Posted by steve terplak on April 02, 2011 at 19:15:03 from (67.142.168.21):
was at a general auction today...1 tractor there...tools, cars, some heavy equipt.... had a 13% buyer's premium for cash/check (w/ bank note) 16% for credit card on top...there is a consignment fee as well 50% items $1-$10 35% items $11-100 25% items $101-500 20% items 501-999 15% items $1001-5000 10$ items $5001+
over the first 200 lots...he sold $60,000 on items that cost between 1,000 and 5,000 probably sold $175,000 in those first 200 lots
still had 600 lots to go...
must have been a good day for him...i understand there is a lot that goes into running such an affair and i do not begrudge him for what he charges...i am just posting because i am suprised at how high the consignment fee is...on top of the buyer's premium...naively i thought most people charged one or the other...
makes me thankful for our local tractor guy who has no buyers premium and does an 8-10% consigners fee...
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