ComicConnect's Next Event Auction has started posting books !
19 19

2,664 posts in this topic

yeah.  It reads like the seller will be receive 90% of the final bid price --- plus the 15%.  So if final bid is 1000,  instead of getting 900, they will get 1035  (90% of 1150).   But of course, bidders will treat these lots same as they do on HA, by doing the math to make sure what their final bid will actually cost them with the BP.  Basically then, except for the unwary, or the over excited, the final bids will be about 15% less that they usually were.  Frankly it seems that CC is willing to kill their sole selling advantage of no BP to please certain consignors (and hopefully goose a few higher sales too)  Giving up a so much to gain so little.

Link to post
Share on other sites
On 12/24/2020 at 4:13 AM, adamstrange said:

The quantity and dollar value of Hake's comic auctions is a fraction of the others.  They will be hard pressed to improve that with their overly complicated bidding and closing process.

As a buyer, I've found Hake's customer service to be really good.  But their website is clunky and their offerings thin.  If I happen to forget to bid in one of their auctions, I don't lose too much sleep.

I can't even imagine consigning comic-related material to Hake's.  I'd love to hear their elevator pitch on what their value proposition is compared to the Big 3.

Link to post
Share on other sites
12 hours ago, Gotham Kid said:

I just think the introduction of the BP sucks.

ComicConnect had, for the longest time, used this as a punchline. And everyone was happy about it.

Now what ?

Now their selling point is that 15% BP is less than 20% BP!  So still a bargain! :idea:

Link to post
Share on other sites
10 hours ago, GreatCaesarsGhost said:

I really do not understand the strategy of a consignor asking for a BP

Who gets the BP?  Does the consignor get it, which would be different from Heritage?  ???

Link to post
Share on other sites

That’s a great point.  If CC doesn’t bother to change their site to automatically display what you are actually bidding with the BP, it’s close to bait and switch.  At least going to lead to many unhappy customers when told you should have read the fine print.  Or large bold print.. either way, the amount must be shown when bidding. 

Link to post
Share on other sites
3 hours ago, G.A.tor said:

I believe the consignor gets the 15% without paying 10% on the bp. So, if I’m understanding correctly, if winning bid is 1000, 100 goes to cc and consignor gets 1050

versus a 1150 winning bid where cc gets 115 and consignor gets 1035. 
 

in that respect , consignor might ask for the bp so they realize 1.5% more?

image.gif.9118921c0695841309767f17739c708f.gifThis hurts my head

Edited by GreatCaesarsGhost
Link to post
Share on other sites
3 hours ago, G.A.tor said:

I believe the consignor gets the 15% without paying 10% on the bp. So, if I’m understanding correctly, if winning bid is 1000, 100 goes to cc and consignor gets 1050

versus a 1150 winning bid where cc gets 115 and consignor gets 1035. 
 

in that respect , consignor might ask for the bp so they realize 1.5% more?

So, the theory is this: if you wanna get more out of Santa, you have to make a better deal on the back end with the elves and make sure your best cream and gingerbread is available for the Big Boy.  Otherwise you’re just leaving cookies on the table.

Also, when the sleigh bells ring between chimney lots you don’t want to be caught watching too closely from the stairwell at the risk being accused of shilling your own cookies.  That could result in your ending up with a lump of coal for your troubles. 

Does that about cover it? hm

__________________________________

Wishing everyone a safe, joyful holiday season, and a vaccinated New Year!

 

Edited by Cat-Man_America
Link to post
Share on other sites
9 hours ago, G.A.tor said:

I believe the consignor gets the 15% without paying 10% on the bp. So, if I’m understanding correctly, if winning bid is 1000, 100 goes to cc and consignor gets 1050

versus a 1150 winning bid where cc gets 115 and consignor gets 1035. 
 

in that respect , consignor might ask for the bp so they realize 1.5% more?

Interesting analysis, but wouldn't it be easier to just charge the consignor a lower fee than using this complicated approach?  Is there a tax benefit for someone by charging a BP?

Edited by RareHighGrade
Link to post
Share on other sites
6 hours ago, RareHighGrade said:

Interesting analysis, but wouldn't it be easier to just charge the consignor a lower fee than using this complicated approach?  Is there a tax benefit for someone by charging a BP?

That was my initial reaction too, Peter.

My guess is that CC's hope is that the BP will result in a higher gross price because CC bidders will bid like normal, not realizing that there is a BP on some lots, and get ambushed by the extra 15% that's been tacked on to their final invoice.  This will result in incremental dollars for CC and the consignor.

Or, even if CC are properly transparent about the BP and it shows up in the price field when you enter a bid, they are hoping that there will be enough arithmetically challenged bidders out there who won't build the BP into their bids and will just suck up the extra 15% on top.

Edited by tth2
Link to post
Share on other sites
On 12/24/2020 at 12:00 PM, Micah S. said:

Hi, this is Micah from ComicConnect, I handle most of the original art consignments. Vincent asked me to post this in reply to the discussion that has been going on here in the forum.

We read your comments and wanted to address them. First, thanks for bidding in our last auction. We really appreciate it.

ComicConnect will not be charging buyer’s premiums on all items in our auctions. For the most part, comics and art will not have buyer’s premiums. However there are cases wherein clients have expressed interest in using buyer’s premiums. We are trying to accommodate their needs. In our first Event Auction of 2021 there will be a large collection with a buyer’s premium. Those comics will be sold in separate sessions. Again, we are not moving to a standard fixed buyer’s premium on all auctions. I hope this clears things up.

Happy Holidays and all the best in the New Year!

Thank you,

 Vincent Zurzolo

Oh, come on you two guys.........why go and spoil our fun and controversy with facts and explanations. (tsk) :bigsmile:

Don't you realize that the extended Christmas break is a sleepy and lazy time of the year when it comes to these boards and we always like to have a little bit of angst and controversy to keep us awake and into the game? :devil:

Perfect case in point being that thread back in the sleepy Christmas break of 2015 about a Detective 33 Blowing up on eBay which really woke up the boardies here with a long and enlightening thread :slapfight:  :slapfight: on the shall we say "virtues" of the work as performed by IGB. lol

Link to post
Share on other sites
On 12/24/2020 at 10:48 PM, tth2 said:

As a buyer, the impact on me is completely neutral.  If CC starts charging a BP, then I will just do the same thing I do at Heritage, which is determine the gross price inclusive of BP that I'm willing to pay and set my bid accordingly. 

The consignor is probably thinking of the psychological mind of the bidder and rationalize that even though they know there's a 15% BP of top of their bid, that bid price will still be swimming around in their head when they are smack dab in the middle of the auction action and they just might go that one of two bids higher.  hm

 

On 12/24/2020 at 10:48 PM, tth2 said:

What's of greater concern to me is if CC aren't being transparent about the BP.  With Heritage, the BP impact is shown quite clearly when you make your bid and you can't claim to have been blindsided by the BP.  With CC, if it's hidden and it's hard to tell if BP will be applied, and you get an unpleasant surprise when you win the book, that would not be good.

It is clearly not hidden as it is in BIG BOLD CAPITAIZED letters and the absolute first thing you see in the description of the auction and cannot be missed even if you are partially blind.  In fact, it is so noticeable that it almost obscures everything else in the auction description to the point that it's almost like a flashing billboard even when you are reading the rest of the description.  :gossip:

 

On 12/24/2020 at 10:48 PM, tth2 said:

Additionally, logistically speaking, if the BP isn't uniformly applied to all lots at CC and some have and some don't, and it's not prominently featured in the main listings page but I have to open each individual listing to see whether BP is being applied, that's just too much hassle. 

This would indeed be the case if they are mixing their BP auction lots in with the non-BP auction lots, but according to their post, it sounds as though they are going to be done in different sessions:  (thumbsu

On 12/24/2020 at 12:00 PM, Micah S. said:

In our first Event Auction of 2021 there will be a large collection with a buyer’s premium. Those comics will be sold in separate sessions.

Thank you,

 Vincent Zurzolo

I guess the question is whether they will also continue to separate them in future upcoming auction after this first Event Auction of 2021.  (shrug)

Link to post
Share on other sites
On 12/25/2020 at 6:36 AM, GreatCaesarsGhost said:
On 12/25/2020 at 3:21 AM, G.A.tor said:

I believe the consignor gets the 15% without paying 10% on the bp. So, if I’m understanding correctly, if winning bid is 1000, 100 goes to cc and consignor gets 1050

versus a 1150 winning bid where cc gets 115 and consignor gets 1035. 
 

in that respect , consignor might ask for the bp so they realize 1.5% more?

image.gif.9118921c0695841309767f17739c708f.gifThis hurts my head

Indeed, and I don't know if it's worth the risk of turning off some of the potential bidders who would simply pay more attention to the auction lots with no BP added on top.  (shrug)

If I was a potential bidder looking at these BP auctions whereby the consignor could squeeze out a further 1.5% on the hammer price (or only 1.3% on the final price), it would lead me to think........if they are that desparate to squeeze out a fractional percentage more, is it possible that they might have done other undisclosed work on the book to get an even much bigger bang for their buck.  hm  :p

From my point of view, it's only worth it if the consignor believes that there are potential bidders out there who will get caught up in the bidding action and not be thinking straight and end up throwing in an extra bid or two by not fully or seriously factoring in the additional 15% BP.  doh!  :censored:

Link to post
Share on other sites
On 12/25/2020 at 1:19 AM, Mmehdy said:

To me higher sales price..higher sales tax...right

Only to ny residents as thats the only state they operate in. And seems like most ny comic folks are smart and have a resale Cert so o doubt tax is an issue for most 

Link to post
Share on other sites
12 minutes ago, G.A.tor said:
On 12/24/2020 at 10:19 PM, Mmehdy said:

To me higher sales price..higher sales tax...right

Only to ny residents as thats the only state they operate in. And seems like most ny comic folks are smart and have a resale Cert so o doubt tax is an issue for most 

Well, either that or simply open up a PO Mailing Box across the state line since it's so close with all of the super fast freeways out East there.  hm  (thumbsu

Link to post
Share on other sites
On 12/25/2020 at 3:21 PM, RareHighGrade said:

Interesting analysis, but wouldn't it be easier to just charge the consignor a lower fee than using this complicated approach?  Is there a tax benefit for someone by charging a BP?

If they feel their main competition for consignors is HA, it could be to angle potential clients by showing they give you the entire BP, something that HA is never going to do. So they are heading off any potential questions by a consignor along the lines of - "HA has offered to give me some of the BP to sweeten the deal", and Vince replies "No worries, we are going to give you the entire BP, see if anyone will match that."

 

Link to post
Share on other sites

Don't know if this book has been posted yet, but anyone see this beauty of an All Star Comics #3 coming up? 2nd highest graded, the only 9.4 with no 9.2's below it and just 1 higher, which is the Nic Cage/Mile High 9.6. Although the Cage/Mile High has glue and Off-White to White pages, so I wonder if this 9.4 with white pages and no glue or anything is maybe slightly more attractive to a degree. Most recent higher grade sale was the Billy Wright 8.5 that sold for $72K in a 2019 Heritage auction, which doesn't come remotely close to this 9.4. Wonder what this will go for hm.

Screen Shot 2021-01-05 at 9.59.13 AM.png

Edited by LDarkseid1
Link to post
Share on other sites

Never mind, I shouldn’t have been lazy and just looked back a few pages. It’s already been discussed 😂.

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
19 19