Hey everyone
I have seen for some time that the Buyers and Sellers premium for most Australian auction houses run at a combined 30% or around that mark.
Firstly 30% is awfully excessive I mean would a Real Estate Auctioneer take a 30% cut just to sell a house? The top auction houses Heritage and CNG (ancients) charge around 20-25% (sometimes even give cash advances, zero or negative sellers commissions) and they are international auction houses with far better infrastructure, auction archives etc etc.
Is it just the auction houses gouging the market? I mean I remember when it was 16.5% BP and then they all up it to around 19% (for goodness sakes it is a percentage not a flat fee that needs to be adjusted for inflation etc)
One of the only auction houses I would say deserves to charge more is Numisbid due to the consistent quality of Walter, the website and transparency.
Opinions anyone?
Going by the current auction house rates it makes ebay look pretty good
One of the only auction houses I would say deserves to charge more is Numisbid due to the consistent quality of Walter, the website and transparency.
Is that charge the buyer, seller or both :scratch_one-s_head:
Quote from: 'stevo1962' pid='76830' dateline='1438492484'Going by the current auction house rates it makes ebay look pretty good
Yeah,i think around 10% is fair although it takes a whack out of your sales.As i have posted before people quickly forget what it cost for a classified add in the Herald ,Age,CM etc. during their heyday.
I think charging 10% - 15% is fair play. It makes more sense to charge the seller than the buyer. At the end of the day you want the buyer to pay top dollar for the purchase. More buyers you attract, higher the sale price due to competition... However I think there should be a lower fee for the seller if the sale price is very hight. ( ie negotiated commission rate.. if a coin sells for $30,000, 5% is still a fair amount of money.
Quote from: 'ausproofs' pid='76854' dateline='1438496324'I think charging 10% - 15% is fair play. It makes more sense to charge the seller than the buyer. At the end of the day you want the buyer to pay top dollar for the purchase. More buyers you attract, higher the sale price due to competition... However I think there should be a lower fee for the seller if the sale price is very hight. ( ie negotiated commission rate.. if a coin sells for $30,000, 5% is still a fair amount of money.
For simplicities sake sellers commission is far easier and doesn't discourage buyers from their maximum bid by having to factor in buyers premium. I think buyers premium was made by some smart arse in the auction sector 'hey we already charge the person we sell for why don't we charge the person who buys it as well' or around those lines :P
yes sounds like double dipping to me :dodgy:
Here is an article from Walter.
http://www.numismatics.com.au/Blog/Buyer's_Premium_-_Why_we_will_never_charge_it
This explains it well...
postage is another killer as well so that's why I like getting coins at coin shows, you know what your paying there and then and can always haggle them down a bit where you can't buying at auction and also buying off places like Eric's is good as I can pay them off and that is a HUGE help when on the DSP other wise I'd never be able to afford nice coins.
Quote from: 'ausjack' pid='76871' dateline='1438503818'I like getting coins at coin shows, you know what your paying there and then and can always haggle them down a bit
Asked an interstate dealer for his best price on a coin at the Brissy ANDA a couple of years ago. He got a bit peeved and went all defensive on me so he did. Anyhow this year we were both back there and he had something I was really after, but so did another dealer around the isle. Guess who got the sale :whistle2:
:scratch_one-s_head: where the bloody hell were you, I was there ;) Maybe it's the beanie that scares them :laugh2: I don't really buy anything the first day, that's just for lookin and leave it as long as I can on the second and then ask as a lot don't want to be dragging coins all the way back home so they tend to play the game a bit more :)
I've never bought from an auction house auction, partly because every time I look a catalogue and see something I want, I do the sums and work out that with the buyer's premium it's just too much to pay. The very existence of buyer's premium does seem like double-dipping to me too.
I think I saw some information about Status International's seller's premium recently - as I recall it decreased as the final hammer price rose (or something like that) which seemed like a pretty reasonable thing.
Quote from: 'ausjack' pid='76909' dateline='1438550311':scratch_one-s_head: where the bloody hell were you,
Yeah I know we did speak of meeting up AJ, but I had been out of sorts a bit as my Sister had passed away in Sydney a few days before and was having trouble finding out info on the details. Anyhow I just slipped in for a short while a left. We can do it next time. :good:
Yeah all good mate I understand so see how we go next year, and even though it's a bit late you and your family have my most sincere condolences for your loss :heart: :friends:
Barry Cooper in Ballina held a Coin/Stamp Auction every 3 Months or so for nearly 20 years,no Buyers premium or charges of any kind,hammer price was it.
Whilst Stamps were probaly 70% of the catalogue he used to get some great Coins,he was a valuer for Insurance Co.'s,Police etc so had access to some large collections.
After his Wife died he closed the little shop and retired to SA to live with a daughter so hope he is still going OK.
Cheers AJ :friends:, so if I was to pick a beanie, which one would it be :fans: :P:laugh2:
The black mate :winkextra: I'll bring one with me for you to try :laugh2: I have all sorts :)
I even have the cops think I'm a bikie ;)
Ok here ya go auto, take ya pic. I think this is most of them besides the one I'm wearing..all types for different temperatures and even thermal one's and my fav's is one of the first I got, up in the top left, a RALF magazine one with a naked chick on it but you can't really tell :) and some will look familiar to some members as two members have given me 3 :friends: so I've got ya covered mate :yahoo:
(http://i57.tinypic.com/2uf59uh.jpg)
Heh, you sure have got one for all occasions AJ. Straight away I can see a burglar beanie, a bikie beanie, a down by the docks beanie, and there's one I reckon could pose as a smurf beanie :laugh2::laugh2::good:
Come to think of it, and not strictly related, Snow White was picking flowers in the woods when she heard sounds of commotion and distress from the direction of the house.
She could see fire and smoke billowing from her dwelling and her first thought was, the dwarves, the dwarves.
Stricken with panic she crashed out through the edge of the forest and into the clearing, and as she made her way closer to the house she could hear the chant, so and so (any team you dislike) to win the premiership, so and so to win the premiership.
With a sigh of relief she exclaimed, "thank God, at least Dopy is alive" :biggrin:
I have bought from various auction houses and have paid the extra 16% "Vigorish" in the past.
I now much prefer to use numisbid because of not only the 0% buyers premium but also because I get my coins delivered Way faster than any other Auction house :good:
From the drop of the hammer to delivery is normally 7-10 days , That is due to Aussie post not Numisbid as my winning lots are dispatched within a day of the ending of the auction.
NONE of the other auction mobs can match that :)
If you're bidding on Nobles coins live online it will be
plus 17.5% buyers premium
plus 3 % extra premium (for the invaluable privalege)
plus 10% on buyers and extra premium
plus $15 postage
plus 3% credit card fee
I baulked at the credit card fee and opted for direct deposit as you
have to draw the line somewhere because it's just plus plus plus
Quote from: 'stevo1962' pid='77032' dateline='1438687146'If you're bidding on Nobles coins live online it will be
plus 3 % extra premium (for the invaluable privalege)
plus 10% on buyers and extra premium
what are these two charges for Steve?
Quote from: 'robbiegal' pid='77033' dateline='1438687636'Quote from: 'stevo1962' pid='77032' dateline='1438687146'If you're bidding on Nobles coins live online it will be
plus 3 % extra premium (for the invaluable privalege)
plus 10% on buyers and extra premium
what are these two charges for Steve?
Sorry Robbie I should have explained it better
the 3% is an extra charge for their new live online bidding provider
called "Invaluable" and the 10% is GST on the buyers premium and
and the extra premium/charge
Quote from: 'stevo1962' pid='77034' dateline='1438688006'Quote from: 'robbiegal' pid='77033' dateline='1438687636'Quote from: 'stevo1962' pid='77032' dateline='1438687146'If you're bidding on Nobles coins live online it will be
plus 3 % extra premium (for the invaluable privalege)
plus 10% on buyers and extra premium
what are these two charges for Steve?
Sorry Robbie I should have explained it better
the 3% is an extra charge for their new live online bidding provider
called "Invaluable" and the 10% is GST on the buyers premium and
and the extra premium/charge
That is silly I know auction houses who give discounts on BP for bidding online? Certainly it would reduce time spent on going through postal bids, processing, etc by just going online bidding?
Thats the reason why I dont buy coins from Noble online anymore !
i think that nobles need the dough
Quote from: 'robbiegal' pid='77111' dateline='1438767378'i think that nobles need the dough
I think Nobles are just getting "Greedy" , Simple as that :angel::dodgy:
I buy at nobles as we only have one coin auction in NZ every year and it often does not have stuff I collect in it. It has been a week now since I won at the noble auction and still have not received an invoice to pay in the mean time the NZD keeps dropping so it is costing me more and more every day lmao. To make it worse I have to really pay by CC as I still cant find anyone who works at NAB to open me a Aussie account lol.
Quote from: 'NZCoinerrors' pid='77186' dateline='1438852101'I buy at nobles as we only have one coin auction in NZ every year and it often does not have stuff I collect in it. It has been a week now since I won at the noble auction and still have not received an invoice to pay in the mean time the NZD keeps dropping so it is costing me more and more every day lmao. To make it worse I have to really pay by CC as I still cant find anyone who works at NAB to open me a Aussie account lol.
Got my invoice on Tuesday so give them a call or send them an email as you should have had it by now
Got my invoice Tue. I paid it the same day and I got the coins today.
hmm now that is annoying normally takes them a week to 10 days to email me the inv then I pay same day CC and it takes them a week to ship it then about 10 days to get to NZ lol. So far I dont think the process has ever been under 4 weeks from the last day of the auction. I will give them a call tomorrow i think.
Quote from: 'NZCoinerrors' pid='77193' dateline='1438854467'hmm now that is annoying normally takes them a week to 10 days to email me the inv then I pay same day CC and it takes them a week to ship it then about 10 days to get to NZ lol. So far I dont think the process has ever been under 4 weeks from the last day of the auction. I will give them a call tomorrow i think.
Yes give them a call and tell them to pull their finger out
Quote from: 'NZCoinerrors' pid='77186' dateline='1438852101'I buy at nobles as we only have one coin auction in NZ every year and it often does not have stuff I collect in it. It has been a week now since I won at the noble auction and still have not received an invoice to pay in the mean time the NZD keeps dropping so it is costing me more and more every day lmao. To make it worse I have to really pay by CC as I still cant find anyone who works at NAB to open me a Aussie account lol.
Surely you have a heap of relo's livin in perth, on the goldie or manly/bondi :laugh2: sorry NZC I wanna be good but it's just so hard sometimes :angel:
I think you should come for a holiday and then you can open your own :) but make sure you get a return ticket :mocking: sorry sorry :blush2: You seem like a good sport so hope you don't mind me joking around, yeah I'm the class clown mate so please don't take offence :friends: