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So with the New Tax Plan all Major Auction Houses will lower their Commission Fees... UPDATED 1/1/18
Broadstruck
Posts: 30,497 ✭✭✭✭✭
Right? 
To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
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There is no Santa Claus in numismatics ... or in numismatic auctions.
Makes no difference to me as I back out the commission rate so if they charge 17.5% my max bid is 82,5% + Juice.
I know I'm not alone as many collectors do the same today, as although we didn't mind paying 1.1 in recent years it's just gotten out of hand.
If the all went back to 10% and stopped offering consignees 106-108% of hammer, both the house and seller would end up making way more IMHO.
They are all not on break as at least one has answered a post today a few hours ago. I (for one) am being exposed to many ways of looking at things going on in the political realm that will have an effect on the coin business!
Let's see how the "sham-or-not" (?) tax cut affects the FUN show both on the floor and the auctions.
Sorry, wrong discussion,
Nothing is going down.
``https://ebay.us/m/KxolR5
That's a good one! Sure it will all just trickle down to us common folks.
Dream ON,,,,,,
Depends on whether there is an connection between the two, for any specific auction company.
Or if they are going to give their employees a raise.
EAC 6024
I doubt the plan will have a direct effect on the hobby... However, the indirect effect of more jobs and higher salaries will impact the hobby in due time. A better economy, more disposable funds in the pocket.... this is good news... not in time for FUN, but later... Cheers, RickO
That is assuming there is an indirect effect of more jobs and salaries. Historically, tax cuts have not produced such............ So we still sit with the same issue, too few collectors with less disposable income, so higher commissions needed for Auction houses to cover costs.
Best, SH
Way To Go Kaigin's!
KAGIN'S DEBUTS ONLINE ONLY AUCTION WITH LOW 7.5% BUYERS PREMIUM
Kagin's Auctions is debuting their first standalone internet only auction sale on January 20th, 2018. Approximately two hundred lots including Colonial coins, U.S. copper, silver and gold type, commemoratives, California fractional gold, tokens, medals, modern and even a few foreign coins. The coins are valued from $50 to $1000.
As in all Kagins Auctions, there will be no reserves and for the first time in Kagin's Auctions history - every lot will start at $1. The sale will feature a special low buyers premium of just 7 1/2 %.
We have been inundated with many great collector coins which are perfect for this kind of auction,explained Kagin's Auction Director, Nina Ann Phan, an industry veteran of these kind of auctions.
While these coins may not be the kind of great rarities and more expensive lots you see in our main auctions, these coins are very affordable and great for so many collectors. We charge nothing to our consignors and believe our introductory rate of just 7.5% buyers premium is the lowest in the industry, she enthusiastically added. This fills a need in our numismatic community.
Each coin will be described and imaged online. Additionally all the coins will be available for viewing at the FUN show in Tampa from Friday 1/3 through Saturday 1/6 at Kagin's table 1026 and during the Houston Money Show Thursday 1/18 through Saturday 1/20 at table 601.
To register go to Kagins.com or contact Nina@Kagins.com or call 888-8KAGINS(852-4467).
One new tax law provision that will hurt coin collectors and investors is the ability to trade coins on a tax deferred basis. In 2017 and before, a investor was able to trade one rare coin for another. The new tax law, in 2018 and thereafter, any coin trades will be taxable. Like kind trades will only apply to real estate. Ugh!
What the auction houses are counting on is us having more money to throw at them.
Sorry auction houses....... eBay and coin shows are good enough for me.