ComicConnect's Next Event Auction has started posting books ! 21 21

[Professor K]

Seems kind of underhanded or sneaky to remove past sales information during an auction. If that is what they do of course. And if that's the case I don't see it helping sale prices in general. Heritage I believe shows past sales history on the bottom of each books auction page. 

[Gotham Kid]

I think it is a bug. The auction is over and I just looked up Detective 37, came up with only 3 hits (not even including mine)

[lou_fine]

Somehow, I suspect this might be the reason also since it definitely does not encourage bidders to place higher bids when previous stratospheric auction results have fallen out of your auction archives.  

If it's really the software engineers who updated their website, they really need to hold them accountable as they have certainly done the absolute worst website upgrade job ever.    

A week ago, they didn't have the Atlantic City copy of Action 13 that sold for $185,000 back in 2011 and then they had it as of a few days ago.  On the weekend, they didn't have the Atlantic City City copy of Action 10 that sold for $258,000 and now they have it back in their archives today.  Same thing with some of the record pre-Robin 'Tec's as they now have the CGC 3.0 graded copy of 'Tec 38 that sold for $54,010 back in 2017, and yet the 3.0 copy of 'Tec 29 that sold for $66,010 in the exact same auction is not in their archives.  

 

[lou_fine]

Any idea if this is nothing more than a mistaken carryover from their Quick Draw Auction or are they really planning to charge a BP of 15% in their upcoming Event Auction:  

https://www.comicconnect.com/browse/auction/9

If so, it looks like the consignors will now be losing an additional 15% on top of the 10% Seller's consignment fee which they have to pay.  If this is actually the case, and CL and HA holds to their current consignment fees (which might not be the case if CC raises theirs   ), I can certainly see sellers not bothering to consign any of their books to CC going forward.    

Edited December 22, 2020 by lou_fine

[G.A.tor]

10 hours ago, lou_fine said:

Any idea if this is nothing more than a mistaken carryover from their Quick Draw Auction or are they really planning to charge a BP of 15% in their upcoming Event Auction:  

https://www.comicconnect.com/browse/auction/9

If so, it looks like the consignors will now be losing an additional 15% on top of the 10% Seller's consignment fee which they have to pay.  If this is actually the case, and CL and HA holds to their current consignment fees (which might not be the case if CC raises theirs   ), I can certainly see sellers not bothering to consign any of their books to CC going forward.    

There was one book I wanted to bid on last auction but it had a 10% bp note so I didn’t bid. None of the other books had this so not sure if an error or just certain books ? 
 

I understood the adding bp to that western auction as many books sold would have likely resulted in a real world loss for cc handling. But feature auction books? I too hope this is not the trend. 

[buttock]

4 hours ago, G.A.tor said:

There was one book I wanted to bid on last auction but it had a 10% bp note so I didn’t bid. None of the other books had this so not sure if an error or just certain books ? 
 

I understood the adding bp to that western auction as many books sold would have likely resulted in a real world loss for cc handling. But feature auction books? I too hope this is not the trend. 

There was one in this past auction that had a 200% BP.  Not joking.  I don't know if it was an error or serious, but either way... not a good look. 

[skypinkblu]

16 hours ago, lou_fine said:

Any idea if this is nothing more than a mistaken carryover from their Quick Draw Auction or are they really planning to charge a BP of 15% in their upcoming Event Auction:  

https://www.comicconnect.com/browse/auction/9

If so, it looks like the consignors will now be losing an additional 15% on top of the 10% Seller's consignment fee which they have to pay.  If this is actually the case, and CL and HA holds to their current consignment fees (which might not be the case if CC raises theirs   ), I can certainly see sellers not bothering to consign any of their books to CC going forward.    

Where is that posted, I'm not seeing anything when I look at the preview? You are right, I doubt I'd consign things if they are going to charge 15% BP.

[Gotham Kid]

Don't see this in high grade all that often

https://www.comicconnect.com/item/902222

 

[Gotham Kid]

also noteworthy ...

[Chicago Boy]

That AS 3 is amazing !  

[Professor K]

Wow 9.4 and White. The holder looks a little beat up but I doubt I'd risk getting a new one if it was mine.

Can someone tell me how buyers premiums work? I sold on Comiclink and if I recall correctly they took a flat 10% of the final price. Heritage I know has a 20% BP, so I figured that is the total amount they take, but I'm not sure.

At this point what does ComicConnect take as commision? And if they begin to add a BP, will that be their total commision on the sale? (assuming at least). Thanks

[lou_fine]

2 hours ago, skypinkblu said:

18 hours ago, lou_fine said:

Any idea if this is nothing more than a mistaken carryover from their Quick Draw Auction or are they really planning to charge a BP of 15% in their upcoming Event Auction:  

https://www.comicconnect.com/browse/auction/9

If so, it looks like the consignors will now be losing an additional 15% on top of the 10% Seller's consignment fee which they have to pay.  If this is actually the case, and CL and HA holds to their current consignment fees (which might not be the case if CC raises theirs   ), I can certainly see sellers not bothering to consign any of their books to CC going forward.    

Where is that posted, I'm not seeing anything when I look at the preview? You are right, I doubt I'd consign things if they are going to charge 15% BP.

Did you click into the link which I had embedded into my post up above?  

I also clinked the link into the CGC 9.4 graded copy of AS 3 which Peter had mentioned and it clearly states:  

https://www.comicconnect.com/item/900255

COMMENTS: A 15% BUYER'S PREMIUM WILL BE ADDED TO THIS ITEM AT CONCLUSION OF THE AUCTION

[skypinkblu]

5 minutes ago, lou_fine said:

Did you click into the link which I had embedded into my post up above?  

I also clinked the link into the CGC 9.4 graded copy of AS 3 which Peter had mentioned and it clearly states:  

https://www.comicconnect.com/item/900255

COMMENTS: A 15% BUYER'S PREMIUM WILL BE ADDED TO THIS ITEM AT CONCLUSION OF THE AUCTION

Thanks, I see it now, for some reason I had expected it to be big and flashing;)

It only seems to be on some books?

[SuperBird]

32 minutes ago, skypinkblu said:

Thanks, I see it now, for some reason I had expected it to be big and flashing;)

It only seems to be on some books?

This whole new thing is very confusing, and I'm not sure why they think it's a good idea. (It's not) If they want to have different commission rates for different books, they should build that into the back end and hide it from the bidders. 

[lou_fine]

1 hour ago, Gotham Kid said:

also noteworthy ...

 

49 minutes ago, Chicago Boy said:

That AS 3 is amazing !  

Although a CGC 9.4 graded copy and one notch below the Church CGC 9.6 graded copy, I am 100% sure that it will still not come anywhere close to the $200K price that Anthony Chiofalo paid for the Billy Wright CGC 8.5 graded copy back in 2012.       

The seller of that BW must have been absolutely ecstatic when Heritage contacted them to let them know that some some fool embezzler was willing to turn over $200,000 to them through the HA Make Offer to Owner feature after he was the lucky auction winner of the book only a week earlier at the winning bid of $49,293.75.     

[lou_fine]

40 minutes ago, skypinkblu said:

Thanks, I see it now, for some reason I had expected it to be big and flashing;)

It only seems to be on some books?

Well, they only have 3 books listed for their upcoming Event Auction #45 and the 15% BP notation is there on all 3 books. 

Not sure if this means it will be for just certain books or for all of the books in their Event Auctions going forward.  Especially since there doesn't seem to be a BP notation on their January Monthly Auction books?  

[skypinkblu]

28 minutes ago, lou_fine said:

Well, they only have 3 books listed for their upcoming Event Auction #45 and the 15% BP notation is there on all 3 books. 

Not sure if this means it will be for just certain books or for all of the books in their Event Auctions going forward.  Especially since there doesn't seem to be a BP notation on their January Monthly Auction books?  

 

38 minutes ago, SuperBird said:

This whole new thing is very confusing, and I'm not sure why they think it's a good idea. (It's not) If they want to have different commission rates for different books, they should build that into the back end and hide it from the bidders. 

Definitely confusing. I have a few books they held over because I didn't want them listed with a bunch of duplicates, and nothing was ever mentioned to me about BP. BP is the reason I didn't list on Heritage.

But I thank you for bringing this up, I obviously have not been looking closely enough.

[Gotham Kid]

9 hours ago, G.A.tor said:

I understood the adding bp to that western auction as many books sold would have likely resulted in a real world loss for cc handling. But feature auction books? I too hope this is not the trend. 

All 3 current books listed for the next Feature Auction appear to have BP

 

Edited December 22, 2020 by Gotham Kid

[lou_fine]

1 hour ago, Professor Chaos said:

Can someone tell me how buyers premiums work? I sold on Comiclink and if I recall correctly they took a flat 10% of the final price. Heritage I know has a 20% BP, so I figured that is the total amount they take, but I'm not sure.

At this point what does ComicConnect take as commision? And if they begin to add a BP, will that be their total commision on the sale? (assuming at least). Thanks

Well, with both CL and CC (in the past at least) it was pretty straight forward with only a Seller's Premium (SP) of 10% and no Buyer's Premium (BP) at all. This means that if a book sells for say $1,200 at auction for both of these auction houses, the consignor would receive 90% or $1,080 while the auction house would receive 10% or $120.  

The only qualifier being the use of payment by credit cards and/or PayPal which is apparently subject to certain limits, with this 3% fee then being charged to either the buyer (CL) or the seller (CC or this might have changed recently to the buyer instead???).

With Heritage, it's a completely different story as they have both a BP and SP in place for their auctions.  Apparently, these fees are negotiable depending upon both the quantity and the quality of the books which you are then consigning.  Supposedly, it's doesn't take too much for them to start giving the discounts to you.  

If we work on the assumption of paying the full freight without any discounts at all, then it's just the set BP of 20% and not sure about the SP, but possibly a further 15%.  This means that if a book hammers for $1,000; then the price of the winner pays $1,200 with Heritage taking the 20% BP of $200.  The seller than pays a SP of 15% on the hammer price or $150 which means the consignor will see only $850 with Heritage getting the remaining $350 out of the $1,200 auction result.    

One again though, it must be emphasized that some board members here have stated that with the discounts in place, consignors can get something closer to what the consignment fees are with CL and CC.     

[szav]

I guess these guys must think that their website and service are awesome enough now that they can start taking a bigger piece of the pie from consigners by adding a buyers premium... on the other hand, I can't also help but think there is some cornball Major League the Movie esque plot going on here, where the company owners are trying to drive this business in the ground in order to devalue it enough to trigger a secret exit clause that allows them to move the team... err company out of New York.