Any Experience With This Auction House...?

Pete Ebbink · 01-17-2003, 12:04 AM

Have any folks had expereinces with this auction house ? Looks like they will have quite a few lugers on auction in April 2003 :

www.rockislandauction.com/page/upcomingauctions2.html

Thanks,

Pete...

tracyp · 01-17-2003, 12:34 AM

No, I got a catalog from them once. They are near Simpson's. I visited Simpson's last spring and I wanted to stop at Rock Island Auction but I ran out of time.

Boss302man · 02-01-2003, 03:58 PM

Pete, they are reputable and above board. I've attended several auctions and was high bidder on 4 P 38's. Just watch the 15% buyers premium on top of the bid price..
Roger from Iowa

Pete Ebbink · 02-10-2003, 09:01 AM

Hello Roger,

Does this mean that a buyer needs to pay the auction folks an additional 15% on top of the winning bid price ?

If yes, thanks for the warning...I would have missed it...

Regards,

Pete... <img border="0" alt="[typing]" title="" src="graemlins/yltype.gif" />

Navy · 02-10-2003, 11:10 AM

A buyer's premium, actually a surcharge on top of the hammer price, is customary at most auctions. It is half of the revenue derived by the auctioneer. The other half is the seller's premium, a percentage deducted from the hammer price and retained by the auction house. Typically, seller's premiums may be negotiated for especially rare items but buyer's premiums are almost never waived or reduced.

Tom A

Lugerlvr · 02-10-2003, 12:06 PM

Hi Roger,
I haven't seen you in ages! Regards, to you too Pete. I have gotten several catalogs from them, and they have some very nice things. I allways mark the ones I'm interested in, and make a "cheat sheet" with the price of the item at a certain level, and the total of the bid. For example:

42 BYF: Bid price: $700 Real price: $805
$1,000 $1,150
& so on. One other thing to be aware of. If you don't have a sales tax permit from your state they tack on another 7%, unless of course you have them send it to you for an additional $30.00. I've seen some good buys, but the extra 22% kills alot of people caught off guard. As a result,they do alot of absentee sales at their auctions. BYF 42 $1,500 + $225 + $121 = $1846.00!
Sale Price 15% 7% Total Price
Take good care,

01-17-2003, 12:04 AM	#1
Pete Ebbink User Join Date: Jun 2002 Location: The USA Posts: 5,919 Thanks: 0 Thanked 6 Times in 4 Posts	Any Experience With This Auction House...? Have any folks had expereinces with this auction house ? Looks like they will have quite a few lugers on auction in April 2003 : www.rockislandauction.com/page/upcomingauctions2.html Thanks, Pete...

01-17-2003, 12:34 AM	#2
tracyp User Join Date: Jun 2002 Location: Peoples Republic of Kalifornia Posts: 391 Thanks: 0 Thanked 2 Times in 2 Posts	No, I got a catalog from them once. They are near Simpson's. I visited Simpson's last spring and I wanted to stop at Rock Island Auction but I ran out of time.

02-01-2003, 03:58 PM	#3
Boss302man User Join Date: Jun 2002 Location: Iowa Posts: 8 Thanks: 0 Thanked 0 Times in 0 Posts	Pete, they are reputable and above board. I've attended several auctions and was high bidder on 4 P 38's. Just watch the 15% buyers premium on top of the bid price.. Roger from Iowa

02-10-2003, 09:01 AM	#4
Pete Ebbink User Join Date: Jun 2002 Location: The USA Posts: 5,919 Thanks: 0 Thanked 6 Times in 4 Posts	Hello Roger, Does this mean that a buyer needs to pay the auction folks an additional 15% on top of the winning bid price ? If yes, thanks for the warning...I would have missed it... Regards, Pete... <img border="0" alt="[typing]" title="" src="graemlins/yltype.gif" />

02-10-2003, 11:10 AM	#5
Navy RIP Join Date: Jun 2002 Location: Dc 'burbs in Virginia Posts: 2,482 Thanks: 0 Thanked 16 Times in 10 Posts	A buyer's premium, actually a surcharge on top of the hammer price, is customary at most auctions. It is half of the revenue derived by the auctioneer. The other half is the seller's premium, a percentage deducted from the hammer price and retained by the auction house. Typically, seller's premiums may be negotiated for especially rare items but buyer's premiums are almost never waived or reduced. Tom A

02-10-2003, 12:06 PM	#6
Lugerlvr Banned Join Date: Jun 2002 Posts: 31 Thanks: 0 Thanked 0 Times in 0 Posts	Hi Roger, I haven't seen you in ages! Regards, to you too Pete. I have gotten several catalogs from them, and they have some very nice things. I allways mark the ones I'm interested in, and make a "cheat sheet" with the price of the item at a certain level, and the total of the bid. For example: 42 BYF: Bid price: $700 Real price: $805 $1,000 $1,150 & so on. One other thing to be aware of. If you don't have a sales tax permit from your state they tack on another 7%, unless of course you have them send it to you for an additional $30.00. I've seen some good buys, but the extra 22% kills alot of people caught off guard. As a result,they do alot of absentee sales at their auctions. BYF 42 $1,500 + $225 + $121 = $1846.00! Sale Price 15% 7% Total Price Take good care,