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<p>[QUOTE="Publius2, post: 5178926, member: 105571"]Well, I think you have answered your own question. When you don't have any options, you pay it. I know that sounds trite, but it's not intended to be so. Now, if you bid in an auction you must agree to their terms and conditions including paying the buyers premium so there is no way to "avoid the premium" if you are going to play in that arena. But, if you check out actual auction sales including the BP and compare them to actual sales of genuinely comparable coins from dealer's lists, you will often find the total cost to be comparable. So, what we all do when we are contemplating an auction bid is to research what we are willing to pay for the coin INCLUDING buyers premium and all other costs and then calculate what our maximum bid should be. If you can get the coin from a dealer for less than the total auction cost you are willing to pay then you should buy from the dealer.</p><p><br /></p><p>How do you find a good dealer doing business on the internet? Research (including internet search engines and {shudder} eBay) and ask questions of others who are collecting in the same areas of interest as you. Often a good way of networking for this is to join a specific interest club, of which there are many. Most clubs have dramatically increased their on-line activities in response to Covid-19 and often have Zoom meetings, Facebook and Twitter presences. Many clubs have prominent dealers among their members and officers. Magazines such as <i>The Numismatist, </i>the publication of the American Numismatic Association, are loaded with dealer advertisements. </p><p><br /></p><p>As an end note, there are some well-known dealers who also conduct auctions that charge no BP. But you have to realize that no matter how the deal is structured there is always a pound of flesh that must be paid.</p><p><br /></p><p>I am reminded of something that happened 40 years ago at my former employer. We had a manager who was tasked with negotiating lower costs from our electric utility supplier. He met with the utility many times over the weeks, each time asking the utility to structure a deal in different ways and to come up with an annual cost. No matter how he structured the deal, the annual cost was always the same. In frustration the manager asked the utility how this could be and was told "We have to get a specific amount of money from your account and no matter how the arrangements are structured, we will arrange matters to result in that number."[/QUOTE]</p><p><br /></p>
[QUOTE="Publius2, post: 5178926, member: 105571"]Well, I think you have answered your own question. When you don't have any options, you pay it. I know that sounds trite, but it's not intended to be so. Now, if you bid in an auction you must agree to their terms and conditions including paying the buyers premium so there is no way to "avoid the premium" if you are going to play in that arena. But, if you check out actual auction sales including the BP and compare them to actual sales of genuinely comparable coins from dealer's lists, you will often find the total cost to be comparable. So, what we all do when we are contemplating an auction bid is to research what we are willing to pay for the coin INCLUDING buyers premium and all other costs and then calculate what our maximum bid should be. If you can get the coin from a dealer for less than the total auction cost you are willing to pay then you should buy from the dealer. How do you find a good dealer doing business on the internet? Research (including internet search engines and {shudder} eBay) and ask questions of others who are collecting in the same areas of interest as you. Often a good way of networking for this is to join a specific interest club, of which there are many. Most clubs have dramatically increased their on-line activities in response to Covid-19 and often have Zoom meetings, Facebook and Twitter presences. Many clubs have prominent dealers among their members and officers. Magazines such as [I]The Numismatist, [/I]the publication of the American Numismatic Association, are loaded with dealer advertisements. As an end note, there are some well-known dealers who also conduct auctions that charge no BP. But you have to realize that no matter how the deal is structured there is always a pound of flesh that must be paid. I am reminded of something that happened 40 years ago at my former employer. We had a manager who was tasked with negotiating lower costs from our electric utility supplier. He met with the utility many times over the weeks, each time asking the utility to structure a deal in different ways and to come up with an annual cost. No matter how he structured the deal, the annual cost was always the same. In frustration the manager asked the utility how this could be and was told "We have to get a specific amount of money from your account and no matter how the arrangements are structured, we will arrange matters to result in that number."[/QUOTE]
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