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Chit Chat
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They should wear a bloody mask! Just watching on telly now. 20% from the buyer, 20% from the seller, plus another £12 flat fee off the seller to list the item. So if something sels for £100 the auction house gets £52. Incredible.
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so seller only gets £68 from it and the buyer ends up paying £120?
does sound like daylight robbery. |
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bit like betfair
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That's if you get a good auctioneer. Was watching an auction (Gerrards, St.Annes-on-sea) online and the guy looked and sounded like he had a massive hangover and was totally disinterested in the lots he was selling.
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and up to 28 days to get your dosh from the auction house after the sale
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Golfboy....where have you been.....seem to have been missing for a while?
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Leopard thanks for asking, I just haven't bothered with the forum much, not like it was a few years ago a!
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Isn't the charge of 20% to the buyer, in fact VAT?
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No, VAT is charged on top
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That's right. To confirm, if an item sells for £100, this particular auction house charged the buyer £120 in commission plus £4 in VAT (20% of the 20% commission). They also charged the seller £20 plus a £12 listing fee.
This boils down to the buyer paying £124 for the £100 item. The seller receiving £68 for his £100 item. The taxman gets £4 from the sale. And the Dick Turpin auction house gets £52. |
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torq, ive bought and sold at auctions for a few years now and seen the commision rate double in some places 10-20%.
for a general auction house now commision varys from house to house approx 15-20% being the norm. i have never paid any other fees on top as you have stated at a GENERAL auction, although i have incurred listing fees when selling at a FINE art sale, but yes the point you make is correct and auctions should only be used for selling as a last resort imo.  |