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

2,528 posts in this topic

Interesting when you did the math..  basically if they reduced the !0% a little, CC wouldn’t be facing this debacle of suddenly using buyers premiums.. It appeared that the seller was doing much better by getting to keep the whole 15%... but they still only get a fraction more of the total buyers price. I suppose, for CC the upside is threefold:  make consignor happy; get higher sale prices (maybe); and backdoor themselves into making BUyers Premiums permanent.  

frankly, I think making them permanent is a mistake. why give up their sole marketing advantage?

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50 minutes ago, Professor Chaos said:

Yes, there it is. A slightly lower commision fee. It may have even been a smarter play that way because the BP is going to cause a lot of people to just not bid at all. Changing the usual business protocol in order to obtain a consignor, who does he think he is Frankie Valli or some big shot?

 

Just to let you know @lou_fineRelax-Im-a.jpg.541b9f02e1a4fd7f3e207c65ad2d37ba.jpgat Auctions he is the See the source imageof Math

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1 hour ago, Aman619 said:

why give up their sole marketing advantage?

I definitely wouldn't think of it as their sole marketing advantage since I am not actually aware of any of the other comic book auction sites that charges a Buyer's Premium.  hm

Unless you are comparing them solely to Heritage only, since that is the only major comic book auction site that I am aware of that charges a BP.  (shrug)

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5 hours ago, Professor Chaos said:
9 hours ago, lou_fine said:

I guess they could have gone with a slightly lower SP commission fee, but then again, that's definitely a slippery slope that they probably didn't want to start to go on.  hm  (shrug)

Yes, there it is. A slightly lower commision fee. It may have even been a smarter play that way because the BP is going to cause a lot of people to just not bid at all.

Like I had alluded to earlier in my post above, this could result in other unintended consequences in terms of the slipperly slope as it could quickly turn into a race to the bottom with the other competing auction houses also responding in kind and dropping their fees even more.   hm  :ohnoez:

They probably figured that once they got onto this ride downwards, they wouldn't be able to jump off in time until it hit rock bottom.  :fear:

Edited by lou_fine
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On 1/23/2021 at 6:06 PM, szav said:

Anyway as a public service to those who need help with this I put together a team of people and developed  the following calculator...

Your bid = ($$What you want to pay$$)/(1.15)

Guaranteed to work every time, except  when bidding on HA.  I’ve got the term hard at work developing the HA specific calculator....

Appreciate your hard work on this. In the past I've had to punch that into my calculator every time I wanted to place a bid, but now I can use your calculator....

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On 1/23/2021 at 11:20 PM, lou_fine said:

I definitely wouldn't think of it as their sole marketing advantage since I am not actually aware of any of the other comic book auction sites that charges a Buyer's Premium.  hm

Unless you are comparing them solely to Heritage only, since that is the only major comic book auction site that I am aware of that charges a BP.  (shrug)

I guess it depends on your definition of "major", but I believe MyComicShop has a 3% buyer's premium on their auction items.

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On 1/23/2021 at 5:58 PM, lou_fine said:

That was the first time that I saw it and probably where they got the idea from, as it apparently provides the consignor with a miniscule fractional percentage more to his take.  Definitely goes against their long time hyped mantra of NO BP on their auctions which you see on all of their ads.  I guess they could have gone with a slightly lower SP commission fee, but then again, that's definitely a slippery slope that they probably didn't want to start to go on.  hm  (shrug)

It would seem to make sense to go with a lower commission, as that would be completely hidden from view, so you wouldn't have buyers complaining about the BP, and the sellers wouldn't know about it unless someone talked. Looking at this as a programmer, I can see why this might have been done this way - if the software already had the capability of charging a BP, but not a varied SP, this would be an easy way to reduce the SP without having to make coding changes.

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37 minutes ago, ttfitz said:

I guess it depends on your definition of "major", but I believe MyComicShop has a 3% buyer's premium on their auction items.

That's effectively a credit card fee, similar to what CC and CL will charge you if you pay by credit card instead of a check. 

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What's going on with ComicConnect?  It used to match Heritage in terms of frequency of big event auctions and quality of books.  Lately, it seems they've fallen back.  Maybe the issue is simply my inability to successfully navigate their new website.

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32 minutes ago, RareHighGrade said:

What's going on with ComicConnect?  It used to match Heritage in terms of frequency of big event auctions and quality of books.  Lately, it seems they've fallen back.  Maybe the issue is simply my inability to successfully navigate their new website.

It all ebbs and flows. They’re still running with the big dogs

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2 hours ago, RareHighGrade said:

Maybe the issue is simply my inability to successfully navigate their new website.

There are junior associates who can do that for you so your time is better spent in more...lucrative endeavors.  :baiting:

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