International Auction Houses

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seamonster

·Feb 4, 2012

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.

 

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gatorcpa

·Feb 4, 2012·ΩF InvestiGator

Rates range anywhere from zero (eBay) to 25%.

Take care,
gatorcpa

 

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Trev

·Feb 4, 2012·The Architect

Did you have a specific auction house in mind?

 

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seamonster

·Feb 5, 2012

gatorcpa

Rates range anywhere from zero (eBay) to 25%.

Take care,
gatorcpa

Respectable Member gatorcpa


Thanks for your response.

May I know the reason/s for the high commission charged.

Thank-you.

 

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seamonster

·Feb 5, 2012

Trev

Did you have a specific auction house in mind?

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.

 

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dsio

·Feb 5, 2012·Ash @ ΩF

seamonster

Respectable Member gatorcpa


Thanks for your response.

May I know the reason/s for the high commission charged.

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.

 

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gatorcpa

·Feb 5, 2012·ΩF InvestiGator

seamonster

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.

Your friends are absolutely correct. All that champagne and caviar doesn't come cheap! 🙄

Take care,
gatorcpa