oldcopper Posted July 30, 2019 Posted July 30, 2019 I notice DNW have put their premium up to 24% for the forthcoming Sept general auction. This means ~29% extra for those of us not VAT registered. Ouch! 1 Quote
Nonmortuus Posted July 30, 2019 Posted July 30, 2019 That's not good. Makes some coins that were just in reach unattainable now. Quote
Colin88 Posted July 30, 2019 Posted July 30, 2019 Not good for anyone except DNW Buyers will factor in that 30% when they bid so the sellers will get even less.. Quote
Paulus Posted July 30, 2019 Posted July 30, 2019 Yes, in theory if buyers stick to their budgets then the hammer prices will be that bit lower (although I doubt it!) Quote
blakeyboy Posted July 30, 2019 Posted July 30, 2019 Yep, same as many other areas of life - greed that can't be stopped. I wonder if any of the big players will eventually be brave enough to announce they are going back to 15% or some such, thus grabbing all the sellers...... Quote
1949threepence Posted July 30, 2019 Posted July 30, 2019 I must admit I thought it was already 24%. What was it? Quote
mrbadexample Posted July 30, 2019 Posted July 30, 2019 20% Mike. Here's their statement. I don't see that it will make much difference to me as a buyer. I have a limited budget - I will either win what I want within that budget or someone with deeper pockets will want it more than me. Nothing changes. 1 Quote
Paulus Posted July 30, 2019 Posted July 30, 2019 It was 24% including the VAT (20% + (20% of 20%)) which might be why the number rings a bell - and might be why they have chosen this number, as it might go unnoticed 1 Quote
Bronze & Copper Collector Posted July 30, 2019 Posted July 30, 2019 13 minutes ago, Paulus said: It was 24% including the VAT (20% + (20% of 20%)) which might be why the number rings a bell - and might be why they have chosen this number, as it might go unnoticed Any business will try to make the most profit that they can. Where will it stop though. It reminds me of the proverbial camel. It sticks his head in the tent to see you and before you know it he has got the whole tent, and you are on the outside looking at him.... 1 Quote
copper123 Posted July 30, 2019 Posted July 30, 2019 (edited) Yes 15% too 20% seems much more reasonable , by putting up their fees so much they will effectively drive all sellers to the oposition. Shrewd move NOT!!!! Edited July 30, 2019 by copper123 Quote
Colin88 Posted July 30, 2019 Posted July 30, 2019 They will all follow suit soon I’m sure and jack it up to 24% I tend to agree I’m sure there’s a market for one of them to put their head above the parapet and go 15% .. which is still a good profit especially if they’ve taken it from the other seller side too. Anyone fancy starting an online Auction company ? ! ... actually I would if I was 30 years younger ... actually I would start a revolution if I was 30 years younger...and thinner .. ! 1 Quote
copper123 Posted July 30, 2019 Posted July 30, 2019 There again most auction stuff is either single coins worth £100 plus or bulk collections again worth £100 plus the single coins tend to be bought by collectors to boost their collection and the bulk lots tent to be bought by dealers . Obviously this is just a generalisation and the two sorts of buyers can slip into either camp. Quote
copper123 Posted July 30, 2019 Posted July 30, 2019 1 hour ago, Colin88 said: They will all follow suit soon I’m sure and jack it up to 24% I tend to agree I’m sure there’s a market for one of them to put their head above the parapet and go 15% .. which is still a good profit especially if they’ve taken it from the other seller side too. Anyone fancy starting an online Auction company ? ! ... actually I would if I was 30 years younger ... actually I would start a revolution if I was 30 years younger...and thinner .. ! POWER TO THE PEOPLE!!! Quote
Mr T Posted July 31, 2019 Posted July 31, 2019 Seller's premium I can understand but buyer's premium... Quote
Paulus Posted July 31, 2019 Posted July 31, 2019 How much is their standard buyer'a premium, anyone know? I can't find it on their website ... Quote
Colin88 Posted July 31, 2019 Posted July 31, 2019 Sellers premium can be fully negotiable whatever is stated in print .. buyers premium is not negotiable , by law I believe ? Quote
Bronze & Copper Collector Posted July 31, 2019 Posted July 31, 2019 4 hours ago, Colin88 said: Sellers premium can be fully negotiable whatever is stated in print .. buyers premium is not negotiable , by law I believe ? That would make sense....... Equality for ALL buyers, in a open free marketplace. High bid takes it, everyone pays the SAME premium. As for selling, you can negotiate the sellers premium as it would only affect the seller and the auction house, essentially a private transaction. Quote
RLC35 Posted July 31, 2019 Posted July 31, 2019 6 hours ago, Paulus said: How much is their standard buyer'a premium, anyone know? I can't find it on their website ... Sellers commission is usually based on the volume, or value of the coins being sold. I approached Heritage and London both with the same coins (about 50k), and Heritage charged 5%, while London wanted 10%. I went with Heritage. 1 Quote
rpeddie Posted July 31, 2019 Posted July 31, 2019 heritage is 5% for signature items or 10% for other Quote
jaggy Posted August 1, 2019 Posted August 1, 2019 On 7/30/2019 at 5:50 AM, oldcopper said: I notice DNW have put their premium up to 24% for the forthcoming Sept general auction. This means ~29% extra for those of us not VAT registered. Ouch! That will just push more people to ebay and dealers. 1 Quote
azda Posted August 3, 2019 Posted August 3, 2019 On 7/30/2019 at 2:07 PM, 1949threepence said: I must admit I thought it was already 24%. What was it? That is Baldwins, I wonder if its anything to do with the weakening sterling Quote
azda Posted August 3, 2019 Posted August 3, 2019 On 7/31/2019 at 1:41 PM, Bronze & Copper Collector said: That would make sense....... Equality for ALL buyers, in a open free marketplace. High bid takes it, everyone pays the SAME premium. As for selling, you can negotiate the sellers premium as it would only affect the seller and the auction house, essentially a private transaction. Baldwins is zero seller fees over £1000 hammer Quote
azda Posted August 3, 2019 Posted August 3, 2019 On 8/1/2019 at 2:54 PM, jaggy said: That will just push more people to ebay and dealers. Those sellers also buy at the same auction houses as we do 😉 Quote
azda Posted August 3, 2019 Posted August 3, 2019 On 7/31/2019 at 6:18 PM, rpeddie said: heritage is 5% for signature items or 10% for other They don't accept consignments under $5k Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.