October 30, 2015 at 11:34 pm #27780
I know that in all likelihood the operators of both Fox and the Stein Auction Company are members of this organization, but I have to question at least the Stein Auction Company’s fees for selling steins.
10 percent seller commission and 20 percent buyer’s premium. So that’s 30 percent of every sale going into the pockets of the auction site.
Does that seem a little excessive to anyone else?
Considering E-Bay won’t sell Nazi steins anymore, I understand some type of additional cost, but this is high in my opinion.
Maybe it’s time for some more competition.
(I cannot speak about Fox Auctions because I have not looked into their costs.)
October 31, 2015 at 4:16 am #27781
I take the commission into account when I bid at the Stein Auction Company. I stay within my comfort zone. Who gets the money is not an issue for me. Last January, I made a best offer bid of $400 for a Mettlach 2889 that was being offered for $595. The seller, potsinacnj, countered for $550. I kept my money in my wallet. Recently I obtained the same stein from TSACO for $324, including the commission. The same ebay seller is offering a different stein that I wanted for $535. Another ebay seller is asking $395. I recently won the same stein, in beautiful condition, on ebay for $250. The buyer always has the final say.
October 31, 2015 at 10:36 am #27782
Unfortunately, those kind of commission rates are the status quo for the auction industry. I would almost say that they are somewhat reasonable as other high end auction houses can be closer to 30 on the buyer’s end. If you have a budget, you just need to be selective about which steins you buy and where you buy them from. If something is rare enough, and you want it bad enough, the auction rates are an unfortunate obstacle. I’ve found that patience and education are the best practices for any kind of collector. But let’s face it, by the time you add in the BP and shipping/insurance you do pay much more than you probably should…and most of us have done that too often.
November 1, 2015 at 1:25 pm #27783
I have done transactions with both companies. The reason is both have excellent reputations and can be relied on to stand behind their items. They respond to my questions to a satisfactory time frame. As in any auction you have to set a limit on what you are willing to pay for your stein. If you have attended live auctions there is a commission that the house charges. An auction house also charges fees if you pay by check or cash.I always take into consideration the total cost shipping , commission and other fees before placing my bid. I have lost due to a collector placing a higher value on the stein then the current market value. Remember you buy what you like. Richard
November 1, 2015 at 11:52 pm #27785
There are two fees associated with Fox Auctions and TSACO, the commission and the buyers premium. The commission is what the auction company charges the seller to sell the stein. The buyers premium a fee that the auction company charges the buyer.
Both companies advertise a 20% buyers premium, however it appears Fox Auctions charges a 23% premium if you bid online. TSACO chagres 10% ($40 minimum) for the commission. Fox Auction just advertises that their commission is the lowest in the business.
If you are buying steins from these companies, you just need to know that your winning bid will be increased by 20%-23%, and bid accordingly. On Ebay, all fees are charged to the seller, so you will only pay what you bid.
November 5, 2015 at 11:03 pm #27794
i was just on another site (not steins), and they charge 26% to the buyer online and seller near 20% depending on lot value, etc. Shipping is often through UPS or other 3rd parties and can be quite expensive and you have to make separate arrangments.
Yes, it can save money to buy directly, but there are several downsides. At least TSACO and Fox stand behind their descriptions and make it simple and safe for the buyer.