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aristomatic
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Thesaleroom.com new bidding commission

Postby aristomatic » Tue Oct 23, 2018 4:12 pm

I was told today that thesaleroom auction platform is raising its bidding commission for buyers from 3.5% to nearly 6%.....

I have only bought twice using this platform so doesn't really impact me but thought it worth mentioning if true. I'm sure even some who use it more than I have, may not be aware?

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badpenny
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Re: Thesaleroom.com new bidding commission

Postby badpenny » Tue Oct 23, 2018 5:46 pm

To be clear, that is the commission saleroom.com charge the buyer for using their website.
There is still the auction house buyer commission and VAT to pay as well.

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pennymachines
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Re: Thesaleroom.com new bidding commission

Postby pennymachines » Tue Oct 23, 2018 8:19 pm

You must have inside sources Aristo. I've not seen anything to confirm the raise. Surely 3% is as much as the market will bear. I used the service once and, if it was cheaper might do so more, for the convenience. But I doubt people would be willing to pay another £25+ on a £500 item to avoid using the phone, especially on top of a 25% house commission plus VAT and shipping.

aristomatic
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Re: Thesaleroom.com new bidding commission

Postby aristomatic » Wed Oct 31, 2018 1:22 pm

A non forum member emailed me today to say it's correct. He had spoken with the saleroom.com directly via live chat.

They confirmed an increase from 3.0% to 4.95% excluding VAT, @ Nov 1st. Little ambiguous as stated some auction houses? They also stated it's the first increase in 12 years?

Auction Houses are, I believe, free to directly charge online bidders as much or as little online bidding fees as they wish, however the majority I believe pass the whole of the saleroom portal online bidding fee to the buyer?

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pennymachines
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Re: Thesaleroom.com new bidding commission

Postby pennymachines » Wed Oct 31, 2018 3:02 pm

aristomatic wrote:
Wed Oct 31, 2018 1:22 pm
They also stated it's the first increase in 12 years?
That implies an increase should be expected to keep up with inflation, but the fee is a percentage, not a fixed price. Will it continue to increase over the years until it reaches 100% or more of the hammer price? :o
I think they're in danger of pricing themselves out of the market, but time, as they say, will tell.


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