I've thrown bids at half a dozen lots only to watch prices spiral into the stratosphere.
Think about this: For a lot where the 'winning' bid is $100:
- buyer pays $100 + 20% Buyers fee + 13% HST = $135.60.
- seller receives $85 after paying 15% Seller's fee.
So on a $100 lot, $50.60 are collected in fees and taxes. Which is insane.
I can't wait until Dougie locates his huevos, takes on the union and privatizes the retail side to create a free and fair resale market.
The Soviet Union had a flourishing black market. We don't even have that!