I don't like the high BPs either but I have a somewhat different perspective. When I go to an auction, I know what I am willing to pay for an item out the door. I therefore adjust my max bid based on the BP. If I'm willing to pay $500 and the BP is 25%, then I'll bid as high as $400. If its only 10%, then I'll go up to about $450. In a perfect world, the other buyers would have the same strategy.
This puts the onus on the consignors to put a halt to these BP increases, since they're more impacted. Higher BPs should mean lower hammer prices,which cuts into their take-home.
Of course this theory goes to hell when you have a couple knuckleheads with deep pockets show up who ignore the BPs and are willing to pay whatever it takes. Joe
