Following on from the Staceys post re: Credit Cards |
View previous topic :: View next topic |
Author |
Message |
Fishy
Joined: 07 Jun 2011 Posts: 1217
|
Posted: Sun Jan 14, 2018 4:20 pm
Post subject: Following on from the Staceys post re: Credit Cards |
|
|
Tooveys commission prices for their auction on 23rd January:
Buyer’s Premium 29.4% (including VAT @ 20%) of the hammer price. Lots purchased online via the-saleroom.com will attract an additional charge of 6% (including VAT @ 20%) of the hammer price.
Guess who won't be bidding on anything from there.............. _________________ Millwall league AWAYS wanted
45/6 Newport; Swansea; Leicester.
47/8 Coventry.
48/9 Newport.
49/0 Walsall; Exeter.
50/1 Port Vale.
51/2 Port Vale 1/5.
52/3 Swindon. |
|
Back to top |
|
|
Auchinleckian Forum Moderator
Joined: 21 Nov 2008 Posts: 4352
|
Posted: Sun Jan 14, 2018 5:07 pm
Post subject: |
|
|
They're shooting themselves in the foot there, those kinds of prices are unsustainable and bordering on theft. |
|
Back to top |
|
|
Dorking
Joined: 05 Feb 2010 Posts: 2421
|
Posted: Sun Jan 14, 2018 5:25 pm
Post subject: |
|
|
Ridiculous level of add-ons! More than a third on top if using the-saleroom! |
|
Back to top |
|
|
New Forest
Joined: 05 Jun 2017 Posts: 148
|
Posted: Sun Jan 14, 2018 6:28 pm
Post subject: |
|
|
I can understand why the Government want to do away with the surcharge on Credit Cards. What amazes me is how people react to it. If you pay by Debit Card then you avoid any extra charges. If you use a Credit Card you still pay extra unless you pay off the lot at the end of the month.
I am annoyed that the auction houses do impose such high commissions. But, it is the same for everyone. If you do not want to use a particular auction house it will result in lower hammer prices, which could be good news for the bidder. That may mean I obtain rare programmes for less than I might have done.
It won't stop me from bidding on items I need. I can also take in the extra costs when deciding what to bid. |
|
Back to top |
|
|
sharrowblade Forum Moderator
Joined: 03 Jul 2009 Posts: 3598 Location: Beautiful Downtown Bramall Lane
|
|
Back to top |
|
|
slightfold
Joined: 13 Oct 2009 Posts: 594
|
Posted: Sun Jan 14, 2018 9:06 pm
Post subject: |
|
|
I agree with Sharrowblade. The buyer's commission crept in and then once accepted, crept up. This was a way of auctioneers being paid twice! If you are selling you could lose getting on for half of the amount bid once both the seller's and buyer's charges are added together and taken from the total selling price! Obviously auctioneers will point out the need for these fees to provide the service they do, yeah! Now some are looking to ratchet up prices even more than the actual cost to cover the money 'lost' for on credit card commissions. |
|
Back to top |
|
|
Tynie Topics
Joined: 26 Nov 2009 Posts: 3509
|
|
Back to top |
|
|
amazorblade
Joined: 28 May 2011 Posts: 71
|
Posted: Mon Jan 15, 2018 11:25 am
Post subject: |
|
|
If there is no buyers premium then no-one will sell items at auction. There would be no money in it for the vendor.
If you use Tooveys example above - an item sold for £100 would net the vendor £74 (£8 lotting fee and £18 sale fees (15% + vat). The purchaser would pay and additional £35.40 (29.4% plus £6 saleroom). If you put that cost onto the vendor , whos going to put up an item for sale at £100 to net £38.60?
At the end of the day this all boils down to knowing what you will pay to the auction house before you bid and adjust your maximum bids accordingly. |
|
Back to top |
|
|
TheMusic
Joined: 13 Aug 2011 Posts: 533
|
Posted: Mon Jan 15, 2018 12:14 pm
Post subject: |
|
|
That's only if the current number of auction houses should be maintained though, no?
For example, if there were fewer auction houses, those still in existence could take on more business, pass some of that profit onto buyers by cutting their premiums and thereby improve their image and presumably attract more regular and semi-regular customers in the future.
As it is, isn't it just a case of too many auction houses trying to get their slice of the pie by exploiting the limited number of collectors and in the process simply causing more harm to the market?
Of course, in any walk of life, one can say "well, you know the rules in advance", but does that mean those rules should stay like that, to the detriment of collectors and sometimes vendors too? |
|
Back to top |
|
|
CodeXIII
Joined: 07 Oct 2010 Posts: 275 Location: St Helens
|
Posted: Mon Jan 15, 2018 1:26 pm
Post subject: |
|
|
and another reason why Ebay will be around to mop up casual big ticket item buyers and sellers like me.
there's no way im paying 30% more for an item that i can potentially buy online without any fees apart from postage.
Yes, i might have to wait a while for the nuggets to appear on Ebay but that's my choice.
They're cutting their own throats. Bizarre! |
|
Back to top |
|
|
TheSorter!
Joined: 07 May 2016 Posts: 198
|
Posted: Mon Jan 15, 2018 1:56 pm
Post subject: following on |
|
|
What about Sheffield Auction Gallery charging £12 to put one programme in an envelope!! Postage extra! An absolute con! |
|
Back to top |
|
|
sharrowblade Forum Moderator
Joined: 03 Jul 2009 Posts: 3598 Location: Beautiful Downtown Bramall Lane
|
Posted: Mon Jan 15, 2018 11:43 pm
Post subject: |
|
|
amazorblade wrote: |
If there is no buyers premium then no-one will sell items at auction. There would be no money in it for the vendor.
If you use Tooveys example above - an item sold for £100 would net the vendor £74 (£8 lotting fee and £18 sale fees (15% + vat). The purchaser would pay and additional £35.40 (29.4% plus £6 saleroom). If you put that cost onto the vendor , whos going to put up an item for sale at £100 to net £38.60?
At the end of the day this all boils down to knowing what you will pay to the auction house before you bid and adjust your maximum bids accordingly. |
No buyers premium nobody sells at auction.
Not sure about this. How did they go on before this was introduced?
The purchaser would pay and additional £35.40 (29.4% plus £6 saleroom). If you put that cost onto the vendor , whos going to put up an item for sale at £100 to net £38.60?
Don't think anyone is suggesting the amount that the purchaser currently pays as well as the vendors fee's should be all heaped upon the vendor.
At the end of the day this all boils down to knowing what you will pay to the auction house before you bid and adjust your maximum bids accordingly.
Just because that's the way it is,.... doesn't make it right, or actually explains why it is common practice _________________ http://www.flickr.com/photos/sharrowblade/sets
A Sheffield United Programme guide |
|
Back to top |
|
|
goonerboy
Joined: 24 Aug 2009 Posts: 1047
|
Posted: Tue Jan 16, 2018 12:55 am
Post subject: |
|
|
I guess another issue in this debate is what auction houses sell. I often look at sale results and most auctions end up only selling around 65% of items. Maybe they need to be more particular about the items they sell. If they increased the percentage of sold items then they would have more scope to reduce fees but still make money.
With costs of auction buying going higher and higher then hammer prices will surely start to get negatively impacted. Of course the rare items will still go for good money because there are enough buyers who will pay what it takes but there are a lot of more routine items or those plethora of job lots for which there will be a downward shift.
In general buyers premium is an unbelievable and outrageous concept. Its like going to a high street store and then at the counter being told you have to pay 25-30 % more for the privilege of buying it. Let's hope buyers vote with their feet until some decency sets in.
Maybe eBay is not perfect but at least buyers have a straightforward outcome. You pay a price for the item and that's it. No extras or costs which just go into a third party pocket. |
|
Back to top |
|
|
Flaming Pie
Joined: 26 Nov 2016 Posts: 931
|
Posted: Tue Jan 16, 2018 12:13 pm
Post subject: Following on from Staceys |
|
|
Couldn't agree more goonerboy .Auction houses are really only for ultra - rare items. I have decided to learn this year how to sell on Ebay. I placed some items recently in an auction house not far from where l live.They sold for just under £200.When the cheque came( after auction costs ) it was for £83. Of course, it was up to me to check all of these costs out before placing them with them, but didn't expect this level of fees . l wish they would spell this out more clearly to viewers on the TV auction programmes. "Here we have got Betty, who has just sold her late husband's collection of football programmes for £300. After auction costs we work it out that Betty will receive just over £232". Oh yeah! |
|
Back to top |
|
|
New Forest
Joined: 05 Jun 2017 Posts: 148
|
Posted: Tue Jan 16, 2018 12:46 pm
Post subject: Re: Following on from Staceys |
|
|
Flaming Pie wrote: |
Couldn't agree more goonerboy .Auction houses are really only for ultra - rare items. I have decided to learn this year how to sell on Ebay. I placed some items recently in an auction house not far from where l live.They sold for just under £200.When the cheque came( after auction costs ) it was for £83. Of course, it was up to me to check all of these costs out before placing them with them, but didn't expect this level of fees . l wish they would spell this out more clearly to viewers on the TV auction programmes. "Here we have got Betty, who has just sold her late husband's collection of football programmes for £300. After auction costs we work it out that Betty will receive just over £232". Oh yeah! |
Your thinking is all wrong. You use an auction house for rare items only, where you hope to get the best possible prices For run-of-the-mill items use eBay. The rubbish goes into eBay BIN.
Some top auction houses only accept items above a minimal amount. From your figures given the commission seems to be over 50%! Either I am out of touch or you should use another auction house. At least name them so the rest of us can avoid them. |
|
Back to top |
|
|
Flaming Pie
Joined: 26 Nov 2016 Posts: 931
|
Posted: Tue Jan 16, 2018 2:57 pm
Post subject: Following on |
|
|
I think l said auction houses are really for rarer items, eBay for lesser items.Saying that , some incredible prices recently on eBay for Scottish programmes! I found a statement for a recent auction that l put items into.Here it is::
Sale proceeds £150
Less commission £48
FlSC £32-40
Net amount £69
Brought forward (GS300317) £7-20
Total due to vendor £62-40
So l was hit for over 50% costs.My own fault, l should have checked this out.
To be fair to some non - specialist auction houses, they don't really know the value of lots of sports items , so instead of advising you that they are not really worth putting in because of auction costs, they give them a go. Perhaps where you live you are not hit for such high costs? Not prepared to name .Haven't got the funds. Even when you are right, you can be found wrong in libel cases!
Last edited by Flaming Pie on Tue Jan 16, 2018 4:45 pm; edited 1 time in total |
|
Back to top |
|
|
martino
Joined: 21 Jun 2011 Posts: 2166 Location: Beautiful downtown Goostrey, Cheshire
|
Posted: Tue Jan 16, 2018 3:30 pm
Post subject: |
|
|
On top of the seller's commission a lot of Auction Houses now charge for other things, e.g. a lotting fee, photograph(s) for The Saleroom / Catalogue so the costs can rise rapidly. |
|
Back to top |
|
|
Pete’s Picture Palace Forum Moderator
Joined: 19 Feb 2013 Posts: 4223 Location: Wallington Surrey
|
Posted: Tue Jan 16, 2018 4:05 pm
Post subject: |
|
|
Just to say and in contrast to all the above, Sporting Memorys are listing a friend of mine's cricket autograph book with no charge whatsoever and a 15% commission on sale - no sale, no fee.
Can't ask for fairer than that and credit where it's due. |
|
Back to top |
|
|
pafcprogs
Joined: 24 Dec 2008 Posts: 994 Location: Westerham Kent
|
Posted: Tue Jan 16, 2018 4:08 pm
Post subject: |
|
|
I have always been treated very well by Chris and his team at Sportingold...as buyer and seller... _________________ Currently disposing of my collection so please email any wants lists to [email protected].
Most Plymouth post 1959 but plenty of others including reserves, friendlies, Cup Finals Internationals and Club issues, handbooks and other sports. |
|
Back to top |
|
|
martino
Joined: 21 Jun 2011 Posts: 2166 Location: Beautiful downtown Goostrey, Cheshire
|
Posted: Tue Jan 16, 2018 9:22 pm
Post subject: |
|
|
Pete’s Picture Palace wrote: |
Just to say and in contrast to all the above, Sporting Memorys are listing a friend of mine's cricket autograph book with no charge whatsoever and a 15% commission on sale - no sale, no fee.
Can't ask for fairer than that and credit where it's due. |
Agreed, Peter. We must be careful not to criticize all Auction Houses for profiteering. |
|
Back to top |
|
|
|
|
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
|
|
|
|
|
|
ndg1860, 1 day, 2 hours ago
grantham, 1 day, 15 hours ago
derby1884, 1 day, 17 hours ago
derby1884, 1 day, 17 hours ago
Pete’s Picture Palace, 1 day, 20 hours ago
JJPROGRAMMES, 1 day, 22 hours ago
Leigh Treymaine, 2 days, 1 hour ago
nutfield priory, 2 days, 3 hours ago
Thedoog10, 2 days, 22 hours ago
smk06, 2 days, 23 hours ago
Thedoog10, 2 days, 23 hours ago
Thedoog10, 2 days, 23 hours ago
smk06, 3 days ago
smk06, 3 days ago
Thedoog10, 3 days, 1 hour ago
Thedoog10, 3 days, 1 hour ago
Pete’s Picture Palace, 3 days, 1 hour ago
Dorking, 3 days, 1 hour ago
smk06, 3 days, 4 hours ago
farmersboy, 3 days, 16 hours ago
Thedoog10, 4 days, 13 hours ago
martino, 4 days, 15 hours ago
colchestersid, 4 days, 17 hours ago
Cpfc jim, 4 days, 20 hours ago
Raxfactor, 4 days, 23 hours ago
Driver8, 5 days, 2 hours ago
Tintowner, 5 days, 4 hours ago
sharrowblade, 5 days, 14 hours ago
RIKERBCFC, 5 days, 22 hours ago
Dorking, 5 days, 22 hours ago
grantham, 6 days, 17 hours ago
Enniskillendoc, 6 days, 18 hours ago
James, 6 days, 19 hours ago
Raxfactor, 6 days, 19 hours ago
Raxfactor, 6 days, 20 hours ago
ndg1860, 6 days, 20 hours ago
colchestersid, 6 days, 20 hours ago
Raxfactor, 6 days, 21 hours ago
Pete’s Picture Palace, 1 week ago
Martin1963, 1 week ago
ndg1860, 1 week ago
PhilWBA, 1 week ago
Flaming Pie, 1 week ago
slightfold, 1 week ago
CAFC 1947, 1 week, 1 day ago
Flaming Pie, 1 week, 1 day ago
CAFC 1947, 1 week, 1 day ago
DerbyCounter, 1 week, 1 day ago
Dorking, 1 week, 2 days ago
Dorking, 1 week, 3 days ago |
|
11,650
Members
10,148
Members Wants
39
Members Mini-Stores
4,227
Members Items for Sale
|
|
|