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<p>[QUOTE="Conder101, post: 1023753, member: 66"]Must not know too many venues. Every auction house charges the local sales tax on those items delivered at the auction site, and the appropriate sales tax for lots delivered by mail to bidders in their home state and those states in which they have established a nexus. Heritage used to just be in Texas, then they opened an office in California and later in New York. So now they have to charge sales tax to lots delivered to those states. If you know someone you can trust in a neighboring state you can have the lots delivered there and then there is no sales tax. (I'll leave how you get the lots into your hands from there and how you handle the Use Tax up to you.)</p><p><br /></p><p>And Mark you can get that 6 - 7% rate because of the size of your consignments. You said that 77 coin example as just part of a consignment, but if they figured them at $400 each that is still over $30,000. And that was just part of the consignment. Most people can't come up with consignments like that. Of course they could turn them over to people like you who can then make up the larger consignments to get the lower rates. But this brings up another point. Your consignor got the lower rate from the auction house, but what about your commission? I won't ask what it was, but I could see the consignors final commission rate still being in the 9% range. (Still better than he could get from the auction house on his own.)[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 1023753, member: 66"]Must not know too many venues. Every auction house charges the local sales tax on those items delivered at the auction site, and the appropriate sales tax for lots delivered by mail to bidders in their home state and those states in which they have established a nexus. Heritage used to just be in Texas, then they opened an office in California and later in New York. So now they have to charge sales tax to lots delivered to those states. If you know someone you can trust in a neighboring state you can have the lots delivered there and then there is no sales tax. (I'll leave how you get the lots into your hands from there and how you handle the Use Tax up to you.) And Mark you can get that 6 - 7% rate because of the size of your consignments. You said that 77 coin example as just part of a consignment, but if they figured them at $400 each that is still over $30,000. And that was just part of the consignment. Most people can't come up with consignments like that. Of course they could turn them over to people like you who can then make up the larger consignments to get the lower rates. But this brings up another point. Your consignor got the lower rate from the auction house, but what about your commission? I won't ask what it was, but I could see the consignors final commission rate still being in the 9% range. (Still better than he could get from the auction house on his own.)[/QUOTE]
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