@wondercoin said:
"So who is actually ponying up the 10% buyer's fee on these coins"
RR: The buyer ... every cent of it. And, for that matter, the buyer will be ponying up 20% over at Stacks. To the extent Stacks enters into some (a small percentage?) consignment agreements where they "share" a portion of that buyers' fee - so be it. It does not change the fact that the buyer will be paying a 20% buyers' fee.
Just my 2 cents.
Wondercoin
There's no doubt the buyer's fee shows up on the buyer's invoice. Can't have smoke and mirrors otherwise.
There's no doubt 95% or more of buyer's have backed out the buyer's fees when setting their bids....effectively negating the entire concept of buyer's paying a commission/fee.
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With the same logic, a 20% buyer's fee and 0% seller's fee would seem to suggest the consignor gets off Scott free. When in fact they still get drilled for a 20% BF, less whatever amount they can negotiate with the auction house.
When I negotiated by last auction deal with S/B I received hammer + 6% based on the then 15% BF. The seller's fee was already at 0%. So the additional 6% above hammer must have come out of the buyer's fee (ie it belongs to the consignor too). 20% seller and 0% buyers....or 20% buyer's and 0% sellers....it's the same deal. As a consignor or buyer I don't care either way how you state it. But, I can assure you the auction house cares. In either case the buyer backs down their bids accordingly and hands the BF back to the consignor where it rightly belongs. Consignors pay commissions....not bidders and buyers.
If the auction houses want, they can put the 20% buyer's fees and 10% seller's fee on my successful bidder invoices. I will have negated both of them by backing off my bids by 31% (ie divide FMV by 1.3 for your bid). The consignor pays them both in the end. If one truly believes buyer's pay the buyer's fee commission, then they must also believe that they overpay for those lots by FMV + buyer's fee. Their choice if that makes them feel better. Some auto dealers I know attend auto auctions and they never backed out their bids...while paying a 5% buyer's fee. It never occurred to them that it was anything but the "cost of doing business"....and coming out of their pocket. For a measly 5%, most didn't care any ways.
_10. GreatCollections shall remit to Consignor
, within 30 days after the close of the Auction, the
net proceeds, which equals the Hammer Price less Seller’
s Fees, Listing Fees, Interest for Cash
Advances, other monies owed to GreatCollections by Consignor and Cash Advances Principal (in
order). _.....in other words seller does no better than hammer. They fall a buyer's fee short of FMV.
Ebay could step up to the plate with their 8.5% including paypal top seller cost and provide a lot of extra services. They are potentially much better with greater flexibility if the sellers are running their store right. If they made sure that all ebay sales were given equal parity in records across the board of online and printed pricing guides they would gain business.
Comments
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With the same logic, a 20% buyer's fee and 0% seller's fee would seem to suggest the consignor gets off Scott free. When in fact they still get drilled for a 20% BF, less whatever amount they can negotiate with the auction house.
When I negotiated by last auction deal with S/B I received hammer + 6% based on the then 15% BF. The seller's fee was already at 0%. So the additional 6% above hammer must have come out of the buyer's fee (ie it belongs to the consignor too). 20% seller and 0% buyers....or 20% buyer's and 0% sellers....it's the same deal. As a consignor or buyer I don't care either way how you state it. But, I can assure you the auction house cares. In either case the buyer backs down their bids accordingly and hands the BF back to the consignor where it rightly belongs. Consignors pay commissions....not bidders and buyers.
If the auction houses want, they can put the 20% buyer's fees and 10% seller's fee on my successful bidder invoices. I will have negated both of them by backing off my bids by 31% (ie divide FMV by 1.3 for your bid). The consignor pays them both in the end. If one truly believes buyer's pay the buyer's fee commission, then they must also believe that they overpay for those lots by FMV + buyer's fee. Their choice if that makes them feel better. Some auto dealers I know attend auto auctions and they never backed out their bids...while paying a 5% buyer's fee. It never occurred to them that it was anything but the "cost of doing business"....and coming out of their pocket. For a measly 5%, most didn't care any ways.
_10. GreatCollections shall remit to Consignor
, within 30 days after the close of the Auction, the
net proceeds, which equals the Hammer Price less Seller’
s Fees, Listing Fees, Interest for Cash
Advances, other monies owed to GreatCollections by Consignor and Cash Advances Principal (in
order). _.....in other words seller does no better than hammer. They fall a buyer's fee short of FMV.
Ebay could step up to the plate with their 8.5% including paypal top seller cost and provide a lot of extra services. They are potentially much better with greater flexibility if the sellers are running their store right. If they made sure that all ebay sales were given equal parity in records across the board of online and printed pricing guides they would gain business.