What is a good finder’s fee? [2022 Update] 1 1

[littledoom]

I know both the seller and buyer of a massive 200 longboxes 80s collection of $50k asking. What is a reasonable finders fee? Should I ask for a finders fee from both parties? Thank ya!

[revat]

I have no experience with it, but I'm thinking $1k from each side in cash.  But it might depend on how much work you put in, how desperate those guys are, how much you know/trust/like them, etc.

[Bird]

establish finders fee before connecting parties

take it in comics day of sale

I have never done this so take it for what it is worth

[MattTheDuck]

5-10 percent of the transaction value seems reasonable.  I'd get it in cash.

[mycomicshop]

We'll typically offer a 10% of the purchase price as finder's fee for referrals to large collections. Primary exception would be highly competitive lots like smaller groups of high value CGCs, where if we did a 10% finder's fee that might cut into our margin enough that we couldn't successfully buy the collection, in which case we might discuss a lower finder's fee with the referrer, since it's better to get some finder's fee than nothing at all.

[BlowUpTheMoon]

On 2/8/2022 at 12:45 PM, Bird said:

establish finders fee before connecting parties

I'm going to say it's too late to ask either party.

[littledoom]

Thanks for some comments.. there’s an archived thread from 2010 (wow) about the topic and the general consensus is 10-20% with some citing a percentage over 10% being robbery. I would have to imagine 12 years later and in this trading climate the rate’s gotta be closer to that 20% margin

Edited February 8, 2022 by littledoom

[Ares]

10% Or if less 1 or 2 books from collection

[Bird]

On 2/8/2022 at 4:46 PM, littledoom said:

I would have to imagine 12 years later and in this trading climate the rate’s gotta be closer to that 20% margin

I disagree, I would say that is has to be less. It is easier than ever to find someone to buy your books, why pay 20% to the middleman?

Edited February 8, 2022 by Bird

[littledoom]

On 2/8/2022 at 1:56 PM, Bird said:

I disagree, I would say that is has to be less. It is easier than ever to find someone to buy your books, why pay 20% to the middleman?

Hmm… I can see that.. rates have been going down across the board 

[MetalPSI]

10% has been standard, from collectibles to the mafia

[Terry JSA]

10% for the finder’s fee.

[Turnando]

This implies that the buyer and the seller are already connected:

On 2/8/2022 at 10:18 AM, littledoom said:

I know both the seller and buyer of a massive 200 longboxes 80s collection of $50k asking.

So it is too late to ask either of them for money.  You don't ask for a fee for something that might reasonably be expected to be free. 

Some deals involve finders fees.  Most do not.  The deals in which a finders fee was not previously discussed do not change into finder's fee deals after the fact.  That would be like setting a trap.  It's unethical... And annoying.

[littledoom]

On 2/8/2022 at 3:51 PM, Turnando said:

This implies that the buyer and the seller are already connected:

So it is too late to ask either of them for money.  You don't ask for a fee for something that might reasonably be expected to be free. 

Some deals involve finders fees.  Most do not.  The deals in which a finders fee was not previously discussed do not change into finder's fee deals after the fact.  That would be like setting a trap.  It's unethical... And annoying.

Huh? It’s like setting two friends up for a date. I know em both. How could they possibly know each other already? 

[Domo Arigato]

On 2/8/2022 at 7:07 PM, littledoom said:

Huh? It’s like setting two friends up for a date. I know em both. How could they possibly know each other already? 

What several people are trying to say.......is that if you already introduced the buyer and seller to each other before you discussed a finders fee with either of them.......then it's too late to go back and try to get one.

 

Edited February 9, 2022 by Domo Arigato

[Randall Dowling]

On 2/8/2022 at 3:59 PM, The Meta said:

10% has been standard, from collectibles to the mafia

"I'd like to protect you and your family.  But in order to do this thing, I must take a few of these comics."  

[MetalPSI]

On 2/8/2022 at 6:14 PM, Randall Dowling said:

"I'd like to protect you and your family.  But in order to do this thing, I must take a few of these comics."  

 

[littledoom]

On 2/8/2022 at 5:12 PM, Domo Arigato said:

What several people are trying to say.......is that if you already introduced the buyer and seller to each other before you discussed a finders fee with either of them.......then it's too late to go back and try to get one.

 

Luckily I’m a smart fellow and I ask questions ahead of time 

[wombat]

I'm not sure why everyone was assuming he already introduced them to each other. 

[Cat]

10-15%, unless it's a looser connection, in which case drop it to 8.