Wednesday, May 13, 2009
GOOD NEWS FROM JULIA AUCTIONS
Here's a good news "stimulus" story for collectors. Jim Julia of James D. Julia Inc., the Maine auction house, has announced that the commission rate the auction charges sellers will be 0% (that's ZERO) for expensive items--"expensive" ranging from $5,000 for things like toys to $8,000-$10,000 for rare guns. We dont know of any other auction house offering this. Do you?
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9 comments:
Sounds like they have adopted a British auction system in which the buyer pays the commission vs. the seller..Some City auctions in this country are conducted with only a buyers premium in order for the auction company to win the contract. It's tough out here...
Central Texas
Ebay is also giving 5 auction posting per month with no listing fees starting June 16. Any item, any starting price! That's a deal!
You need to look at his buyers premium amounts. He is socking it to the buyer who in my opinion should not have to pay additional money to buy an item, Grady
It is more honest to all parties when the seller pays a flat percentage to the auctioneer, and the buyer pays for the item plus tax.
What is worse is the trend of auctions to be actual retailers of their own merchandise, rather than an independent seller for others.
So, if I am interested in something, say, less than $5,000, I PAY a buyer's premium--which is crazy to begin with, PAY to PAY.
Anyway, it sounds like a "steak-break" for those having a "stash of cash." 'Magine that!
My auction company, Leonard Auction (www.leonardauction.com) offers 0% commission on all single coin & currency lots that sell for $250 or more. Our consignors love the commission-free sales and our bidders love the quality items. We see it as a win-win!
The auctions in my area of New Jersey charge both a seller and a buyers fee. Generally 20% to 25% for sellers and an added 10% to 15%buyers premium. I have not been to out of state auctions. Would love to know what the practice is in neighboring states.
I always hated paying these extra buyer's fees so I only go to auctions where I don't have to pay them. People are hurting now and it's hard to sell. I guess if you have a lot of money you might not mind especially if it is a premium item. Even wealthy people are starting to watch their money now though.
If there is no buyer's premium then you can bet the collection is not being advertised properly. It costs money to promote a sale and do you think auction houses can afford to pay thousands of dollars in advertising to sell a collection they're making 10-15% off of? They wouldn't make any money.
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