I found a good explanation on this website about buyers premiums at auctions:
Here is a link that explains it: http://www.ganews.co.uk/premium.html Pretty interesting reading. He helped me greatly to understand the concept although I do not agree with it. Take Care Adam ----- Original Message ----- From: Adam Hupe <raremeteori...@yahoo.com> To: Adam <meteorite-list@meteoritecentral.com> Cc: Sent: Friday, August 3, 2012 8:55 PM Subject: [meteorite-list] Auction Questions Hi Michael and List Members, Your fees seem reasonable to me, especially after checking out some auction houses that charge a 20% seller premium plus a 20% buyer's premium equaling an outrageous 40%. Then catalog fees are added on top of that figure. Perhaps you can answer a few questions for me? Why do some auction houses charge a buyers premium to begin with? It seems that this practice confuses bidders and is misleading. I know it confuses me trying to make a quick multiplication in my head during live bidding. Why should the buyer have to pay this extra amount? It seems the seller should be pay a straight percentage like most auction sites do including eBay. When you bid on storage units, houses, cars or what have you, what you bid is what you pay. Seems pretty straight forward to me. Imagine if all businesses added a 20% buyers premium to their products and I am not talking about sales tax. What purpose does it serve? I believe in simplicity, Best Regards, Adam ________________________________ From: Michael Blood <mlbl...@cox.net> To: Meteorite List <meteorite-list@meteoritecentral.com> Sent: Friday, August 3, 2012 4:56 PM Subject: Re: [meteorite-list] Tucson Meteorite Auction 2013 (AD) Dear fellow List members, This coming Tucson Meteorite Auction will be held in the Same location as the last several years on Saturday, Feb. 9, 2013. http://michaelbloodmeteorites.com/AuctionTucson2013.html First, I would like to thank all of you for your past patronage in The Tucson Meteorite Auctions of the past. I appreciate it very much. Unfortunately the cost of putting on the auction has increased So significantly in the last several years that I have been walking a Narrow line just to stay in the black on these events, let alone make any money from them. On occasion, it has even cost me - after hundreds Of hours of prep (the on line catalog is quite time consuming)and money Up front. As you are probably aware, most auctions charge at least 25% Consignment fees while 35% is rapidly becoming the norm. In short, I must raise my consignment fee to 15% (for items submitted by Sept. 1) to be certain I will break even. In addition, most auctions now have a Buyers' Premium of 15% At least and often more. I will be holding that to 10%. I already have 15 items "up" and a personal collection of 17 pallasites and 38 other meteorites on the way - in the mail to me NOW.... As soon as they arrive I will get them photographed and listed in the On line catalog. That will make 70 lots from the get go. SEE HERE: http://michaelbloodmeteorites.com/AuctionTucson2013.html Those who would like to submit items, please contact me off list. I hope you all will be continuing your involvement - I would certainly love to see this auction continue as the joyful event it has become as part of the overall Tucson Show experience for the meteorite community. Thanks, Michael ______________________________________________ Visit the Archives at http://www.meteoritecentral.com/mailing-list-archives.html Meteorite-list mailing list Meteorite-list@meteoritecentral.com http://six.pairlist.net/mailman/listinfo/meteorite-list ______________________________________________ Visit the Archives at http://www.meteoritecentral.com/mailing-list-archives.html Meteorite-list mailing list Meteorite-list@meteoritecentral.com http://six.pairlist.net/mailman/listinfo/meteorite-list ______________________________________________ Visit the Archives at http://www.meteoritecentral.com/mailing-list-archives.html Meteorite-list mailing list Meteorite-list@meteoritecentral.com http://six.pairlist.net/mailman/listinfo/meteorite-list
