I have no idea what HA's policy is on this, but in years gone by and perhaps
HA would like to comment here themselves, other auction houses used to list
their final sale "price" - and it included BP, sale commission (yes, some have
it going and coming) the cost they charged for the restoration and linen
backing to the consignor (at the ratesTHEY charged for the resto, not the
actual discount rates most auction houses get from the resto business due to
volume of work they give them), the fees that some auction used to (and maybe
still do) for the photography of the item and it's inclusion in a catalogue, et
al, ad nausea.
The final "achieved price" can often appear grossly inflated - especially on
the middle range stuff.
And the obvious reason is simply - it allows any auction house to announce a
"record overall sales total"for the day, and it makes potential consignors look
at the results and perhaps without knowing how that final "achieved price" was
achieved... be attracted to that auction house becuase they seem to get great
"results".
What the consignor gets out of it may be considerably less. If all one has to
do is deduct HA's BP and seller's commission (if they have one) then one can
see the "final bid price".
The final sale price is the bid price plus BP. One can factor in shipping if
one wants to as the total one "paid" for the piece as well.
There is another side of the coin that might also be worth discussing, however,
and one that makes trawling through old Posterprice Alamanacs fascinating -
knowing or wondering of the prices realised on the auction house listings by
some houses include all thos extraneous add-ons to give a final number.
Phil
----- Original Message -----
From: Brek Anderson
To: MoPo-L@LISTSERV.AMERICAN.EDU
Sent: Sunday, July 13, 2008 2:40 PM
Subject: Re: [MOPO] O.k....Where do you stand?
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
inform me that 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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