts to gain
by the auction process. He also gains in a direct sale to another collector of the same series.
So, special coins will still do well, but common ones will get the owner somewhat less than hoped for.
I consign coins to auction frequently, but have not done so since the BP went to 17 1/2%. All my sales have been direct. And any buys
have been for less money than I would have paid before the increase. >>
on the opposite side of the coin of my post is this
.
<< <i>I say it doesn't matter. It just changes the math, it doesn't change what I am willing too spend. It is just 2.5% coming off the selling price, that the seller won't get. >>
Exactly. At 20% a lot of sellers will look more seriously at walking the bourse floor with their coins. All they have to do is to find the top couple of players in that particular
area. An increase to 20% has no effect on buyers unless they are too lazy to divide market value by 1.20. Sellers should get concerned though. But I think well- connected
sellers will easily negotiate these BP increases away. It's the not-so-connected sellers that will probably eat most of these buyer premium increases. The auction houses are
smart. How much less business would they do if they had both a seller's commission (0-10%) added to a seller's fee (17.5-20%)?
<< <i>I say it doesn't matter. It just changes the math, it doesn't change what I am willing too spend. It is just 2.5% coming off the selling price, that the seller won't get. >>
Exactly. It's not a buyer's fee at all. It's a seller's fee.
My icon IS my coin. It is a gem 1949 FBL Franklin.
<< <i>
<< <i>Let them not forget that there are LOTS of other hobbies in this world!
In how many of those other hobbies are participants constantly worried about how much money they're making (or not)? >>
So let's look a the pleasure we derive from our coins. Mine goes something like this. I take them out of the safe occasionally, and look them over. Take a few pics so I can look at them without taking them out of the safe. Post a few on the message boards. For this, I don't want to give up 20 or 30 percent of their value to move on to my latest desire in numismatics.
Now let's look at some other hobbies. Burning the tires off of a 500 hp hot rod, fly fishing in the great outdoors in a cool mountain stream, a round of golf at a famous course with your buds. All of these exact a greater
amount of pleasure and therefore I am willing to spend/lose money on the endeavor.
Don't get me wrong, I like to do those things I mentioned above with my coins. It's just that I'm associating a cost versus pleasure when I spend on coins. From the turnover on these boards, I suspect a lot of
people have moved on to other hobbies because of the above. Just my humble opinion. Mel
<< <i>So let's look a the pleasure we derive from our coins. Mine goes something like this. I take them out of the safe occasionally, and look them over. Take a few pics so I can look at them without taking them out of the safe. Post a few on the message boards. For this, I don't want to give up 20 or 30 percent of their value to move on to my latest desire in numismatics. >>
So don't give it up. Sell your coins directly to other collectors and bypass the auction houses entirely.
<< <i>Now let's look at some other hobbies. Burning the tires off of a 500 hp hot rod, fly fishing in the great outdoors in a cool mountain stream, a round of golf at a famous course with your buds. All of these exact a greater amount of pleasure and therefore I am willing to spend/lose money on the endeavor. >>
Looks like you've figured out what hobbies are worth spending money on. That's a good thing.
<< <i>Don't get me wrong, I like to do those things I mentioned above with my coins. It's just that I'm associating a cost versus pleasure when I spend on coins. From the turnover on these boards, I suspect a lot of people have moved on to other hobbies because of the above. >>
IMO, turnover on a message board doesn't relate directly to people leaving the hobby.
<< <i>Brilliant!
It surpasseth all understanding that the actual buyer's fee is considered at all except as part of the total price of the item purchased.
1000 +0% = 1000.00
900 +10% = 990.00
875 +15% = 1006.25
850 +15% = 977.50
850 +17.5% = 998.75
850 +20% = 1020.00
825 +20% = 990.00
So many roads to paying $1000.00 on an auction lot
Maybe too complicated for the late Paul Ryan, but not the late John Pittman.
In the poll I voted "nevah" because I believe they will jump directly to 25%
800 +25% = 1000.00 !!!!!!!! >>
Don't know if I'm drunk or not but CJ, this post, I understand. Here's the problem that I don't think the auction houses get. Bang the buyer harder, lower prices for seller, auction house makes more. Lower seller prices begets less consignors, they will go elsewhere. And when you run out of consignors, bye bye auction house.
OR
As soon as the auction houses figure they can get away with it without losing bidders.
As a seller, I might be concerned since higher buyers fee's usually mean lower bid amounts. Sure, I wouldn;t get charged certain seller's fee's but then I probably won;t be able to consign lower value coins. (speaking specifically of Teletrade) Heritage, it might not matter since they have a minimum $5,000 coin(s) value before they'll ever accept the consignment. Teletrade, on the other hand, didn't have a minimum. Just the 5% seller buy back fee's.
Oh Well......
The name is LEE!
<< <i>
<< <i>.
<< <i>When will buyers fees at auction reach 20% >>
when consignors are willing to risk 20% less on their share at hammer.
actually if it costs a consignor 20% to sell and the buyer fee is 20% then the consignor could take a 40% hit if buyers only bid 80% to compensate for the BP. no?
. >>
YES This hobby is fast becoming a losing proposition for the collector as the auction houses take more and more. Let them not forget that there are LOTS of other hobbies in this world!
Hmmmm.
Heritage has most of the "other" hobbies covered already.
The name is LEE!
Hoard the keys.
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>I've paid 19.5% in wine and sports themed auctions. I have also received between 103% and 107% as a seller. MJ >>
Though for wine and sports - there is more work that goes into them. Storing wine is a lot more complicated than storing coins, and with coins, there is a higher average value.
- Ian
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
<< <i>These buyer fees are a freak'n ripoff. >>
Why is that?
Experience the World through Numismatics...it's more than you can imagine.
<< <i>
<< <i>I've paid 19.5% in wine and sports themed auctions. I have also received between 103% and 107% as a seller. MJ >>
Though for wine and sports - there is more work that goes into them. Storing wine is a lot more complicated than storing coins, and with coins, there is a higher average value.
- Ian >>
Correct Ian.
I'd never store my wine next to my water heater!
Or on my window sill or on the top shelf of my closet.
The name is LEE!
<< <i>
<< <i>These buyer fees are a freak'n ripoff. >>
Why is that? >>
Could it be that they "over inflate" the value of a coin?
How often is it read where a coin which sells for $1,000,000 hammer price is actually stated to have sold for $1,175,000 giving the impression that the piece is worth $1,175,000?
Granted, thats what the buyer paid but that final price would be reduced had the buyer fee's been lower. It seems to me, that the auction houses should charge a percentage to the seller instead of charging the seller AND the buyer.
I'm glad there aren't "buyers fee's" at the Supermarket.
The name is LEE!
<< <i>
<< <i>These buyer fees are a freak'n ripoff. >>
Why is that? >>
I simply don't understand why it's necessary to charge more than 10%.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
Experience the World through Numismatics...it's more than you can imagine.
<< <i>
<< <i>
<< <i>These buyer fees are a freak'n ripoff. >>
Why is that? >>
I simply don't understand why it's necessary to charge more than 10%. >>
Why 10%? How did you arrive at that figure?
<< <i>ive attended a few auctions where the buyers fee was 20% or more. it definately supresses the bidding. the question should be how long before ebay starts charging buyers fees. it may be sooner than you think. >>
Please don't give them any ideas! I'm sure they have already tossed the idea around and opted not to try it...................yet.
<< <i>The question brings value to center stage- at what point is better to sell on your own? Whether it is through ebay, or walking the floor at a major show or other alternatives that seem reasonable. >>
Whenever I decide I need to free up some funds, I sell directly to other collectors whom I know. I stopped using auction houses many years ago.
Experience the World through Numismatics...it's more than you can imagine.
<< <i>I haven't paid the 17.5% yet and may not, passed on a couple of coins I would of liked to have already. >>
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>The buyers premium at the Stack's Bower's Hong Kong auction was 25%. >>
Not that high, last Aug. HK auction is about 20%.
<< <i>I've paid 19.5% in wine and sports themed auctions. I have also received between 103% and 107% as a seller. MJ >>
20 percent is no big deal IF the auction house is your best bet for the coin you are wanting to sell. I think auction houses are going to have to rethink their business model. If they have to charge 20 percent to make a decent return they need to trim some fat off their business model. I myself have recieved 103 and 105% before. it kind of ticks me off a bit.
Some people are lazy and they do not mind paying the 20 percent, i myself try to sell my product where i recieve the most money with the least amount of fees incured.
I paid 19.5 percent on the Heritage arms and armour auction at the first of december and made out like a bandit, i would not be thrilled if i was a seller on the arms auction. I bought till i was out of money and then some. I wish the coin auctions were the same.
I look at auction houses like credit cards, i use the ones that charge 7 percent or less the most, those that want 20 percent or more for when the world ends and i am desperate.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"