[meteorite-list] Auction Questions 2

From: Michael Blood <mlblood_at_meteoritecentral.com>
Date: Sat, 04 Aug 2012 03:46:12 -0700
Message-ID: <CC424B84.26E32%mlblood_at_cox.net>

Sorry Adam & all,

        I read and respond to posts chronologically and hadn't seen
This.

1) I was amazed that the Brits charge significantly less than most
Of the US auctions and

2) That they compound the buyers' premium, calling the difference
The "VAT" - very kinky.

        Michael


On 8/3/12 10:59 PM, "Adam Hupe" <raremeteorites at yahoo.com> wrote:

> I found a good explanation on this website about buyers premiums at auctions:
>
>
> Here is a link that explains it:
>
> http://www.ganews.co.uk/premium.html
>
> Pretty interesting reading.? He helped me greatly to understand the concept
> although I do not agree with it.
>
>
> Take Care
>
> Adam
>
>
>
>
> ----- Original Message -----
> From: Adam Hupe <raremeteorites at yahoo.com>
> To: Adam <meteorite-list at meteoritecentral.com>
> Cc:
> Sent: Friday, August 3, 2012 8:55 PM
> Subject: [meteorite-list] Auction Questions
>
> 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
>
>
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>
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Received on Sat 04 Aug 2012 06:46:12 AM PDT