Reply to Thread

Message:: [QUOTE="Nerva, post: 2786359, member: 87761"]If the government doubles taxes on gas, prices at the pump will increase exactly in proportion. It's a low margin business. So they can call it a tax on oil companies, but it's really a consumption tax. If one auction house has no buyer's premium and another has 90%, and they have almost identical coins for sale, who would bid the same hammer price on both? In the end the buyer pays an inclusive price for their purchases. The seller receives that price minus the auction house take. It's the seller that negotiates terms and the buyer that takes terms. So economically, the seller loses the auction house take. Smart buyers know that and negotiate rebates. Dumb buyers don't and get stung. The reason auctioneers do it this way is to take advantage of cognitive bias, so it's not neutral. And the calculation is complex; I know, because I wrote the excel spreadsheet;-)[/QUOTE]