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Darrell Banks - Open The Door To Your Heart/our Love

Posted

 

9 hours ago, cover-up said:

Is it the same copy or has a second one turned up? 🤔

maybe  @Omega Auctions can offer some more 'official' details/background on this.... ?

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Posted
23 hours ago, Mike said:

 

maybe  @Omega Auctions can offer some more 'official' details/background on this.... ?

Hi all, yes, it is indeed the same copy, unplayed since the owner bought from JM's auction. Viewing is Monday morning here and Tuesday before the sale starts. We're happy to answer any questions here, on the phone or via email (all on website contact page) if anyone has any.  Thanks!

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Posted

Sold for £15,000 plus min. 25.5% commission

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Posted

I've got to say that that is a thing of beauty. Can't stop looking at it.

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Posted (edited)

This should serve as a warning to anybody thinking of selling through a trad auction house, the final sale was minus 28.8% of 15000 = £4320 = a  takehome of £10,680 ! A loss of £4000 off the original price he bought it for

Edited by airfixkid
wrong quote

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Posted
38 minutes ago, airfixkid said:

This should serve as a warning to anybody thinking of selling through a trad auction house, the final sale was minus 28.8% of 15000 = £4320 = a  takehome of £10,680 ! A loss of £4000 off the original price he bought it for

Thought Manship sold for about £13500? I stand to be corrected😄

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Posted (edited)

Does seller not get 15k ?

Auction house charges buyer 28.8% of sell price.

Or have I got this arse over elbow?

Edited by Headsy

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Posted

They charge in the region of 20% + VAT for the pleasure of selling it for you, so seller gets around £11400 of the £15000 sale price

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Posted
1 hour ago, Julianb said:

Thought Manship sold for about £13500? I stand to be corrected😄

And he took his cut off that 15% ? 

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Posted
1 hour ago, Headsy said:

Does seller not get 15k ?

Auction house charges buyer 28.8% of sell price.

Or have I got this arse over elbow?

Generally speaking when you bid at an auction house you'll pay selling fees on top of the purchased/bid price.

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Posted
16 minutes ago, Maxwell said:

And he took his cut off that 15% ? 

I've not sold through John recently, but I think he charges 20% now. I could be wrong though. I'm sure someone on here ( or John himself) can put us right on this.

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Posted
3 hours ago, airfixkid said:

This should serve as a warning to anybody thinking of selling through a trad auction house, the final sale was minus 28.8% of 15000 = £4320 = a  takehome of £10,680 ! A loss of £4000 off the original price he bought it for

Hammer price was £15,000. Buyer pays the auction house the hammer price plus fees, thought to be 24% plus VAT if buyer was in the room. Auction House receives the fees. Seller receives the hammer price less commission. Standard sellers commission at Omega is 17.5% plus VAT plus a £3 lot fee although sellers commission can be negotiated for high value articles. 

Consequently the worst case scenario is that the seller paid Omega £3,153 for the privilege.

Like bookies, the real winner here is the auction house.

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Posted
13 hours ago, Headsy said:

Does seller not get 15k ?

Auction house charges buyer 28.8% of sell price.

Or have I got this arse over elbow?

The seller gets charged commission and the buyer gets charged commission too. So, the auction house takes, for example, 20% from the buyer AND 20% from the seller making a 40% commission. Nice work if you can get it...

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Posted

Ive been corrected on another forum, the total fee to the seller was 28.8%  ergo 28.8% fee of £15000 = £4320 

The buyer would have payed £15,000 + 33.6% Fees (as he was bidding on The-Saleroom website, total paid = £20,040.

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Posted
1 hour ago, airfixkid said:

Ive been corrected on another forum, the total fee to the seller was 28.8%  ergo 28.8% fee of £15000 = £4320 

The buyer would have payed £15,000 + 33.6% Fees (as he was bidding on The-Saleroom website, total paid = £20,040.

just for clarity, given that have had a few figures now, it may be best if you say who provided the above figures...
was it the seller, buyer...  etc?

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Posted
1 minute ago, Mike said:

just for clarity, given that have had a few figures now, it may be best if you say who provided the above figures...
was it the seller, buyer...  etc?

calling @Omega Auctions can you add to this....

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Posted
19 hours ago, cover-up said:

The seller gets charged commission and the buyer gets charged commission too. So, the auction house takes, for example, 20% from the buyer AND 20% from the seller making a 40% commission. Nice work if you can get it...

Some auction houses have a sliding scale on commission dependent on the item value.  What gets me though is why do you pay VAT on 2nd hand goods. Some relatively new items will already have had the VAT  paid as a new purchase.  

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Posted

You pay VAT on the commission not the 2nd hand goods Steve

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