Why The 50 Percent Jump In Buyer's Premium?

[Vintagedeputy]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

See ya!

[3arod13]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

Your last, and first auction had a 10 percent buyer's rape.

Why the 50 percent increase on this auction?

15 percent may be among the lowest buyer's rape in this business, as you state, but to add another 15 percent onto a bid, I assume at both ends, is still ridiculous.

I guess I will continue to shop eBay.

Sammy, your question is a valid one. However, I always notice when someone asks a question with a sarcastic tone to it, or even comes across as attacking someone with their question, people don't take it kindly and are ready to pounce back, and everyone loses focus of the question.

[both-teams-played-hard]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

In the words of the late, great Coach Bobby Knight:
"If you are being excessively surcharged by an auction house; then lie back and enjoy it."

[aeneas01]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

I asked a viable, legitimate question.

bull - you disrespectfully demanded information and then stated you will continue to do business elsewhere.

[Vintagedeputy]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

In the words of the late, great Coach Bobby Knight:
"If you are being excessively surcharged by an auction house; then lie back and enjoy it."

Bobby Knight is dead?

[nyjetsfan14]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

It is so funny when smart people get mad. You gentlemen are good...I'd have to spend hours sifting through a dictionary to write so eloquently but yet so angry at the same time (not to mention get the spelling correct)! Anyhow, not taking sides but I personally believe a buyers fee makes absolutely no sense. I can almost understand, with my uneducated neanderthal mind, a seller fee due to services rendered in marketing/promoting ones item but a buyers fee? I never utiilize auction houses because I feel (and this is only personal opinion) greed and envy force fraud and insane prices for clothes other men have worn accomplishing things the collectors have not. With that being said, I do know they do not miss my business and neither will the GUU auction. Profit will be made and record prices will be set which is perfectly ok - that's the beauty of a free market economy. I do look forward to the for sale section coming back (and no I am not whining) and I too enjoy e-Bay (minus the bogus items) because once in a while one can actually correspond and develope a relationship with fellow fans and collectors and maybe even - gasp - TRADE! This is a "hobby" and hobbies are supposed to be fun but for me (and again I only speak for myself) auctions with their associated fees (which I feel are over the top) drain the fun part from the hobby. I think some feel GUU should be above such things but when it comes to dead presidents very few are ever above anything.

[ndevlin]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

Jetsfan, I believe that was well said. I agree with you for the most part.

[Jags Fan Dan]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

That is the beauty of a free market economy. Bid or don't bid. It's a personal choice. If I found an item I wanted in the GUU auction, I would bid accordingly, factoring in the extra 15% premium. The fact is, the openness with which this auction is run and the scrutiny that each item is under by so many informed members probably should warrant a price that is above other auction houses. As stated by others, the information on this site is very valuable and available for free, so I certainly don't begrudge the owners of the site for profiting from knowing and willing bidders.

I guess the beauty of a free market economy is it is self-regulating as to market values. If an auction company jacked the premium above market value, you can bet that it would be reflected in the bidding (or lack thereof) and the auction would not be a success.

[sammy]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

Here is what is amusing about this attitude some people now have in regard to the term I use for the increase in fees.

I have been using that term, on this site, since 2006 in regard to the increase in fees charged by other auction houses.

Not one person has complained, including you Chris, until now, and you have actually posted right there with me.

No one, including all you people that seem to be offended now. Where was this holy attitude before when I was slamming other auction sites about these increases.

Is it because I now have used the term in a description of this site?

Condemnation and abuse to the pot that calls the kettle black.

http://www.gameuseduniverse.com/vb_forum/search.php?searchid=188055

[ChrisCavalier]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

The fact is, the openness with which this auction is run and the scrutiny that each item is under by so many informed members probably should warrant a price that is above other auction houses. As stated by others, the information on this site is very valuable and available for free, so I certainly don't begrudge the owners of the site for profiting from knowing and willing bidders.

Thank you for your comments Dan.

The fact of the matter is, while the auctions are designed to be profitable on some level, the fees associated with an auction exist largely because of the costs involved. There are costs that I am sure many people never consider. They include, but are not limited to, costs to evaluate items, costs to market the items through trade shows, advertising and mailings (our brochure went out to 4,000 people), photography costs, design costs, insurance costs (yes we have insurance for all items while they are in our possession), the cost of the custom software we built so questions can publicly be asked and answered as seamlessly as possible, not to mention the time committed to actually conduct the auction (posting images, taking bids, answering questions so bidders can feel comfortable about what they are buying, etc.).

As mentioned by others in this thread, I believe our 15% buyer's premium is among the lowest in the industry. This is despite all the things Dan (Jags Fan) mentioned in his post above. Our consignment fee for this auction was also among the lowest in the industry at 10%. Again, while we charge fees to allow us to run the auctions and make these great items available to collectors, we are trying to keep them lower than the market rate despite all we offer.

Sammy, you can feel free to bid in the auctions if you like or you can chose not to do so. However, I have to agree that your reference to the fees as "Rape" is both inappropriate and unwarranted. The term "Rape" connotes something terrible that is forcibly thrust upon an unwilling participant. Besides the fact that the use of the term conjures images that are really not welcome of this site, it is also a very inaccurate analogy that doesn't recognize the reason for its existence.

Sincerely,
Chris

[Dewey2007]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

The 15% buyers fee seems pretty standard for all auction houses but the additional .0825 sales tax for CA residents on any auction purchase is an extra kicker. That's like having to pay a mini hammer fee on top of the standard one.

Any reason that only CA residents are being punished w/ this sales tax charge? I take it this auction is being operated in CA? Is sales tax standard for residents of the state where any particular auction is taking place?

[ChrisCavalier]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

The 15% buyers fee seems pretty standard for all auction houses but the additional .0825 sales tax for CA residents on any auction purchase is an extra kicker. That's like having to pay a mini hammer fee on top of the standard one.

Any reason that only CA residents are being punished w/ this sales tax charge? I take it this auction is being operated in CA? Is sales tax standard for residents of the state where any particular auction is taking place?

Hello Dewey,

California residents need to pay the sales tax because we are a California corporation and legally we are responsible for collecting sales tax for sales within the state. I think the same is true for other auction houses although their sales tax will apply to the residents in the state in which they do business. The money does not go to us, it goes to the state of California.

However, if you possess a valid California resale number (seller's permit) you can provide that to us and not have to pay the sales tax.

-Chris

[Dewey2007]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

Chris, no problem and very understandable. I figured that was probably the case with the sales tax charge. To bad I live in CA for this particular auction!

I also realize that you guys aren't going to keep any of the sales tax or else you'd have future issues with the Governator wanting his money.

Thanks for the taking the time to answer my question.

Dewey

[cohibasmoker]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

IMO, I don't have a problem with the Buyers fees BUT, do you really think it was a wise decision to post ads in SCD?

Jim

[ChrisCavalier]

Re: Why The 50 Percent Jump In "Buyer's Rape"?

IMO, I don't have a problem with the Buyers fees BUT, do you really think it was a wise decision to post ads in SCD?

Hello Jim,

We actually spent a good deal of money advertising our auction for two reasons. They are:

1) We want to make sure collectors who are looking for quality merchandise are aware of the items in our auction, and

2) We feel we have an obligation to our consignors to do all we can to promote their items.

We advertised in SCD, as well as other venues in the hobby, and even sent our brochure out as in insert in the SCD publication. Although it wasn't cheap, our brochure was sent to their almost 16,000 subscribers in addition to the ones we mailed out directly.

While we certainly could have saved money by not advertising, at this stage we did not feel that would be in the best interest of our consignors or the collectors who are looking for the types of items we are offering.

Truthfully, I was very disappointed when I read a recent SCD article that talked about different approaches to validating items in auction and it didn't even mention GUU's model despite the fact that I think ours is the best, and most noteworthy, in the industry. While I was personally disappointed/mystified that we weren't included, I didn't let my personal feeling get in the way of trying to inform as many collectors as possible about what we are doing.

Are you suggesting we should do otherwise?

Sincerely,
Chris