[meteorite-list] Auction Questions

From: Michael Blood <mlblood_at_meteoritecentral.com>
Date: Sat, 04 Aug 2012 03:39:11 -0700
Message-ID: <CC4249DF.26E2F%mlblood_at_cox.net>

Hi Adam and all,

        The short answer is it is increasingly costly to manage an
Auction - and sellers won't place items if the consignment fee
Is too high. Personally, I believe a 20% buyers' premium is far
Too high and I am determined to never go beyond 10%. However,
If auctions (not just mine) are to survive the MUST have sellers
Consigning items and, as I said, there is a limit to what a seller
Will be willing to sacrifice as a consignment fee.

        I am not really suggesting this - but just AS AN EXAMPLE,
if you wanted To place 20 items with me I would happily allow
you to pay me 10% MORE for your listing fee and let the buyers
bid on your items with No buyers premium..... How would that
work for you? Not so good, eh? Not to worry, I really don't need
ANOTHER element to juggle at the Auction, so, please do not
"hear" this as something directed at you, Personally or some
ridiculous challenge for you to do that - I really don't want that
additional confusion I just think if you look at it from the consignor's
viewpoint it will be easier to understand.

        Also, by the way, for years I have actually had several people
SUGGEST I raise the buyers' premium to 10% so it would be easier
for them to calculate when bidding....

        Again, I am very lucky to have had the Auction Nymphs SO on
top of things this last auction when I was so ill I could barely sit up.
They are a terrific crew and very sharp - and on top of that, very nice
People. While I managed to call the auction I can't imagine if I had
Tried to add peoples totals after the auction.

        I have always tried to keep both the premium and consignment
Fees as low as possible - and I still do. Overhead has drastically risen
in the last 14 years while my fees & premium have increased minimally
In comparison. I think the Tucson Meteorite Auction is a hoot, I just
Have to be sure it doesn't COST me to put it on.

        By the way, I still haven't arranged for a speaker this year and if
Any list members are one or know one who would present a casual
45 minutes or so presentation, please do let me know. We have had some
Very interesting presenters in the past (I am told - I am always far too
Busy to catch even a few minutes of any of the presentations).

        While we are at it, I want to again thank Twink for her wonderful
Gold Basin cakes. I think this year she is considering an additional
Frankonia cake.... She is really something. The meteorite community is
Very lucky to have such a giving person.

        Hope I answered your question satisfactorily, Adam. If not, please
Do feel free to give me a call & we'll jaw about it.

        Best to all, Michael


On 8/3/12 8:55 PM, "Adam Hupe" <raremeteorites at yahoo.com> wrote:

> Hi Michael and List Members,
>
>
> Your fees seem reasonable to me, especially after checking out some auction
> houses that charge a 20% seller premium plus a 20% buyer's premium equaling an
> outrageous 40%.? Then catalog fees are added on top of that figure.? Perhaps
> you can answer a few questions for me?
>
>
> Why do some auction houses charge a buyers premium to begin with?? It seems
> that this practice confuses bidders and is misleading.? I know it confuses me
> trying to make a quick multiplication in my head during live bidding.? Why
> should the buyer have to pay this extra amount?? It seems the seller should be
> pay a straight percentage like most auction sites do including eBay.? When you
> bid on storage units, houses, cars or what have you, what you bid is what you
> pay.? Seems pretty straight forward to me.
>
> Imagine if all businesses added a 20% buyers premium to their products and I
> am not talking about sales tax. What purpose does it serve?? I believe in
> simplicity,
>
> Best Regards,
>
>
> Adam
>
>
>
>
>
> ________________________________
> From: Michael Blood <mlblood at cox.net>
> To: Meteorite List <meteorite-list at meteoritecentral.com>
> Sent: Friday, August 3, 2012 4:56 PM
> Subject: Re: [meteorite-list] Tucson Meteorite Auction 2013??(AD)
>
> Dear fellow List members,
>
> ? ? ? ? This coming Tucson Meteorite Auction will be held in the
> Same location as the last several years on Saturday, Feb. 9, 2013.
>
> http://michaelbloodmeteorites.com/AuctionTucson2013.html
>
> ? ? ? ? First, I would like to thank all of you for your past patronage in
> The Tucson Meteorite Auctions of the past. I appreciate it very much.
>
> ? ? ? ? Unfortunately the cost of putting on the auction has increased
> So significantly in the last several years that I have been walking a
> Narrow line just to stay in the black on these events, let alone make
> any money from them. On occasion, it has even cost me - after hundreds
> Of hours of prep (the on line catalog is quite time consuming)and money
> Up front.
>
> ? ? ? ? As you are probably aware, most auctions charge at least 25%
> Consignment fees while 35% is rapidly becoming the norm. In short,
> I must raise my consignment fee to 15% (for items submitted by Sept. 1)
> to be certain I will break even.
>
> ? ? ? ? In addition, most auctions now have a Buyers' Premium of 15%
> At least and often more. I will be holding that to 10%.
>
> ? ? ? ? I already have 15 items "up" and a personal collection of 17
> pallasites and 38 other meteorites on the way - in
> the mail to me NOW....
> As soon as they arrive I will get them photographed and
> listed in the
> On line catalog. That will make 70 lots from the get go. SEE HERE:
>
> http://michaelbloodmeteorites.com/AuctionTucson2013.html
>
> ? ? ? ? Those who would like to submit items, please contact me off list.
>
> ? ? ? ? I hope you all will be continuing your involvement - I would
> certainly love to see this auction continue as the joyful event it has
> become as part of the overall Tucson Show experience for the meteorite
> community.
>
> ? ? ? ? Thanks, Michael
>
>
> ______________________________________________
>
> Visit the Archives at
> http://www.meteoritecentral.com/mailing-list-archives.html
> Meteorite-list mailing list
> Meteorite-list at meteoritecentral.com
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Received on Sat 04 Aug 2012 06:39:11 AM PDT


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