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New Online Auction - Private Collection
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<blockquote data-quote="Ahall" data-source="post: 4304045" data-attributes="member: 49426"><p>Auctions are an interesting psychology - you go looking for a deal and walk away paying more than anyone else would.</p><p></p><p>Gavel price Final bid</p><p>Buyer's premium Percentage of gavel price paid by the buyer to the auctioneer for their services.</p><p>Sales tax Percentage of gavel price and buyer premium paid to Uncle Sam</p><p>Credit card fee Percentage of gavel price, buyer's premium, and sales tax. </p><p></p><p>Your cost Gavel price * Buyers Premium * Sales tax * Credit card fee + Shipping + transfer from your dealer.</p><p></p><p>It's not hard for the fees to add up to 1/4 to 1/3 of the gavel price or more.</p><p></p><p>Don't get to hung up on how the money gets divided up after it leaves your hands. </p><p>Thats someone else's problem.</p><p></p><p>Do the math and know where your gavel price needs to be if you're going to buy an item for what it's worth to you. </p><p></p><p></p><p>Do your homework.</p><p>Read the terms and conditions for the auction.</p><p>Know what is in the lot and how its being sold (item, choice, times the money, etc.)</p><p>Know what it's worth to you.</p><p>Do not get emotional or competitive.</p><p>Figure your top bid in advance and do not exceed it.</p></blockquote><p></p>
[QUOTE="Ahall, post: 4304045, member: 49426"] Auctions are an interesting psychology - you go looking for a deal and walk away paying more than anyone else would. Gavel price Final bid Buyer's premium Percentage of gavel price paid by the buyer to the auctioneer for their services. Sales tax Percentage of gavel price and buyer premium paid to Uncle Sam Credit card fee Percentage of gavel price, buyer's premium, and sales tax. Your cost Gavel price * Buyers Premium * Sales tax * Credit card fee + Shipping + transfer from your dealer. It's not hard for the fees to add up to 1/4 to 1/3 of the gavel price or more. Don't get to hung up on how the money gets divided up after it leaves your hands. Thats someone else's problem. Do the math and know where your gavel price needs to be if you're going to buy an item for what it's worth to you. Do your homework. Read the terms and conditions for the auction. Know what is in the lot and how its being sold (item, choice, times the money, etc.) Know what it's worth to you. Do not get emotional or competitive. Figure your top bid in advance and do not exceed it. [/QUOTE]
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