Posted by Shovelman on September 14, 2007 at 18:14:13 from (68.191.57.27):
In Reply to: Some auction questions posted by John N Mi on September 14, 2007 at 11:08:07:
I refuse to attend any auction that charges a buyer"s premium. Luckily, the best (and incidentally, one of the most successful) auctioneers in our area refuses to penalize his buyers with such nonsense.
He states on his website:
"NO BUYER"S PREMIUM MAXIMIZES SELLER PROFITS Most auctioneers charge a premium to both buyer and seller. Auctioneer Phil Jacquier, Inc. is unique in not imposing a buyer"s premium. While this results in a slightly higher seller"s fee, the end result is historically higher bid prices and profits for the seller. Buyer"s come to auctions to buy, but having to add premiums to their bids as they keep pace with the rapid action can cause them to hesitate or even stop bidding. With no buyer"s premiums to distract and intimidate, they are free to continue bidding to the very highest levels."
This guy has a heck of a following and packs every auction. There are some deals to be had at his auctions, but generally he gets top buck for what he sells.
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