[Frank Miller]

Typically it used to be 10% paid by the buyer and 10% paid by the seller so the auction house made 20% on all sales. The fact that the auction house is paid on commission is why they should be marketing an auction. Sure there is a disclaimer for the buyer that they are not liable for information provided but they are liable for poor marketing in the form of poor sales. It costs them money.
The Dingman auction had the same crazy fees and stuff was still in the stratosphere. There are some discriminating collectors out there we are not even aware of. They have a building on their property that is the equivalent to a museum. The cars there are meticulously maintained and of the highest quality. Dingman sold a 1949 Convertible for 100,000. He paid 150,000 to get it restored.
If I were to sell mine I fell hard pressed to get in the high 20's for it.
We are just a bunch of regular guys. Sure one of us may be worth 10 times more than the other but 100 dollars is worth 10 times more than 10 dollars. We are all still little guys. The big guy does not even bother with these conversations.