If you've browsed auctions from major comics, original artwork, card, game, and collectibles auction house ComicConnect recently, you may have noticed something new in the comment text provided on the auction lots for three sessions from upcoming auctions. The Denny O'Neil Estate Collection session of the March Mega Monthly Auction and the incredible Kentucky Collection sessions of Event Auction #45 both include the text "A 15% buyer's premium will be added to this item at conclusion of the auction." While some combination of buyer's and seller's premiums are standard practice in the auction industry, a buyer's premium is new at ComicConnect. The auction house is a regular Bleeding Cool sponsor, and in order to inform prospective bidders on these auctions about this change, we discussed the reasons behind this change with ComicConnect co-founder Stephen Fishler.
"While our job is to auction off comics and collectibles, it is also of prime importance to provide clients with the options they are looking for regarding the service we provide," ComicConnect's Fishler tells Bleeding Cool. "Time and again we have heard from consignors that they would like the option of utilizing a buyer's premium. Rather than turn down business we came up with an option that would satisfy their needs."
"Buyer's premiums are a part of most major auction houses. We realize some clients prefer a seller's premium only, others a combination, and still others a buyer's premium only. To better accommodate a wide range of client needs, we have added options to our existing system to better serve those needs.
"The upcoming sale of the Kentucky collection carries a buyer's premium simply because the owner of these fabulous books preferred a buyer's premium versus a seller's premium. That being said, It is our intention to continue to hold comic auctions in the future free of a buyer's premium."
The comic books in the Kentucky Collection at ComicConnect are fabulous indeed, including a jaw-dropping All-Star Comics #3 CGC 9.4 among many other comics. The Denny O'Neil Estate Collection includes a rare and historic Cancelled Comic Cavalcade bound volume. We'll be talking about these things and more items from those upcoming auctions in future posts here on Bleeding Cool.