When bidding on coins in auctions that have a buyers premium do you take that into consideration when placing your bid, or do you what the coin is worth to you and not worry that there is a buyers premium added?
Of course I factor in the buyer's premium into the bids I will make. 17.5% of a bid is a significant fraction. I think the market value of the coin is the bid + the buyer's premium as that is the sell price. But I definitely factor that into the bid. If I thought a coin was worth $1000 to myself, I wouldn't bid more than $851 as $851*1.175 = $1000.
Sure you take it into account. Same with taxes and shipping. But just like auctions without BP's etc, with some coins the rulebook and checkbook is thrown out the window
As already said it's already added to most. I'll avoid most auctions that add it after purchase cost. Some are rediculously high 15% & more.
I would like to say I do, but honestly, I usually end up forgetting about it when bidding on something I really want. I mean, I know it's there, but I don't realize how much MORE it is until the auction ends.
I saw an auction with a 27% buyer's premium the other day. Round here it has crept up to around 20% as normal. I just bid that much lower. Whatever they call it, it is really another seller commission. Typically sellers are now paying 35% or more of the total sale price in commission. Whatever they do not get, however it is described, out of the total paid by the buyer, is the commission rate they are paying.
Yes I consider the buyers fee and shipping. Depending on what I am buying I price things at dealers, ebay and heritage. I do way more bidding on heritage than anywhere else.
If there's anyone that doesn't take the buyer's premium into consideration, I have some nice coins you can have for a very low price (plus buyer's premium).
It's total cost that counts to a buyer like me. With premiums of 17.5% being common these days, it starts to add up to real money with higher priced coins. It's a mistake for consignors to think the buyer's premium is just the buyer's problem. Might look that way at first glance, but it's really a shared cost because most buyers base their bidding on total cost of acquisition. A consignor gets only the hammer price. I've seen bids in auctions go higher than what equivalent coins are going for on Collectors Corner or eBay buy-it-now. The bidders haven't done their homework or forgot the cost of the buyer's premium or just got carried away. Cal
Great collections are 10% I think Always include in bid the premium. Unless its a just have to have coin
Thanks Great Collections are 10 percent. David Lawrence has none. Are there any other reliable sites without buyers fees?
