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THE Ruby Slippers


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6 minutes ago, Marshal Mo Hare, SASS #45984 said:

Worth twice as much.

And the bidding is still open.

Will that be check or cash?

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I was stunned.

 

Current bid is $800,000. "With buyer's premium, that is $1 million dollars."

 

I realize I am not the most mathematically inclined person in the world, but that seems like a 25% buyer's premium.

 

Is that normal?

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15 minutes ago, Alpo said:

I was stunned.

 

Current bid is $800,000. "With buyer's premium, that is $1 million dollars."

 

I realize I am not the most mathematically inclined person in the world, but that seems like a 25% buyer's premium.

 

Is that normal?

I don’t know what is normal. Sotheby’s recently lowered their premiums. For your convenience, and further confusion, I copied their rate structure.

 

34203481-6262-454F-A3E5-272934D6391D.jpeg

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8 hours ago, Alpo said:

I was stunned.

 

Current bid is $800,000. "With buyer's premium, that is $1 million dollars."

 

I realize I am not the most mathematically inclined person in the world, but that seems like a 25% buyer's premium.

 

Is that normal?

"Buyer's Premium per Lot:

25% on the first $1,000,000 (minimum $49), plus 20% of any amount between $1,000,000 and $5,000,000, plus 15% of any amount over $5,000,000 per lot".

 

25% is within common range of 14-27% BP that I commonly see for estate sales.  Sometimes that includes tax and credit card fee, other times you add 2-5% CC fee and sales tax.  

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