OMG record storage boxes !

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epigramophone
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Re: OMG record storage boxes !

Post by epigramophone »

clevelander wrote:I started attending a local auction house in the late '60s when the buyer's premium was 2 ½% (1/- in the £)
This meant , in old money, that you bid in pounds but paid in guineas.
Since the value of lots has increased dramatically over the last fifty years, why has the premium been raised so drastically?.

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jboger
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Re: OMG record storage boxes !

Post by jboger »

I've followed the comments here with some interest. I too remember when auction houses did not charge a buyer's premium. I think the change occurred back in the Eighties. So it's been awhile and I've grown accustomed to it. I can certainly understand charging the consignor a fee. After all, the auction house provides a service. It's not clear to me what service is provided to me as a buyer. It strikes me as akin to a store charging me an entrance fee just to shop. But as someone has commented, I just adjust my maximum bid to compensate for the buyer's premium. It was also about the same time (1980s) that flea markets and antique shows started to charge the public an entrance fee. That I still don't like. I guess the argument is that it lowers the dealers overhead and that benefits me. I fortunately live in an area where there are a multitude of auctions every day, especially on the weekends. The buyer's premiums is almost always 10%, with some exceptions. One place charges 5%, and I know of one--a more pretentious auction house--that charges 16%. However, there are some that charge no buyer's premium and I've been to a few that did not charge sales tax either. That I like.

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Orchorsol
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Re: OMG record storage boxes !

Post by Orchorsol »

jboger wrote: It was also about the same time (1980s) that flea markets and antique shows started to charge the public an entrance fee. That I still don't like.
I can certainly understand that, but speaking as someone who regularly has an antiques fair stall, right next to the entrance (playing 78s all day), I can offer a small insight. My usual one charges £1 per adult. My feeling is that for the most part, people who might be genuinely interested in buying something don't mind. Those who do are mostly people who only want a look around for the spectacle. They are also much more likely to be careless, knocking things with backpacks, out of control children, etc etc. Just my penny's worth, ha ha!
Apologies for thread drift...
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Re: OMG record storage boxes !

Post by jboger »

Orchosol: I can understand that. I understand some members of the public steal small items or parts from things like lids and caps, and still others switch price tags in the hopes the seller won't know. I think all of that is terrible, and so if my entrance fee helps offset some of that or lowers the cost of doing business, then that's good.

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