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LMAO!!! Auction Premiums.

Posted By: Steven C.

LMAO!!! Auction Premiums. - Wed Aug 28 2019 08:57 AM

I see Morphy's squeaked out another percentage point!!! LOL!!! Up to 26% now on their latest auction!! How long until we see 30%??? Ridiculous!!!!
Posted By: Old Racer

Re: LMAO!!! Auction Premiums. - Wed Aug 28 2019 12:42 PM

As long as there are people stupid enough to pay it they will keep raising it. Just like the old saying whatever the traffic will bear.
Posted By: BryceG

Re: LMAO!!! Auction Premiums. - Wed Aug 28 2019 07:15 PM

it is their way of trying to realize the full 20% premium as profit. they charge 20% BP + 3% Credit Card + 3% Third Party Fees... so that is how it comes to 26%. If you pay by check and bid using their platform, then its 20% still.

I have noticed many of the other regular sign auction companies have increased to 18% now. its all a bit crazy, but I suppose you just have to consider it in your bids. just bought a sign from Aumann's last week, it was 5% premium... felt fantastic about that, lol.
Posted By: Done4

Re: LMAO!!! Auction Premiums. - Wed Aug 28 2019 07:25 PM

Yup don't like it but when you think of the process to create an auction, many steps, getting the collection, photography, people, on line bidding set up, packing and shipping it sort of makes sense. I think this will deter many bidders especially on line. I know I'm out.
Posted By: Craig Osbeck

Re: LMAO!!! Auction Premiums. - Wed Aug 28 2019 08:45 PM

Yes, way to high of fees. Notice the pumps in auctions have not seen their potential from shipping, fees, and what have you. I have not bought at auction now for about 3 years unless I go their. Oh well, there are still plenty of big dollar guys willing to pay.
Posted By: TN Volunteer

Re: LMAO!!! Auction Premiums. - Wed Aug 28 2019 09:37 PM

Don't forget the seller has to pay a percentage as well...
Posted By: lancelot75

Re: LMAO!!! Auction Premiums. - Sat Aug 31 2019 01:37 PM

I agree with all the posted sentiments regarding the fees that some auction houses are charging on winning bids. At this point I prefer to pay with cash as I will take the item with me after the auction is over.
Posted By: Douglashwy

Re: LMAO!!! Auction Premiums. - Sat Aug 31 2019 02:03 PM

After the 23% that I paid in the Iowa Gas auction. I was charged another 330$ for shipping. That was for 1 sign and 2 cans. There was no estamated shipping cost so really you're in the dark with this and stuck paying it or they put your purchase in a lockup and charge rent till you get it.
Posted By: Steven C.

Re: LMAO!!! Auction Premiums. - Sat Aug 31 2019 06:40 PM

Originally Posted by Douglashwy
After the 23% that I paid in the Iowa Gas auction. I was charged another 330$ for shipping. That was for 1 sign and 2 cans. There was no estamated shipping cost so really you're in the dark with this and stuck paying it or they put your purchase in a lockup and charge rent till you get it.


Holy *****!!! Do you live at the north pole??

On another note, How long before we see 30%??
Posted By: Douglashwy

Re: LMAO!!! Auction Premiums. - Sat Aug 31 2019 11:51 PM

I guess that's the price to the west that I 80 is the most boring ride from Iowa to Salt Lake🤪
Posted By: Gasman84470

Re: LMAO!!! Auction Premiums. - Sun Sep 01 2019 05:32 AM

You know I agree whole heartedly with Steve's sentiments but sometimes you just have to go to the mountain/auctioneer and collect what you want from the auction because that is the one and only time you're going to get a chance at that article that you have to have. And so you buy it and pay the, ..... gulp, 30%!
And that's why they can do it! See you at Morphys😜
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