it's hard to believe that anyone would call the buyers premium a tax
with no consequences
I suspect it's just their way of justifying paying someone less than
what someone may be asking, or as we call them - buying tactics
whenever I bid, I always count my total cost and I may even count the
cost of shipping to me
At 06:10 PM 7/12/2008, Susan Heim wrote:
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
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