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Old 29th Jul 2020, 12:24 pm   #21
Cobaltblue
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Default Re: Auction Prices

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Originally Posted by Dave Moll View Post
And this highlights the excellent value at BVWS auctions - with (like the AmRad auctions mentioned above) just a 10% sellers' commission and the buyer pays only the hammer price. Of course, this is made possible because of the time and effort put in free-of-charge by Mike B. and his team. The only down-side for me is that I live such a long way from the auction venues.
100% agree, the Auction team do a great job on our behalf as does the whole BVWS as an organisation a lot of time given by volunteers.

This includes of course many members here and Paul Stenning when he is wearing his BVWS hat rather than his forum hat.

Cheers

Mike T
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Last edited by Cobaltblue; 29th Jul 2020 at 12:26 pm. Reason: Clarity this isn't a BVWS Forum
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Old 29th Jul 2020, 12:30 pm   #22
G6ONEDave
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Default Re: Auction Prices

I just won a lot of radios on a local auction and the hammer price was exempt of VAT however there is the auction premium to pay and that does have 20% VAT on it. The premium can be anything from 5% to 30% plus VAT, depends on the auction company. My method when bidding is to allow +50% on top of hammer price, that way no nasty surprise at payment time, as the total is normally less.
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Old 29th Jul 2020, 3:20 pm   #23
Dave Moll
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Default Re: Auction Prices

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My method when bidding is to allow +50% on top of hammer price, that way no nasty surprise at payment time, as the total is normally less.
Doesn't that mean that you could miss out on an item that is outside your budget by this calculation but would actually be affordable at what that house charges?
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Old 29th Jul 2020, 4:17 pm   #24
G6ONEDave
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Default Re: Auction Prices

Yes Dave that can and does happen, it's a method for if I am away from the auction site. If however, I am logged in at the time, I might vary a little on my statement. The danger then is the possibility of auction fever. I did lose out on another item on the same auction by £2, however that does not mean that I would have won it with a slightly increased bid, it would depend on second guessing the other bidders limit!
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Old 29th Jul 2020, 7:36 pm   #25
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Default Re: Auction Prices

I always thought that the use of “premiums” was something of a misnomer until I saw a TV programme last week about life in Devon and Cornwall. Here they alluded to the use of Guineas as the currency at farmers auctions where the shilling (Guinea being 21 shillings) is the earnings derived by an auctioneer for a given sale. For example something selling for 20 Guineas would generate 20 shillings for the auctioneer.
Modern day auctions however function not unlike most if not all competitive business enterprises be they small, medium or large. In this, any sale a business will undertake will have a “cost of sale” process to produce a product or service. These costs will be considered as “direct costs” such a material costs and labour hours.
Added to these costs will be the “indirect costs” such as energy costs, factory and office costs, advertising, staff costs and cost of fringes for example. When these are added together one can then divide the total by a specific number to arrive at a determined percentage profit on sales. VAT where applicable and indeed any CIF (P&P) charges can be added accordingly.

Auction houses will most certainly have to include the appropriate costs for some of the variables. Furthermore it would seem that some of them are quite a knowledgeable lot and well qualified as well. Ergo, should we complain for what would seem, in most cases a high professional business activity?
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Old 29th Jul 2020, 8:12 pm   #26
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Default Re: Auction Prices

David, ref #19, I am of the opinion that at farm retirement sales, the "paying over the top" is trying to help the retiree. Normally as you probably know, trying to get money out of a farmer is VERY difficult.
The retirement sale is the one event that always loosens farmers' pockets.
Normally, farmers are dressed more scruffily than me, but give them an event of some import in the farming calendar, and it is best clothes (never previously seen) and a good old day.
Les.
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Old 29th Jul 2020, 8:26 pm   #27
Radio Wrangler
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Default Re: Auction Prices

Yes, I think that's it, but it always seems to be electric fence units. They seem to have a habit of heading in my direction "David, can you fix this?"


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Old 29th Jul 2020, 8:51 pm   #28
duncanlowe
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Default Re: Auction Prices

What saddens me about this thread, is how much the clocks mentioned sell for. In the late 70's I got one from a jumble sale and got it working and earthed the housing. Someone I knew was keen and bought it for just a few pounds. To be fair thought it was a mad price given I hated it. Just goes to show!
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Old 29th Jul 2020, 10:22 pm   #29
mark_in_manc
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Default Re: Auction Prices

I'm not yet 50, and I often play that game with myself - 'How much?! - I had one of those, and it was shite!' (It goes along with its companion game - 'Wow, this thing was £****.** new in today's money, and I just found it left out on a front wall'.)
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