Hi,
When Heritage lists what a poster sold for in the auction archives it doesn't
say $5000 plus a BP. It just says $6000 with no mention of the hammer price.
Same with any other auction house's auction archives only results listed
include the BP.
Brek
-------------- Original message --------------
From: Susan Heim <[EMAIL PROTECTED]>
Hello all,
I was talking with a fellow collector yesterday about auctions. A subject
came up that seems to have some controversary of opinions regarding auction
results. Let's say the gavel comes down for an item sold at $500, but with the
buyer's premium the total cost is $600. I often hear many people say "that item
sold for $500", but in my opinion it sold for $600. I have had many people say
to me you don't count the buyer's premium, but that sounds ridiculous to me
since the overall cost of the item to the buyer was $600. That final value
means alot when you have items closing in the thousands and the buyer's
premiums add several thousand more. I have customers looking for certain titles
and they will quote recent auction sales and often, especially when seeking to
buy not sell, quote the gavel price without the buyer's premium. I will
mention to them that the price they are quoting isn't the true selling price
that you have to include the buyer's premium. They will then infor
m me t
hat since they are looking to buy from a private party, the buyer's premium
doesn't apply. As I shake my head, I suggest that if you are going to quote
auction prices, you have to include the buyer's premium as that is really the
final cost of the item and what someone was willing to pay "total" for said
item. For instance, if Breakfast at Tiffany's gaveled at $5000, but the final
cost was $6000, how can you say "Breakfast at Tiffany's just sold for $5000"?
I'm rambling, I know......What do you all think?
Sue
www.hollywoodposterframes.com
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