Author Topic: Auction House Practices  (Read 29346 times)

Offline Simes

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Re: Auction House Practices
« Reply #25 on: September 22, 2014, 05:18:27 AM »
Simes, not sure what you mean here.
you can't bid after an auction closes.


Yes, sorry.  I wasn't clear.

The week's bidding of max and proxy bids closes to be turned over to a period of Live Bidding on the Sunday night.  During the Live bidding, the 'secret' max bid was maxed out without surpassing it.  It now also makes me wonder at Gavelsnipe but this is now mitigated I guess further to their Live bidding element.  One just has to stay up through the night.

Going forward, I will just stay up and bid on the night in question.  No other warning of my impending interest.

Offline originalcinemaposters

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Re: Auction House Practices
« Reply #26 on: September 29, 2014, 09:08:55 AM »
Wellers of Guildford...
I bid on a poster, was the only one bidding and won at well below the guide. I went to pay today and was told that I have not met the reserve and I could pay at that price which was £100 more than I bid
the reserve was not mentioned at the time of auction or after the hammer fell, so I went away thinking I had won when I hadn't. How common is this practise, I am pretty peeved !
Paul

Offline Simes

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Re: Auction House Practices
« Reply #27 on: September 29, 2014, 09:25:02 AM »
Good God.

That is utterly horrendous practice.  Never heard of that.

Offline originalcinemaposters

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Re: Auction House Practices
« Reply #28 on: September 29, 2014, 09:25:46 AM »
update... I really kicked off, and five minutes later someone phoned me back to admit their error and I got the poster for the bid price... sweet!
Fair play to Wellers for doing the right thing in the end

The Milky Bars are on me!

Offline CSM

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Re: Auction House Practices
« Reply #29 on: September 29, 2014, 09:55:58 AM »
Great to hear!
Chris

Offline originalcinemaposters

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Re: Auction House Practices
« Reply #30 on: September 29, 2014, 10:27:43 AM »
my partner is always amazed what I get discounts given a gentle reminder of consumer rights etc. It certainly pays to complain some times, you just have to know when to stop!

Offline Simes

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Re: Auction House Practices
« Reply #31 on: September 29, 2014, 11:18:01 AM »
Well done.

And, too right.

Offline syracuselaxfan

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Re: Auction House Practices
« Reply #32 on: September 29, 2014, 12:31:09 PM »
Quote
Indeed.  And this is something our former member Bruce has been highlighting for quite some time...

I've been away from this site for awhile. What happened to Bruce?
Chris S.

Offline CSM

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Re: Auction House Practices
« Reply #33 on: September 29, 2014, 02:05:10 PM »
I've been away from this site for awhile. What happened to Bruce?


He quit.
Chris

Offline syracuselaxfan

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Re: Auction House Practices
« Reply #34 on: September 29, 2014, 02:18:21 PM »
Guess I missed some excitement while I was away  :-\
Chris S.

Offline originalcinemaposters

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Re: Auction House Practices
« Reply #35 on: September 30, 2014, 02:27:01 AM »
He quit.
the business or just this forum?

Offline erik1925

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Re: Auction House Practices
« Reply #36 on: September 30, 2014, 02:29:44 AM »


-Jeff

Offline CSM

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Re: Auction House Practices
« Reply #37 on: September 30, 2014, 09:33:39 AM »
the business or just this forum?

eMovie is certainly still going strong
Chris

Offline jayn_j

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Re: Auction House Practices
« Reply #38 on: September 30, 2014, 10:35:42 AM »
I've been away from this site for awhile. What happened to Bruce?

Lets just say, without saying anything specific.

- Some skins are thinner than others
- Rules are meant to be arbitrarily changed
- People are no darned good
- A predator always attacks the weakest member of the herd
- A nuclear meltdown will always cause some collateral damage
- A constantly chattering bird will eventually receive a load of buckshot

Bruce is alive and well on other forums. Note that the above observations are directed at more than 1 person.  Few are innocent here.
-Jay-

Offline archie leach

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Re: Auction House Practices
« Reply #39 on: September 30, 2014, 01:26:46 PM »
Bruce has 'quit' every form at one time or another (except possibly MOPO). 

It's like your forum hasn't really arrived until Bruce quits it... So, congrats APF, you are in very good company...

Offline wonka

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Re: Auction House Practices
« Reply #40 on: September 30, 2014, 09:30:58 PM »
Hi Bruce! Hi Mel! Hi Carson!
"Ben. His name is Ben. But he's a Celtic fan, so Asshole will do too." -Thierry

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I was mistaken,

Offline Ari

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Re: Auction House Practices
« Reply #41 on: September 30, 2014, 11:38:37 PM »
^ ha yep
An Error Has Occurred!
You can't report your own post to the moderator, that doesn't make sense!

Offline Crazy Vick

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Re: Auction House Practices
« Reply #42 on: December 09, 2014, 02:59:32 PM »
Q: Is the buyer's premium, the only way that an auction house makes any money? 

E.g. if my consigned poster with HA sells for $200, do i get all of the $200 and HA would get the premium for profit? 

Offline CSM

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Re: Auction House Practices
« Reply #43 on: December 09, 2014, 03:04:24 PM »
Q: Is the buyer's premium, the only way that an auction house makes any money? 

E.g. if my consigned poster with HA sells for $200, do i get all of the $200 and HA would get the premium for profit? 

No.  They get ALL of the buyer's premium and a % of the item that sold (whatever that agreement was at the time of consignment). 
Chris

Offline Crazy Vick

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Re: Auction House Practices
« Reply #44 on: December 09, 2014, 03:16:35 PM »
thanks.  I guess that means that consignement % is negotiable?  (unlike EMP for example, who list all their consignment percentages outright)

Offline CSM

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Re: Auction House Practices
« Reply #45 on: December 09, 2014, 04:43:00 PM »
thanks.  I guess that means that consignement % is negotiable?  (unlike EMP for example, who list all their consignment percentages outright)

I would assume it is on very special or "high ticket" items.

I bet Bruce would do the same too if you had something amazing you were considering consigning
Chris

Offline Harry Caul

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Re: Auction House Practices
« Reply #46 on: December 09, 2014, 05:02:27 PM »
I think HA's consignment fees are only negotiable if you have REALLY big ticket items (a la London After Midnight, Bride of Frankenstein teaser, etc...). 

Otherwise their consignment fee is 20% for sig auction items and 25% for weekly auctions.  On top of that they charge the buyer a 19.5% BP.  So if you see something in their archive as being sold for $500 including BP, their BP was $82.  Of the $418 left, they took another $83 assuming it was a sig auction item.  If not they would have taken $105.  So their final take in the transaction would be 33% ($165) or 37% ($186).  eMovie charges a sliding consignment fee ranging from a lot (>50% for low value items) to somewhere around 20% (from memory) depending on the final value achieved.  They do not charge a BP.  I can't recall Rich's fees off-hand, but I seem to remember them being fixed at like 25% or something -- Rich by all mean correct me if I'm wrong. 

That all said, HA does seem to get some of the highest prices for certain types of items.  It's up to you to decide if the potential increase in final value for your particular item would offset the added fees.  If you have a bunch of pre-60s stuff, HA may serve you better.  If you have lots of high-end 80s material I would think eMovie might be a better venue -- especially as of late. 

Offline MoviePosterBid.com

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Re: Auction House Practices
« Reply #47 on: December 09, 2014, 05:21:21 PM »
thanks.  I guess that means that consignement % is negotiable?  (unlike EMP for example, who list all their consignment percentages outright)

if you want to negotiate fees, you better have some top-notch expensive stuff
They aren't going to reduce fees for a Revenge of the Jedi one sheet, though a CFTBL "may" get a reduced fee.
You would almost certainly be able to get fees reduced for an Action Comics #1

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Offline MoviePosterBid.com

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Re: Auction House Practices
« Reply #48 on: December 09, 2014, 05:24:01 PM »
I think HA's consignment fees are only negotiable if you have REALLY big ticket items (a la London After Midnight, Bride of Frankenstein teaser, etc...). 

Otherwise their consignment fee is 20% for sig auction items and 25% for weekly auctions.  On top of that they charge the buyer a 19.5% BP.  So if you see something in their archive as being sold for $500 including BP, their BP was $82.  Of the $418 left, they took another $83 assuming it was a sig auction item.  If not they would have taken $105.  So their final take in the transaction would be 33% ($165) or 37% ($186).  eMovie charges a sliding consignment fee ranging from a lot (>50% for low value items) to somewhere around 20% (from memory) depending on the final value achieved.  They do not charge a BP.  I can't recall Rich's fees off-hand, but I seem to remember them being fixed at like 25% or something -- Rich by all mean correct me if I'm wrong. 

That all said, HA does seem to get some of the highest prices for certain types of items.  It's up to you to decide if the potential increase in final value for your particular item would offset the added fees.  If you have a bunch of pre-60s stuff, HA may serve you better.  If you have lots of high-end 80s material I would think eMovie might be a better venue -- especially as of late. 

largely correct and yes Matt, my fee is a straight 25% but I do have minimum requirements (I am no longer taking anything inexpensive at all, unless it is balanced very expensive material)
if you have cheap posters to sell, you only have 2 options, one is selling them yourself and may actually net you more money than your other choice. You just have to work for it

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Offline crowzilla

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Re: Auction House Practices
« Reply #49 on: December 09, 2014, 05:40:39 PM »
if you want to negotiate fees, you better have some top-notch expensive stuff
They aren't going to reduce fees for a Revenge of the Jedi one sheet, though a CFTBL "may" get a reduced fee.
You would almost certainly be able to get fees reduced for an Action Comics #1

When did Heritage raise their seller's fee from 15% to 20%?
Don't think you will get a reduced fee for CFTBL.
For an Action #1 you would get no seller's premium and a % of the buyer's premium - but that is a more competitive marketplace than posters.
Remember, Bruce has never sold even a single poster for $100,000.
Heritage gets all the top posters and there is a reason they do.
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