Buyer's premium.

Spink have just increased the buyer's premium at their auctions to 20%, up
from 15%.

The only reason I can think of is GREED.

With ever increasing prices being reached at auction their take was already
on the increase so it's not as if their profits were on the way down.

The extra 5% does of course come out of the seller's pocket as bidders allow
for the addition of the buyer's premium when they bid.

They get 15% from the seller so they now get 35% of the hammer price. It's
possible to negotiate the seller's % for large or very valuable collections.

They are the ebay for the auctioning of banknotes in the UK so they probably
think that they can do as they wish, they may be correct. Billy

In a recent message "note.boy" wrote:

Spink have just increased the buyer's premium at their auctions to 20%, up
from 15%.

Is it not just the intial few thousand? Expensive items are not so much affected.

The only reason I can think of is GREED.

With ever increasing prices being reached at auction their take was already
on the increase so it's not as if their profits were on the way down.

The extra 5% does of course come out of the seller's pocket as bidders allow
for the addition of the buyer's premium when they bid.

They get 15% from the seller so they now get 35% of the hammer price. It's
possible to negotiate the seller's % for large or very valuable collections.

They are the ebay for the auctioning of banknotes in the UK so they probably
think that they can do as they wish, they may be correct. Billy

I asked a friend who works for Spink about buyer's premium.

It is used because an important vendor can negotiate the seller's premium
down, sometimes to zero if the company is keen to get the sale. The buyer's premium
is never negotiable.

With VAT on top there is not a lot left for the customer.

--
Tony Clayton
Coins of the UK : http://www.coins-of-the-uk.co.uk
Sent using RISCOS on an Acorn Strong Arm RiscPC
.... Captain, the UARTs won't take this Speed!

"note.boy" wrote:

Spink have just increased the buyer's premium at their auctions to 20%, up
from 15%.

The only reason I can think of is GREED.

With ever increasing prices being reached at auction their take was already
on the increase so it's not as if their profits were on the way down.

The extra 5% does of course come out of the seller's pocket as bidders allow
for the addition of the buyer's premium when they bid.

They get 15% from the seller so they now get 35% of the hammer price. It's
possible to negotiate the seller's % for large or very valuable collections.

They are the ebay for the auctioning of banknotes in the UK so they probably
think that they can do as they wish, they may be correct. Billy


It's a sellers market at this time.

When the market cycles down, and it will, then it will be a buyer market
and buyers premiums will return to 8% or 10%

JAM

"note.boy" wrote:

Spink have just increased the buyer's premium at their auctions to 20%, up
from 15%.

The only reason I can think of is GREED.

With ever increasing prices being reached at auction their take was already
on the increase so it's not as if their profits were on the way down.

The extra 5% does of course come out of the seller's pocket as bidders allow
for the addition of the buyer's premium when they bid.

They get 15% from the seller so they now get 35% of the hammer price. It's
possible to negotiate the seller's % for large or very valuable collections.

They are the ebay for the auctioning of banknotes in the UK so they probably
think that they can do as they wish, they may be correct. Billy

The higher the buyer's premium, the lower my bid. If I am willing to
pay $100 for a
coin, I factor in shipping charges and buyer's premiums. Sure, I don't
win as many
auctions that way, but I refuse to make the middleman rich. Plenty of
dealers out
there willing to cut a deal on prices.

"Bill Dunkenfield" wrote in message
...
"note.boy" wrote:

Spink have just increased the buyer's premium at their auctions to 20%,
up
from 15%.

The only reason I can think of is GREED.

With ever increasing prices being reached at auction their take was
already
on the increase so it's not as if their profits were on the way down.

The extra 5% does of course come out of the seller's pocket as bidders
allow
for the addition of the buyer's premium when they bid.

They get 15% from the seller so they now get 35% of the hammer price.
It's
possible to negotiate the seller's % for large or very valuable
collections.

They are the ebay for the auctioning of banknotes in the UK so they
probably
think that they can do as they wish, they may be correct. Billy


It's a sellers market at this time.

When the market cycles down, and it will, then it will be a buyer market
and buyers premiums will return to 8% or 10%

JAM
================
Some years ago, the standard buyers' premium at large auction house sales
was 10 percent. IIRC, the sellers' premium was also 10 percent. Sometime
in the 90's,
the auction houses raised the buyers' premium to 15 percent and allowed
the sellers to negotiate down to a 5 precent fee per lot. When eBay became
one of the
venues used by large auction houses, the 15% became 20% if eBay was used.
HTH
Aram.

In article ,
wrote:

[snip]

I asked a friend who works for Spink about buyer's premium.

It is used because an important vendor can negotiate the seller's premium
down, sometimes to zero if the company is keen to get the sale. The buyer's
premium is never negotiable.

With VAT on top there is not a lot left for the customer.

Actually, for significant consignments, a consignor can sometimes
negotiate a negative commission from the auction house. The
consignor might get 105 to 110 perzent of the hammer price,
with the auction house's selling commission netting out to be
the buyer's premium less the consignors "hammer premium" ...

--
Ken Barr Numismatics
P. O. Box 32541 website: http://www.kenbarr.com
San Jose, CA 95152 (souvenir cards, MPC, Hickey Bros tokens)
408-272-3247 Next show: NCNA Fremont CA 03/31- 04/01 (w/ Mac's Coins)

On Thu, 29 Mar 2007 16:27:29 GMT, "note.boy"
wrote:

Spink have just increased the buyer's premium at their auctions to 20%, up
from 15%.

This makes Spink the highest priced numismatic auction house in the
world, I believe. It used to be Elsen, with it charging an 18 percent
buyer's premium while everyone else charged 15 percent.

Businesses will charge whatever they can. If consumers pay, auction
houses will continue to raise fees, as they have. Not all consumers
are rational, and not all bidders factor in the higher premium when
bidding. It's part psychology, the same psychology that makes an item
priced at $99.99 seem a lot less expensive than one priced at $100.00
even when they're effectively the same price. A coin that comes with a
20 percent buyer's fee that I need to bid $145 on to win seems a
better deal, at least at some level of subconsciousness, than a coin
with a 15 buyer's fee that I need to bid $150 on. The higher buyer's
fees add up with pricier or multiple items.

--

Email: (delete "remove this")

Consumer: http://rg.ancients.info/guide
Connoisseur: http://rg.ancients.info/glom
Counterfeit: http://rg.ancients.info/bogos

"Bill Dunkenfield" wrote in message
...
"note.boy" wrote:

Spink have just increased the buyer's premium at their auctions to 20%,
up
from 15%.

The only reason I can think of is GREED.

With ever increasing prices being reached at auction their take was
already
on the increase so it's not as if their profits were on the way down.

The extra 5% does of course come out of the seller's pocket as bidders
allow
for the addition of the buyer's premium when they bid.

They get 15% from the seller so they now get 35% of the hammer price.
It's
possible to negotiate the seller's % for large or very valuable
collections.

They are the ebay for the auctioning of banknotes in the UK so they
probably
think that they can do as they wish, they may be correct. Billy


It's a sellers market at this time.

When the market cycles down, and it will, then it will be a buyer market
and buyers premiums will return to 8% or 10%

JAM

I've been waiting nearly 20 years for the market for Scottish notes to cycle
down.

Astonishing auction prices for Scottish notes of 5 to10 years ago now look
like bargains. Billy

"Jud" wrote in message
oups.com...

"note.boy" wrote:

Spink have just increased the buyer's premium at their auctions to 20%,
up
from 15%.

The only reason I can think of is GREED.

With ever increasing prices being reached at auction their take was
already
on the increase so it's not as if their profits were on the way down.

The extra 5% does of course come out of the seller's pocket as bidders
allow
for the addition of the buyer's premium when they bid.

They get 15% from the seller so they now get 35% of the hammer price.
It's
possible to negotiate the seller's % for large or very valuable
collections.

They are the ebay for the auctioning of banknotes in the UK so they
probably
think that they can do as they wish, they may be correct. Billy

The higher the buyer's premium, the lower my bid. If I am willing to
pay $100 for a
coin, I factor in shipping charges and buyer's premiums. Sure, I don't
win as many
auctions that way, but I refuse to make the middleman rich. Plenty of
dealers out
there willing to cut a deal on prices.


I factor in the buyer's premium but not the postage charge. Billy

On Mar 30, 9:17 am, Reid Goldsborough
wrote:
...... Not all bidders factor in the higher premium when bidding.

How does a buyer know what premium the seller pays? Is this just with
Spink, or does Ebay do this too?

Kathy