Question: Auctio Commission Fees

Hi there fellow Entropians,

Can somebody please direct me as to where I can find the Auction House's Commission - Fee structure?

Would be sincerely appreciated.
Thanks in Advance

Auction Fee = 0.5 + Markup * 99.5 / ( Markup + 1990)

Nihilist said:

Auction Fee = 0.5 + Markup * 99.5 / ( Markup + 1990)

Click to expand...

and max is still 100...right?

Many thanks for your quick response.

I calculated a scenario where I would sell something at 113% M/U, and got an answer of about 5.84 PED? Or should it be 55.8 PEC like I got the second time?

Che' said:

Many thanks for your quick response.

I calculated a scenario where I would sell something at 113% M/U, and got an answer of about 5.84 PED? Or should it be 55.8 PEC like I got the second time?

Click to expand...

I think that formula needs a markup in peds, not %.

Nihilist said:

Auction Fee = 0.5 + Markup * 99.5 / ( Markup + 1990)

Click to expand...

Pretender said:

and max is still 100...right?

Click to expand...

yeah, it is 100 according to the formula. if markup -> infinity, fee -> 100

you can read the formula as:

Fee = 0.5 + (99.5 * (1 + (1990/Markup)))

which makes it easier to see what happens when Markup -> infinity

Che' said:

Many thanks for your quick response.

I calculated a scenario where I would sell something at 113% M/U, and got an answer of about 5.84 PED? Or should it be 55.8 PEC like I got the second time?

Click to expand...

it would depend on 113% of what? 113% of 100ped would be 113ped, so 13ped markup and it would come out to 1.15 auction fee.

The MU is the MU in peds, thus sale price-TT.

fx. a korss h400, full TT 177 ped @ 110%

177*1.1 - 177 = 17.70

So the MU is the difference between TT and the actual price.

Here you go...

http://spreadsheets.google.com/pub?key=tcGdOKQbaGbAKpsnIidD73g&output=html

This shows how it works... The % that the auction takes is the % of the MARKUP, not the % of TT+Markup...

If/When I start selling blueprints at my booth and shopkeeper, I'll likely base my commission on a % of what the auction charges... Probably, but not necessarily charge 80% of what auction costs. I think I did some calculations one time and figured that Nihilist charges around 70% of what auction costs after you account for taxes. I don't think his fee schedule listed here on forums does account for taxes, but I may have mis-interpreted that somehow. It's been a while since I did any comparitive price analysis to his shop or anyone else that's doing commission based consignment stuff.

I do know that Nihilist's fees or anyone that's doing consignment are probably charging you as a seller less than STTS was when Josh was running things with STTS since Josh was selling most of the STTS goods through auctions so he was charging 100% of auction fee/commission + 30% of profits on top of that. Most consignment shops can afford to charge less than auction since shop taxes + shopkeeper decay ends up being less than auction usually charges, at least on things that are above +1 markup. Shopkeeper decay is 10 pec per sale, at least at the moment. It used to be more than that a long time ago. Taxes may change from place to place in the future as LA owners get the right to change their tax setup... You'd hope they'd lower taxes, but I would not count on it.