[meteorite-list] Auction Questions

From: Adam Hupe <raremeteorites_at_meteoritecentral.com>
Date: Sat, 4 Aug 2012 06:53:07 -0700 (PDT)
Message-ID: <1344088387.3432.YahooMailNeo_at_web122002.mail.ne1.yahoo.com>

Hi Michael and List,

I think that 25% is a reasonable commission to charge the seller and see no need whatsoever for a buyers premium.? The seller will still realize the same amount at the end of the day.? 15% plus 10% still equals 25% of the selling price going to the party throwing the auction meaning the seller will still realize 75%.? I think 25% is reasonable considering the value added but playing games with numbers only serves to confuse me. I commend you on be open about the real costs and not hiding the buyers premium in small lettering on some obscure part of a website.

A buyers premium feels like a tax to me.? I cannot understand why anybody would pay 20% for the privilege of buying.?? Imagine if gas stations added 20% to the advertised? pump price only to have buyers shocked when they realized how much they really paid when it comes time to settle up the bill.? It is like advertising fuel at $3.00/gallon when you are really paying $3.60/gallon.

I need to think about why this concept even exists.

Kind Regards,

Adam




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
Received on Sat 04 Aug 2012 09:53:07 AM PDT