Message #57624

[Wattana]

Charll and YT,

I agree that it was an interesting ploy by Sothebys. And a successful one. I'm sure their competitors have made note, and may well start to move in that direction, i.e. larger group lots.
The downside is that it is unattractive to mature and selective collectors like us. So it limits the bidders. But it could be attractive to dealers wanting to build stock.
Auction houses citing rising costs is a lame excuse. Back in the 1970s they charged a 10% premium. Then it crept up to 20%, then 25%, with Bonhams now raking in 27.5%.
Since lot values have also risen, often at a greater rate than inflation, the premiums would have kept up anyway, without raising the percentage rate.

Tom