Hello all,
I was talking with a fellow collector yesterday about auctions. A subject
came up that seems to have some controversary of opinions regarding auction
results. Let's say the gavel comes down for an item sold at $500, but with the
buyer's premium the total cost is $600. I often hear many people say "that item
sold for $500", but in my opinion it sold for $600. I have had many people say
to me you don't count the buyer's premium, but that sounds ridiculous to me
since the overall cost of the item to the buyer was $600. That final value
means alot when you have items closing in the thousands and the buyer's
premiums add several thousand more. I have customers looking for certain titles
and they will quote recent auction sales and often, especially when seeking to
buy not sell, quote the gavel price without the buyer's premium. I will
mention to them that the price they are quoting isn't the true selling price
that you have to include the buyer's premium. They will then inform me that
since they are looking to buy from a private party, the buyer's premium doesn't
apply. As I shake my head, I suggest that if you are going to quote auction
prices, you have to include the buyer's premium as that is really the final
cost of the item and what someone was willing to pay "total" for said item.
For instance, if Breakfast at Tiffany's gaveled at $5000, but the final cost
was $6000, how can you say "Breakfast at Tiffany's just sold for $5000"? I'm
rambling, I know......What do you all think?
Sue
www.hollywoodposterframes.com
Visit the MoPo Mailing List Web Site at www.filmfan.com
___________________________________________________________________
How to UNSUBSCRIBE from the MoPo Mailing List
Send a message addressed to: [EMAIL PROTECTED]
In the BODY of your message type: SIGNOFF MOPO-L
The author of this message is solely responsible for its content.
