Susan, I would agree with you. Technically the buyer paid $600 for that item, not the sale price of $500. When this sale is quoted I think it would be accurate to say the item sold for $600. However if you want to be technically correct you can say the item sold for $600 inclusive of the premium and most people will understand what you're saying. FRANC
-----Original Message----- From: MoPo List [mailto:[EMAIL PROTECTED] On Behalf Of Susan Heim Sent: Saturday, July 12, 2008 9:10 PM To: [email protected] 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 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. 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.
