$137 for insurance? 0

[shadroch]

I've been buying a few things from an small out of state auction house for a few months. I think I've bought from about ten auctions and my biggest invoice was less than $500.

Last week they had a decent run of SA comics and I ended up winning Daredevil 1,3,4,5,6, Spiderman 16, 17 and a few other books. The winning bids came to just over $3,000.

I get an invoice overnight and they added $137 fto insure the package. I just got off the phone with them and they won't waive it even though I can send them a copy of my own insurance which covers any shipping.  They added a 16% premium ,which I expected, but then they charged $1.50 per $100 on the premium amount ,as well.  Talking to the guy on the phone, I got the feeling they don't actually take out insurance, they just self insure. 

[Wipple]

I try to avoid the auction houses as the fees are ridiculous. You did say that you have been buying for a few months. Did you question the insurance prior to this invoice?

[shadroch]

On 11/16/2021 at 9:03 AM, Wipple said:

I try to avoid the auction houses as the fees are ridiculous. You did say that you have been buying for a few months. Did you question the insurance prior to this invoice?

No, because it rarely came to more than three or five dollars and wasn't worth bringing up. Last week, they charged me 1.87 for insuring a package worth $224. I'm not going to waste the persons time complaining about a sum like that. 

[theCapraAegagrus]

This story seems really familiar.

[ramrodcar]

It sounds like they're just using Priority with "regular" insurance. They either aren't aware/don't care (too big of a hassle) that shipping it registered would be significantly cheaper to insure.

 

 

[alexgross.com]

On 11/16/2021 at 7:44 AM, shadroch said:

I've been buying a few things from an small out of state auction house for a few months. I think I've bought from about ten auctions and my biggest invoice was less than $500.

Last week they had a decent run of SA comics and I ended up winning Daredevil 1,3,4,5,6, Spiderman 16, 17 and a few other books. The winning bids came to just over $3,000.

I get an invoice overnight and they added $137 fto insure the package. I just got off the phone with them and they won't waive it even though I can send them a copy of my own insurance which covers any shipping.  They added a 16% premium ,which I expected, but then they charged $1.50 per $100 on the premium amount ,as well.  Talking to the guy on the phone, I got the feeling they don't actually take out insurance, they just self insure. 

who?

[shadroch]

It's a small auction house that occasionally has some steals so I prefer not to disclose their name. They don't specialize in either comics or cards but do get collections in.  Until recently, they weren't on many peoples radar so I'd get some steals. Last year I got a TTA 35 for under $100 and a Superman 78 for $15.

[buttock]

On 11/16/2021 at 9:56 AM, shadroch said:

It's a small auction house that occasionally has some steals so I prefer not to disclose their name. They don't specialize in either comics or cards but do get collections in.  Until recently, they weren't on many peoples radar so I'd get some steals. Last year I got a TTA 35 for under $100 and a Superman 78 for $15.

Oh, so it's Heritage. 

[shadroch]

No, as I said it's a small auction house. Mostly they do live auctions with very little stuff needing to be shipped.

[MattTheDuck]

When I see "Additional Dealer Mark-Up" on the window sticker, I make 'em discount it off there as well.  Sounds like a low-risk profit center for them.

[alexgross.com]

On 11/16/2021 at 8:56 AM, shadroch said:

It's a small auction house that occasionally has some steals so I prefer not to disclose their name. They don't specialize in either comics or cards but do get collections in.  Until recently, they weren't on many peoples radar so I'd get some steals. Last year I got a TTA 35 for under $100 and a Superman 78 for $15.

i guess being ripped off on insurance is the price to pay for getting some steals while dealing with this smaller, secret auction house. if it were me, i'd still refuse to pay it. good luck to you. 

[shadroch]

I called back, spoke to the same person who told me he had asked someone else about it and we came to a solution. I'm creating my own label and emailing it to him, in essence shipping it to myself .  The rep said 98% of their lots sell locally and some auctions it is 100%.

[JollyComics]

It sounds like Las Vegas Liquidation.

[valiantman]

FYI, $137 would get over $20,000 in insurance for an entire year (including shipping or just sitting in your collection for 12 months).  CollectInsure.com