Thanks for this new information Charles. Personally, I find the buying to be quick and easy (and relatively risk-free), but the selling is a huge burden (taking the photos, timing the watches, writing the description, doing the listing, going to the post office (or UPS counter), filing in the paper-work, etc.). For the seller to pay 10% to avoid all this work seems like a bargain.

Of course, we will need to see what kind of prices the new system yields; getting the bidders will be the key to all this, I would think. This new platform would seem to be filing a huge gap between the "Wild West" of eBay and the elegance (expense) of the live auction room.

I am sure that many of us will be watching with great interest when you launch this new platform.

Good luck with it!!

Jeff

++++++++++++++++++++++++++++++++++++++++++

: It is amazing how often I hear the same comment regarding auction
: fees, but if you consider the immense expense involved with
: hosting the auction then we are nowhere near the profit margins
: seen in most industries. You have to consider salary, office
: rental, auction space, catalog printing, photography, shipping,
: various travel, advertising, credit card fees and other expenses
: at the minimum.

: Regarding Direct Bid I can confirm we will be charging 10% buyers
: and 10% sellers commission, this is a lot of work for us at this
: return but we feel there is a gap in the market with many
: clients reluctant to buy or sell via the current online options.
: We are offering multiple photographs, descriptions and
: authenticity combined with our existing client base to potential
: sellers. We will set the estimates, photograph and describe the
: watches ourselves and act as a third party to ensure payment is
: cleared. We have set in place anti-sniping with most watches
: being offered on a 10 day period, considering the interest
: generated so far, it will be popular from day one.

: I don't know about you but I usually tip 20% for good service at a
: restaurant, to charge the same for the service we will be
: providing most consider too low. So jump in quick before we put
: the charges up!

: Charles Tearle