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Author	Replies: 19 / Views: 2,386	Page: of 2

Peter THOMAS Pillar of the Community Australia 2830 Posts	Posted 09/07/2007 8:44 pm G'day, I've been interested in a few live auctions. I registered with Spinks. What a waste of time [they still write to me every three months by snail mail: no wonder they need to charge so much commission]. They don't include pics of many coins. And if you "contact us", they never reply, or give an irrelevant reply. For example, as I am on the other side of the world from the auction venue, the obvious question arises: how much for shipping or postage ? Their answer: ask a freight forwarder or the post office. If I were forced to sell any of the more valuable coins in my collection, I think ebay is vastly more efficient than any of the established auction houses. And, they just don't offer any service or marketing. If they're selling something you want: think about it carefully. Peter in Oz Report this Post to the Staff
USArmyParatrooper Pillar of the Community United States 1283 Posts	Posted 09/09/2007 2:25 pm I think you're looking at the BP all wrong. First of all you're right, 22.5% is ridiculous. But that's bad for the SELLER, not the buyer. BP is just a way of saying "our commission" on items they sell. The buyer will always bid what they think is fair TOTAL, which includes the BP. Frankly I think Heritage, Sacks, etc. should just sell coins with no BP. And then inform the sellers "we receive 15% commission on all sold items". IT'S THE SAME THING! It's almost like the BP is a way to hide this commission from the people consigning the coins. Edited by USArmyParatrooper 09/09/2007 2:26 pm Report this Post to the Staff
dglavin96 Valued Member United States 54 Posts	Posted 09/11/2007 6:52 pm The buyers' premium covers the auction house's overhead and profit. As a bidder, I make sure I know what the premium is and factor it into my maximum bid. Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 09/20/2007 3:31 pm quote: Frankly I think Heritage, Sacks, etc. should just sell coins with no BP. And then inform the sellers "we receive 15% commission on all sold items". IT'S THE SAME THING! It's almost like the BP is a way to hide this commission from the people consigning the coins. You hit the nail on the head, that is exactly what it is. I have been in this long enough to remember when the auction house had no buyers commission, and the standard was 20% from the consignor. It made quite a ruckus when the first house went to a split fee 10% consignor/10% buyer. But they started sucking up the consignments so the other houses followed their lead. Later one briefly tried a 15%/15% split but that didn't last. Then the industry went to a 5% consignor/15% buyer and that is pretty much where they are today, but the consignors portion is negotiable and in some cases the consignor can even get as much as 105% of the hammer price. He actually collects some of the buyers fee for himself. Report this Post to the Staff
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