I think I disagree with Mr. Potokar, although he may disagree with my
assertion that we're in disagreement.
As a buyer, if I think a poster is worth $10,000, then I'll pay a
final price of $10,000 regardless of whether it's at a flea market or
fancy auction house. If I'm buying it at a fancy auction house, I
will adjust my max bid to $8300 so that my final price comes out to
$10,000 after fees. (This assumes that I don't get swept up in the
moment and bid twice my supposed maximum.)
-rk
On Jul 12, 2008, at 7:13 PM, Jeff Potokar wrote:
i agree with you, toochis...
my feeling is this: the BP is a fee or commission charged and
gathered by the auction house, so this fee cannot be added to a
poster's final value. here's a hypothetical question: a high end
poster is taken to an appraiser and valued at $10K--maximum value.
this poster now sells at heritage for that price. but with the
19.5% BP, it costs another 1950.00 to the buyer to be able to
obtain the poster.
the appraised value of said poster is still $10K. it hasn't
suddenly jumped in value by almost 2 thousand dollars, simply
because the buyer got it via an auction house--this is the fee the
buyer had to pay, in order to acquire his or her $10K poster.
have a great weekend all.
jeff
On Jul 12, 2008, at 6:43 PM, Toochis Morin wrote:
Hello all,
It's a great question. I guess because the premium is a service
fee I don't count it. Because it's a commission. Because I deal
in commissions all the time, I don't usually count them as part of
the cost of the talent.
I agree that the fees are large enough to warrant being part of
the price.
Toochis
----- Original Message ----
From: Susan Heim <[EMAIL PROTECTED]>
To: [email protected]
Sent: Saturday, July 12, 2008 6:10:23 PM
Subject: [MOPO] O.k....Where do you stand?
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
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