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Re: RIAC auction
Posted by John S. on Monday, 10 July 2017, at 5:52 p.m., in response to Re: Julia auction, posted by Dan on Monday, 10 July 2017, at 3:31 p.m.
I have no reason to doubt the truthfulness of what this RIAC employee is telling us about the company from his vantage point.
However, I never use their absentee bid option any more because of personal past experience, as well as anecdotal experiences of some friends where bids all came out at the maximum amount. I choose to use a bidding service like Proxibid instead.
I also discovered that RIAC has a new way to separate bidders from their money, a 3% "live bidding fee" for Proxibid users which added $97.50 on top of their buyers premium, and shipping fees. Still, I rather pay that than risk getting my bid maxed out by using RIAC absentee process.
Bottom line- It's the bidder's money and the auction house wants as much as they can of it and will find ways to get deep into your pockets. A smart bidder will figure what an item is worth to them, but adjust their bid amount to allow for all the added expenses that get added on.
There are some auction houses I refuse to even consider doing business with (one in California, for example) based on other factors, and others which I trust completely (one in Ohio and one in PA.) I will use RIAC, but with caution.
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