Anyone see this auction?

[Eichaan]

I'm not affiliated, but this is a good price for an older PRS, right?

https://www.liveauctioneers.com/item/62102917_paul-reed-smith-electric-guitar

 

[bodia]

That serial number would make it from 2002. Custom 24. Way cheap, at that price.

 

[sergiodeblanc]

I’d keep an eye on that.

 

[Eichaan]

You're welcome! I hope whoever gets it appreciates it!

 

[gush]

Oh I'll be watching that one.

 

[veinbuster]

Could be a good deal. Don’t forget they add 23% to your bid though.

 

[Matte82]

Could be a good deal. Don’t forget they add 23% to your bid though.

Can you elaborate? I've never seen that site before, but am definitely interested in a few items on there, but don't want to spend more than expected haha.

 

[tvf88]

Means whatever the ending bid is an additional 23% will be added to the final price which sucks lol but fairly common in auctions

 

[veinbuster]

Can you elaborate? I've never seen that site before, but am definitely interested in a few items on there, but don't want to spend more than expected haha.

Means whatever the ending bid is an additional 23% will be added to the final price which sucks lol but fairly common in auctions

Exactly, the % varies from house to house but is almost always there from the big houses. They are up front about it, but it is really easy not to notice. Just factor it in when you set your bid limit.

 

[Matte82]

Cool. And for kicks, where do they show that? Haha. I looked around the site a bit. And found info on “how it works” but never saw the added %. I’ll look again.

Also is this a site any of you have used before?

Edit: so on my phone it’s right there on the page. Buyers premium 23%. Didn’t notice it on the pc earlier.

 

[veinbuster]

Also is this a site any of you have used before?.

I have not.
I’ve participated in Julien’s and Christie auctions.
Another note: they might choose a much more expensive shipping option than you would expect.

 

[gush]

23% seems like a lot. Yikes

 

[veinbuster]

23% seems like a lot. Yikes

It seems like a lot, but they have all run at 20-25% for quite a few years. Basically, you bid what you are paying the owner, and the hammer premium is the auction houses commission.

 

[bodia]

It seems like a lot, but they have all run at 20-25% for quite a few years. Basically, you bid what you are paying the owner, and the hammer premium is the auction houses commission.

Does the seller get hit with an Auction fee as well?

 

[veinbuster]

Does the seller get hit with an Auction fee as well?

I don’t know the details of how they all work, but I believe sellers pay up front to list at all.