Which tells me that should be the price including a buyer's premium,
and if I'm buying from a seller that doesn't require a buyer's premium,
I should be paying less. I certainly shouldn't be paying that sale price
plus buyer's premium PLUS another buyer's premium on top of it.
Otherwise, it's simply an artificial way for dealers to inch up the price.
Because it "sold" for the hammer price. A Buyer's Premium -- or,
in normal business parlance, a commission -- was added to that
price after the auction.
Craig.
At 04:25 PM 7/16/2008, Smith, Grey - 1367 wrote:
I would agree with Sean on this. When someone
calls me and asks what a Creature from the Black
Lagoon one sheet will bring, I will look at our
archive and say, "Here is what we have gotten
for this item.." I would explain that the figure
does include a Buyer's Premium, but that that is
the going price in today's market. The "Hammer"
price plus the "Buyer's Premium" is what the
piece sold for and is thus, what the market
should bring for the item. I have great respect
for Rudy and his opinion, but I would always
appraise value by what it brought in auction with the BP.
-----Original Message-----
From: MoPo List
[mailto:[EMAIL PROTECTED] Behalf Of Sean Linkenback
Sent: Wednesday, July 16, 2008 6:12 PM
To: MoPo-L@LISTSERV.AMERICAN.EDU
Subject: Re: [MOPO] Freeman Fisher
From: MoPo List
[mailto:[EMAIL PROTECTED] On Behalf Of Craig Miller
You buy a house for $200,000. You pay taxes on the sale of
$16,000. You buy a home warranty at the same time, through
the realty company, for $1000. You've now paid $217,000.
You wrote a check for $217,000.
What is the value of the house?
Now what if you find out that the Real Estate
company got a commission from the home owners
and that the owners received less than $200K.
Whats the value of the house? What if the home
was listed for $220K, but they accepted 200K,
What if you sold the house the next day for
$240K, what if a bear was walking in the woods,
what if you find out Elvis slept in the house, Etc. etc., etc
I would argue you cant count taxes and
shipping, as they are costs that not every
purchaser pays, but everyone pays the buyers premium.
Im actually totally in shock at Rudys answer
and hes the first appraiser Ive ever heard
suggest such a thing. I was an appraiser for
ASA, have done many more for insurance
companies, estates, etc and never have heard of
any other appraiser using the hammer price
they look at the final sales price including premium.
If anyone here on their insurance policy lists
the hammer price as the value and not the full
price with buyers premium (or if anyone lists
what the sellers net received was) Id like to
hear about it, as youd be the first I know of to do such a thing.
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