Hammer down at the RIA

alvin · 12-20-2017, 07:45 AM

Yes. In premiere auction, RIAC charges seller 20% on C&R, 17.5% on pre-1899 antique, 25% on non-gun and modern guns. In their regional auction, they charge flat 25%. The charge is on hammer price. Consignor did not see 15% buyer's premium, that has nothing to do with consignor.

So the fee is not low. In the past, I saw people buying expensive guns from them (e.g. C96 Carbine), and selling it via them a year or two later. Those people must lose money, due to as a buyer, he/she paid 15% buyer's premium, and as a seller, he/she paid 20%... with this 35% difference, a $15,000 hammer priced gun has to be sold $20,700 hammer in future session to be flat (15000 x 1.15 x 1.2).

But, if expensive guns were acquired cheaply elsewhere, or bought many years ago, or inherited from family,,,, consigning to them does save owner lots of effort. Especially on high value items.

12-20-2017, 07:45 AM	#8
alvin User Join Date: Jul 2007 Location: US Posts: 3,843 Thanks: 132 Thanked 729 Times in 438 Posts	Yes. In premiere auction, RIAC charges seller 20% on C&R, 17.5% on pre-1899 antique, 25% on non-gun and modern guns. In their regional auction, they charge flat 25%. The charge is on hammer price. Consignor did not see 15% buyer's premium, that has nothing to do with consignor. So the fee is not low. In the past, I saw people buying expensive guns from them (e.g. C96 Carbine), and selling it via them a year or two later. Those people must lose money, due to as a buyer, he/she paid 15% buyer's premium, and as a seller, he/she paid 20%... with this 35% difference, a $15,000 hammer priced gun has to be sold $20,700 hammer in future session to be flat (15000 x 1.15 x 1.2). But, if expensive guns were acquired cheaply elsewhere, or bought many years ago, or inherited from family,,,, consigning to them does save owner lots of effort. Especially on high value items.