doublegunshop.com - home Forums General Discussion DoubleGun BBS @ doublegunshop.com Auctions-Buyers Premiums

Do onsite bidders pay a lesser(or no)buyers premium compared to online bidders. I'm getting beat to hell on every auction I bid on but can't run half way around the nation to attend.

Thanks,
Ken

I find nearly all auctioneers, even small local ones, charge buyers premiums on all sales these days. Whether & how much additional they charge for remote bids(online/phone/left) is up to them and is required to be available in advance posted in their terms of sale.

Additional costs for on-line bidding: In many cases answer is yes depending on their own fee schedules (available on the auction house website) & those of the site who handles their online auctions. Depending on whether you are a recognized dealer or not and where the sale is being held you may also incur additional taxes/costs (city/county/state/ country, VAT, etc.)on the total bid. if the item would need to be imported additional customs/excise fees may apply.

I frequent some estate & antiques auctions near me for general merchandise as a private individual (as opposed to state registered reseller). One local auction house charges me 15% buyers premium on winning bids in person. That goes to 23% if I bid online (Phone and "left" bids may differ). They use one of the online auction/bidding providers for their online customers which I believe charges you an additional 3%-5% on the winning bid. add 8% local state sales tax if not a registered reseller (if NYC add city/state/etc to that).

Some auction houses may also have differing rules/fees on whether you pick-up the item yourself or have to shipped to you.

Even when bidding on-sight as a non-dealer for unrestricted items I have to consider roughly additional 24% to my order to keep in touch with reality.

A "great value" can easily add up to an unpleasant surprise if you don't practice "due diligence" by researching all rules/regulations/restrictions/conditions/costs in advance.

Thanks Lee!

What is the gist of this statement?

"This auction company has requested and been granted access to see all bids placed including any maximum pre-bids. This auction is permitted to engage in this activity by providing this clear disclosure to you, the bidder."

I am sketical of someone viewing my maximum pre-bids.

Bad business to shout to the World what a max bid will be. Too easy to have shill bidders to run up the price to just below your final max bid. I would not get into such a scheme.

Rules such as those are not made for your benefit. It is hard enough to work with vauge descriptions, marginal pictures, questions answered us such a vauge way it is like talking to Bill Clinton. Is it cracked? Well that depends on your definition if a crack.

There are enough places to spend my money that I refuse to piss it away at bad auctions. Pass and be happy because no matter how poorly run no auction wants to admit the mistake is theirs or refund all your mo ey.

In the three times I was successful in online auctions.1 time
from Reta Pass and twice from RIA. My max bid out of six raises was the one selected. Never won even one step down. When I submitted a lone bid I have never been successful. Maybe just a coincidence??
They love Me, My motto is buy high and sell low. Just hope my wife doesn't sell them after I'm gone for what I told her I paid for them .

The three major online bidding services charge 3% over the buyer's premium charged by the house.

Why bother with a online bidding service, do a phone bid !

The only advantage a non attendee might have is no sales tax ( for the states that charge them-non here in NH),and many times I have had to remind them when charged.

If I don't attend the auction I find phone bidding works best.The ones I attend charge the same for in-person or phone (or left bids)which is now 15% unless you us a cc

Most of you have hit upon the reasons I basically have quit participating in auctions. As far as I'm concerned auction houses are just a rip off any more.
This "buyers premium" gouging was started many years ago by the big houses such as Christies, Park Bernet etc. Now Barney's corner auction company is doing it. You would think that they would have lowered the percentage charged to sellers with this charge to the buyers but it still runs between 10 and 20%.
Greed pure and simple.
Jim

A few years ago they ( the big players in guns)were all 10%,then the 0 % sellers premium (usually for a large collection)started and to compete for the big collections they all had to go higher and the 15% (or more) is now standard.

I just bid as high as I want minus 15%,one way or the other they have to get their money to run the auctions.I go,or phone bid to several ever year and sometimes I get something for a good price sometimes I go away with nothing but enjoy the day (s) spent.

Dave, the advantage of online bidding is that you can follow he auction on the computer and pick up on bargains as they come up. As far as putting in a "left bid" to save the 3%, that's fine if it's an item you just have to have and trust the house to actually place your bid. If it's an item I have to have, I will push the button myself and pay the 3%.