Sender: Rare book and manuscripts <EXLIBRIS-L@LISTSERV.INDIANA.EDU>
The problem (immorality) is that mere "disclosure" of a "buyer's premium"
does not fully disclose to the consignor how this second fee will directly
and sometimes profoundly reduce the monies that the consignor will receive
from the sale.
I assume that by this same reasoning when Kevin buys a book from a private
party for, say, $500, he immediately tells that person that he intends to
sell it for $2,000. Bookseller markups, some of which are huge, also
"profoundly reduce the monies that the consignor will receive from the
sale." At least in the auction world, the selling price is obvious and
known to all, no matter how it was arrived at.
I don't know of any auction house that could stay in business without making
a profit, anymore than a bookseller could. If buyer's premiums are not
charged, that money is going to come out of the consignor's pocket. So, the
$1,000 auction sale, instead of producing, say, $800 for the consignor
because the buyer is paying part of the freight, would suddenly be reduced
to something like $500. Don't strike me as much of a bargain for anybody
except the buyer.
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