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Guess which auction site has just eliminated the buyer's fee?

Started by EVillageProwler,

17 posts in this topic

EVillageProwler

EVillageProwler

Posted
Posted

Answer: DLRC.

 

I've always felt that the buyer's fee was unnecessary. It was either easy to calculate (and bidders would simply adjust accordingly), or it would be awkward for some (and potentially drive a small percentage of bidders away). The staggered buyer's fee, based on purchasing amount, was a real slap in the face of the modest players. That POSSIBLE extra 2.5% makes it VERY difficult to calculate how much to bid for those in the real world with an actual budget.

 

Nice job, Mr. Feigenbaum.

 

EVP

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MarkFeld

MarkFeld

Posted
Posted

Sorry, Steve, that's not really new news.

 

Regardless, it's not the buyer's fee that is important. But rather, what the buyer's fee and seller's fee added together is, AND what % of hammer the seller gets.

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Walkerfan

Walkerfan

Posted
Posted
Sorry, Steve, that's not really new news.

 

Regardless, it's not the buyer's fee that is important. But rather, what the buyer's fee and seller's fee added together is, AND what % of hammer the seller gets.

 

My guess is they upped seller's fees to balance the loss of income.

 

I wondered that very thing, as it is quite likely

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L1ncolnF4n

L1ncolnF4n

Posted
Posted

It's an interesting conundrum.

 

On the one hand: buyers may/will adjust their high bids to reflect high BP's. This results in the seller getting a lower hammer than they would have without a high BP. High BP offers the option to give seller's more of their coins' hammers.

 

On the other hand: sellers don't want to sell somewhere that offers them 80% of hammer when they could get 90% or more elsewhere. The issue is: when you offer lower seller's fees, BP's are higher to keep margins up.

 

Double-edged sword.

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brg5658

brg5658

Posted
Posted
Sorry, Steve, that's not really new news.

 

Regardless, it's not the buyer's fee that is important. But rather, what the buyer's fee and seller's fee added together is, AND what % of hammer the seller gets.

 

My guess is they upped seller's fees to balance the loss of income.

 

And do you know that for a fact? I'm sure your opinion isn't biased in any way since you work for Stacks? :devil:

 

....who recently raised their buyer's fee to a whopping 17.5%. :o

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MarkFeld

MarkFeld

Posted
Posted
Sorry, Steve, that's not really new news.

 

Regardless, it's not the buyer's fee that is important. But rather, what the buyer's fee and seller's fee added together is, AND what % of hammer the seller gets.

 

My guess is they upped seller's fees to balance the loss of income.

 

And do you know that for a fact? I'm sure your opinion isn't biased in any way since you work for Stacks? :devil:

 

....who recently raised their buyer's fee to a whopping 17.5%. :o

 

I didn't realize that the poster to whom you replied works for Stack's-Bowers. If that is the case, it seems like bad form to comment/speculate about a competitor's fees, and not state facts.

 

I found this on the DLRC site:

 "The consignor will receive 85% of the final realized price in auction", under "Web Auction Consignment · Terms & Conditions".

 

I don't know what the % was prior to the elimination of the buyer's fee.

 

I also found this on a different page on their site:

"For our Standard consignment agreement a final realization of 80-85% of the final price realized. Depending on the value of the collection, higher hammer realizations can be negotiated. "

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brg5658

brg5658

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I dont really see DLRC as an auction company. When I see a coin I like I call them up and negotiate.

 

They have regular auctions on their website, not just "buy it now" type coins.

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dimefreak

dimefreak

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Posted
I dont really see DLRC as an auction company. When I see a coin I like I call them up and negotiate.

 

They have regular auctions on their website, not just "buy it now" type coins.

Auctions can be ended early.... call and ask

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DirtyGoldMan

DirtyGoldMan

Posted
Posted
Sorry, Steve, that's not really new news.

 

Regardless, it's not the buyer's fee that is important. But rather, what the buyer's fee and seller's fee added together is, AND what % of hammer the seller gets.

 

My guess is they upped seller's fees to balance the loss of income.

 

I wondered that very thing, as it is quite likely

 

My thoughts are: LET'S CUT OUR PROFIT MARGINS! or just make it seem like we want you to bid on our newly upped seller's fees.

I'm with Mark and would go as far to say that if you are an employee of S-B, not related to one of the principles, and your employers see that you are publicly bagging on one of your dealer/auction competitors (who may also be a client and is certainly a large potential client), you could be in trouble for your remarks.

 

If I were you, I would hastily edit my comments before getting fired over them. Of course, if your last name is Bowers, Stack, Karstedt, Napolitano, etc., please carry on, and we will enjoy the show. :)

 

 

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EXOJUNKIE

EXOJUNKIE

Posted
Posted
Sorry, Steve, that's not really new news.

 

Regardless, it's not the buyer's fee that is important. But rather, what the buyer's fee and seller's fee added together is, AND what % of hammer the seller gets.

 

My guess is they upped seller's fees to balance the loss of income.

 

I wondered that very thing, as it is quite likely

 

My thoughts are: LET'S CUT OUR PROFIT MARGINS! or just make it seem like we want you to bid on our newly upped seller's fees.

I'm with Mark and would go as far to say that if you are an employee of S-B, not related to one of the principles, and your employers see that you are publicly bagging on one of your dealer/auction competitors (who may also be a client and is certainly a large potential client), you could be in trouble for your remarks.

 

If I were you, I would hastily edit my comments before getting fired over them. Of course, if your last name is Bowers, Stack, Karstedt, Napolitano, etc., please carry on, and we will enjoy the show. :)

 

 

Haha. Nice! (thumbs u

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MJ

MJ

Posted
Posted
Sorry, Steve, that's not really new news.

 

Regardless, it's not the buyer's fee that is important. But rather, what the buyer's fee and seller's fee added together is, AND what % of hammer the seller gets.

 

My guess is they upped seller's fees to balance the loss of income.

 

I wondered that very thing, as it is quite likely

 

My thoughts are: LET'S CUT OUR PROFIT MARGINS! or just make it seem like we want you to bid on our newly upped seller's fees.

I'm with Mark and would go as far to say that if you are an employee of S-B, not related to one of the principles, and your employers see that you are publicly bagging on one of your dealer/auction competitors (who may also be a client and is certainly a large potential client), you could be in trouble for your remarks.

 

If I were you, I would hastily edit my comments before getting fired over them. Of course, if your last name is Bowers, Stack, Karstedt, Napolitano, etc., please carry on, and we will enjoy the show. :)

 

 

Haha. Nice! (thumbs u

 

Ha! Extremely douchy. MJ

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coinman1794

coinman1794

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I dont really see DLRC as an auction company. When I see a coin I like I call them up and negotiate.

 

Actually, they have been running auctions for years, and I have grabbed some very nice material from them. Unfortunately, they have not kept up with digital photography's replacement of scanners in the coin industry, and I find their images hard to read anymore. I think they have been trying to promote their auctions more, in light of slower sales, and this is an excellent starting point for them, in addition to recently going back to free shipping. Im surprised anyone would complain over them simplifying the the antiquated process of adding buyers fees, especially in light of Heritage and others raisiing fees.

 

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coinman1794

coinman1794

Posted
Posted
Sorry, Steve, that's not really new news.

 

Regardless, it's not the buyer's fee that is important. But rather, what the buyer's fee and seller's fee added together is, AND what % of hammer the seller gets.

 

While I don't understand how this is possible, there are many people who, in one way or another, fail to factor the buyers premium into their bid, and are then surprised by it after they win. Eliminating the premium also makes it quicker and easier to bid, and it simplifies the seller's final take-home. I think simplicity is what they are going for.

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cpm9ball

cpm9ball

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Posted

To me, it appears to be a "darned if you do & darned if you don't" situation. The auction houses need consignors, but if they don't have any buyers, the consignors are wasting their time.

 

Chris

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