Buyers Premium,
2008-03-09
How and where does the buyers premium money being used?
Recently we received an email asking why Christy’s has joined the ranks of the greedy by charging a buyers premium and we want to explain our stand on this matter.
We at Christy’s nearly 5 years ago elected to bring our business up to the standard of the industry that Christies of New York started 40 years ago and that was to implement a buyers premium.
The question is why and where does the monies from the buyers premium go?
We told the buyers and selling when we started we were going to use these money to better our auction gallery and give better service and more comfort to our business.
Since then we have increased our size of the paved parking, put in a new computer system, have a computer for public use. We now have loaders for furniture purchases and fork lift to assist in loading, many other conveniences for the buyers of our Wednesday auction. We have updated our equipment both inside and outside the gallery to benefit all of our clients. We have license scanners and we still do not charge extra for credit cards.
We also vowed not to raise our commission to sell at auction, and we are still charging the same after 34 years in business.
The most important aspect of the buyer’s premium goes unnoticed by all of our clients. We vowed to take a part of the buyer’s premium and return it to God’s people. At the start of every month we write checks to several ministries, churches, and buy bibles to give to those in need.
We also give clothing and food to Hispanic church and ministry; we give clothing and other special needs to 2 Women’s shelters. We partner with a group who feed and cloth children in third world nations. We are now being asked to serve on mission boards. We have given a great deal of furniture to the Chin people to establish their homes in Indy. We are assisting in the building of a new Hispanic Church on the West Side of Indy. Christmas time is very special for us and we elect to serve our local Perry Township with helping families that need food and help at this time of the year.
We also pay for auctioneer services at Charity events to work and raise money to assist in their needs and the buyer’s premium helps pay for the auctioneers services and we buy gifts and give money to sponsor many charities. We also teach the organizations how to raise funds for their needs and Christy’s pays for these expenses.
We also sponsor events in our own auction profession to further enhance education for auctioneers and staff.
We believe that Christy’s has been charged to be a good steward with the monies that God have blessed us in the years we have had to serve Him. The bottom line is this is God’s business.
Matthew 6:21 for where your treasure is, there your heart will be also
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