The Australian Financial Review summarizes a British Antiques Gazette story announcing that BADA is launching an online auction platform that will not charge a buyer’s premium:
The scheme is the brainchild of the respected British Antique Dealers Association, which has about 330 members.
Under the dealer scheme, there will be no buyer’s premium – in contrast to the auctioneers which charge buyers 25 per cent or more. Sellers will pay a 15 per cent commission.
The move is a first for an antique dealer body and a radical initiative for BADA as it approaches its 100th anniversary in 2018. It plans to host three to four sales a year initially.
[D]ealers would be identified as sellers and be in direct contact with buyers to complete a sale.
Disruption in art market: Dealers turn auctioneers (afr.com)
More from Art Market Monitor
British Struggle with Artist Re-sale Royalty
Sotheby’s Increases Auction Commission Margin in Q1
Australian Collectors (50 of Them) Compose 10% of the Modern British Art Market
Auction Sales Rose in Paris in 2010
Christie’s London PWC Demonstrates Market Rotation, Strong Asian & British Buying
Dealer Mark Weiss Defends His Frans Hals
