Bonhams 30th April Knightsbridge, London

[Alex A]

Worth a look...

 

http://www.bonhams.com/auctions/21637/# ... =list&m0=0

[kaigunair]

For those not close by, note that shipping is unreasonably steep since they outsource it. Over $220 to ship a few pieces of tosogu last year to the US from London. I think it was $75-$100 for a small item from one coast to another that would be around $10 if purchase from ebay. :x Wouldn't be surprised if they get a cut of the shipping costs. Completely turned me off to their auctions. Given their outrageous shipping costs, I'd only consider the local auctions where I could pick up in person....

 

Would be nice to set up a NMB network for shipping from these auctions. Since I'm close to one of their auction houses, would be willing to trade services....

[Alex A]

Yep, there making money there alright. Id be happy to forward any Tosogu purchases onto you. Id be a bit wary with the nihonto, especially that rather large nodachi :D

[pcfarrar]

The bonhams outsourced shipping prices are also outrageous within the UK...

[watsonmil]

Dear All,

What I would like to know is exactly when the so called " Buyer's Premium " came into being ? It seems to me at least that I remember a time when there was NO buyer's Premium. If I remember correctly it was Sotheby's and Christies who brought in this gimmick so as to compete with one another on the SELLERS payable commission for using their respective auction houses. In other words if the collection/estate were large enough the two major auction houses would try to undercut one another's " sellers " fees ( commission ) to get the particular auction. I have heard ( hearsay ) that the Compton auction was at 2 % for the family.

 

Now then there are some of you who will say that's just good business, ... BUT ... what about the buyers ??? Without the Buyers there would be no auction. Lets look at a typical smaller collector with say one or two really choice items and quite a few mediocre items. You can bet your last shilling that those same two auction houses will not even want to handle your mediocre items but will accept the choice items .... ah yes but at a full 25 % sellers fee plus listing fees, insurance fees and any number of other costs they can hit you with AND they'll still want another 25 % from the buyer.

 

Here in Canada, there are a few auction houses that charge a buyers fee, ... but most ... at least those I have frequented DON"T. It is the sellers property and it is between him/her and the auction house what the commission will be. They only hope that enough buyers attend to make for a decent sale.

 

What these big auction houses are doing smells of GREED, no STINKS of GREED ... nothing more nor less. It is my sincere hope that Sotheby's, Christies, Bonham's eventually go belly up and that that their business practices become a thing of the past. I will not live to see it happen unfortunately as change takes time. Answer me this ... when will the buying public call enough is enough ? Is it 30 %, 40 % 50 % ? I do know that I for one will never sell nor buy from these piranha.

 

... Ron Watson

[Curran]

I have not had shipping issues with Bonhams, having made special arrangements.

 

However, I can say that Christies UK charged about $1200 to ship a sword from London to FL. Sword was only worth $6000, but they added insurance at something else horrid, like another $232 to cover it. Net shipping cost was $1432 or thereabouts. Quite the bathing.

 

Won't do it again unless I know someone who can handle receiving it and shipping it for me. Even then, reading the legalese of getting them to release it to someone other than you is quite a challenge too. They don't make it easy, do they.

[Soshin]

Hi Everone,

 

I was thinking my UK buying has been completed for the year. I was notified via email about this auction today. I will spend sometime looking at the catalog tonight. The buyer's premium isn't nearly as high at my local auction house where I found a undervalued Higo tsuba.

[Loco Al]

Dear All,

What I would like to know is exactly when the so called " Buyer's Premium " came into being ? It seems to me at least that I remember a time when there was NO buyer's Premium. If I remember correctly it was Sotheby's and Christies who brought in this gimmick so as to compete with one another on the SELLERS payable commission for using their respective auction houses. In other words if the collection/estate were large enough the two major auction houses would try to undercut one another's " sellers " fees ( commission ) to get the particular auction. I have heard ( hearsay ) that the Compton auction was at 2 % for the family.

 

Now then there are some of you who will say that's just good business, ... BUT ... what about the buyers ??? Without the Buyers there would be no auction. Lets look at a typical smaller collector with say one or two really choice items and quite a few mediocre items. You can bet your last shilling that those same two auction houses will not even want to handle your mediocre items but will accept the choice items .... ah yes but at a full 25 % sellers fee plus listing fees, insurance fees and any number of other costs they can hit you with AND they'll still want another 25 % from the buyer.

 

Here in Canada, there are a few auction houses that charge a buyers fee, ... but most ... at least those I have frequented DON"T. It is the sellers property and it is between him/her and the auction house what the commission will be. They only hope that enough buyers attend to make for a decent sale.

 

What these big auction houses are doing smells of GREED, no STINKS of GREED ... nothing more nor less. It is my sincere hope that Sotheby's, Christies, Bonham's eventually go belly up and that that their business practices become a thing of the past. I will not live to see it happen unfortunately as change takes time. Answer me this ... when will the buying public call enough is enough ? Is it 30 %, 40 % 50 % ? I do know that I for one will never sell nor buy from these piranha.

 

... Ron Watson

 

Totally agree with you that these big auction houses have one of the best rackets going (even if it is legal). Most of the big art auction houses in Canada do charge a hefty buyer's and seller's premium, as far as I know.

 

Take Heffel Auction House for example: They host a major live auction of fine Canadian art twice a year. The seller pays 10% for lots over $7500, 15% for lots $2500 to $7500, and 25% for lots under $2500. The buyer pays 25% commission on lots up to $2500, and 18% on lots over $2500.

 

Bonhams is even worse: Buyer's premium of 25% on the first $85,000 US of the hammer price.

 

It certainly is greedy, but that is the nature of the business and you are under no obligation to buy. The problem is that this artificially elevates the going price on some items, especially on rarer items that some fool with too much money is prepared to bid up to ridiculous levels (then add the premium to that), such that they may be priced out of the future market (for most realistic and sane buyers). The only way to resell an item like this in the future would be to again consign it to the auction house.

 

Alan