Respectable Members Generally, what is the amount of commission (premium) to be paid to international auction houses, if one is successful in a bid? Thank-you.
Respectable Member gatorcpa Thanks for your response. May I know the reason/s for the high commission charged. Thank-you.
Respectable Member Trev Thanks for the response I do not have any in mind but I have been told by friends, some of the auction houses charge commissions on both, the seller and also, the buyer. It is rather interesting to know this. Thank-you.
Thing is sale prices at auction are often high as well. The 25% commission is because Christies and others know that they can get a huge bunch of collectors with cash in the bank to plonk their bums on seats and look at your watch on a projector screen while someone counts bids, while in a bricks and mortar retail setting they only have whoever walks past, and as an individual, you only have whoever you know, or can convince to buy in a classified ad.
Your friends are absolutely correct. All that champagne and caviar doesn't come cheap! Take care, gatorcpa