Morphy Buyer's Premium

[Frank]

I notice the Morphy Auction buyers premium has been raised (again) to 22%. Remember the good old days of the Arrington Auction when 12% got you a free hot lunch? I'm relying more now on this forum for buys/sells and eBay.

The spread between Buy/Sell including sales tax, buyer and seller premium must be close to 50%.

[SLOT DYNASTY]

I notice the Morphy Auction buyers premium has been raised (again) to 22%. Remember the good old days of the Arrington Auction when 12% got you a free hot lunch? I'm relying more now on this forum for buys/sells and eBay.

The spread between Buy/Sell including sales tax, buyer and seller premium must be close to 50%.

Frank:
You're absolutely right. The live auction scene today, is getting way-out-of-hand. I was fortunate to get into the coin-op
hobby at an early age, and was able to afford such high prices, as a Victorian Upright for $300 - $500. In need of work,
of coarse! A nice one might cost as much as $800 - $1,000. Goodness! A friend was buying more than I at the time, as I
was raising a family, and he wasn't. Sad thing about his collecting all these years, is that he doesn't have anything to
show for it. He does not work-on or restore anything. Most everything needs restoration, is apart, with maybe a case
half-done. Many with missing parts, or broken castings. He has some really nice machines, that will never be finished
as long as he has them. I am guilty of not finishing some of my favorite machines, but I have finished many 100's of my
own, as well as 1000's for other collectors. There is only one other person, that I know of, that was restoring more than
I, (and still does), because I was working a regular job at the time. Although I do not have that excuse any longer! Now
it's a bevy of other "honey-do's", as well as the car show scene, which has been a part of my life for many years as well.

I remember the 'good-ole-days' of the Arrington auctions well. Not only was there a free lunch, some of the first ones
had a free open bar as well. I remember the bar scene at one in-particular, as I made more than one trip to, because
I was a bit apprehensive about bidding against Andy Griffith, whom I was sure that I would not have a snowballs chance
of out-bidding. Well as fate would have it, I DID, and never heard the end of it, for a very long time. Mainly because I
had established a record price for a machine, that was only the third known example, of which there are now many. Ha!
I guess my only excuse now, is that the condition spoke for itself. Yeah Right!

[clubconsoles]

interesting story SLOT DYNASTY.
The premiums at auctions in the US are ridiculous right now.
I have been collecting more than 20 years but only now, do I have a bit more time to devote to it.
I bought a mills bonus in a UK auction recently, the buyers premium was 10%, the seller got the hammer price.
I dont think the auction houses over here are as greedy because they seem to be run by collectors themselves.
The hobby is much more niche in the UK, so i hope we never see the likes of 22% buyers premium.