US buyers advantage RR auction now offering 4 months credit ...for US buyers only

[Full Time Flipper]

RR auction is now offering 4 months credit great we can all bid that little bit more and stretch for that item we really want ..wait unless you are a non US bidder then you cant the 4 months credit is available only to US buyers clearly giving them a massive bidding advantage thats a real kick in the nuts for anyone not living in the states  

[Mike T]

Their shipping should be free for the amount of fees they charge.

Not accepting credit cards substantially limits the international audience, not to mention the US audience that doesn't want to have to go to the bank every time they win an auction.

I don't really see the benefit of the line of credit other than it allows people to extend beyond their means which they shouldn't be doing anyway.. especially on collectibles.. but to each their own finances I suppose.

[Paul]

There's plenty of members here that always buy from rr abd other auction houses.

[Full Time Flipper]

 the credit would suit me sometimes if im upgrading an autograph it would give me a few months to sell on my old item and raise some $ towards the new one  

[Mike T]

Assuming they offer it at 0% interest (i haven't read the terms), it's not a bad move financially to use it.. it just might encourage buyers to incur debt beyond their financial means, which can be a slippery slope.

If they charge you interest, I would not recommend it.

[Paul]

There's still plenty of buyers in the states for high end items. They wouldn't shoot themselves in the foot financially. Rock memorabilia is big business.
Plus they have other auctions year round.

[Mike T]

I would be one of them, but I'm not going to go to the bank and pay wire fees on top of 25% buyers premium every time I want to buy something.

[Paul]

Id like to know how much they pay their team of experts to put the catalog together.

[michelle]

Are you reliably informed that the default is 20 per cent?  what happens if you default?  Are you still allowed to bid with them?  How do you get out of paying them?  I tried to cancel a bid with them once, when I was still the only bidder on the item,  after realizing the unbelievable cost of shipping something oversized and large overseas and I got a email back reminding of my legal contract with them saying that it was binding contract so I spent the next week hoping for someone to outbid me.

[Mike T]

The consignment fee is 20%.. that means if you consign an item and it sells for $1000, you get $800 and RR takes $200.  It has nothing to do with buying items.

When you are bidding, the buyers premium is what comes into play.. that adds a certain percentage on top of whatever the highest bid is.  According to their website, the current BP is 22.5% for online and 25% for live auctions.  That means if you bid $1000 and win the item, you really have to pay $1225 or $1250 at a live auction.  Plus shipping and any applicable taxes of course.

[Joe W.]

RR Auction has always intrigued me. I love the quality of their listings and find their auctions educational and entertaining. I also can see getting the big prices they receive for the rarities they offer. On the other hand, the more available items on the marketplace, they seem to get prices far above the norm. I use their past auctions as a guide to the high retail value on the market. They have a large customer base with some collectors that have very deep pockets. With the fees and everything else, the costs really add up. For the average collector with a tight budget, it's not the playground for me.

[Dan Gregory]

After I had an item damaged in transit I only buy from overseas if I can pay via credit card or PayPal and after RR stopped accepting either I like a few buyers I know will not risk it. A shame as they have some great items

[Joe W.]

I think this may be a sign that RR Auctions may be struggling a bit. Why don't they accept credit card payments anymore? My guess is charge backs. Is this a line of credit or a lay-a-way where they hold the items until paid on full? Why US only? I speculate it is perhaps that it would be easier for them to sue for payment if necessary. RR Auctions has very nice items but they can be a pain in the neck to deal with.