FAB) hopes to gain traction in the market via an innovative pricing model. Meanwhile de Pury's eponymously titled firm is promising to reduce buyer's fees to 15%.It's not just the avoidance of artists' resale rights that will be of interest to copyright-sensitive readers. The production of glossy art auction catalogues provides an opportunity for the artist to charge for the reproduction of his or her work -- but if a web-only auction means web-only marketing, those deliciously desirable must-have catalogues, which have value as reference works in their own right and are held by art libraries for such purposes, may also be a thing of the past, replaced by a screenful of thumbnail images, perhaps.
The headline statistic at FAB is that they will charge vendor's and buyer's fees of just 5% with a 72-hour packing and shipping service - so often a barrier to entry for bidding online - 'free' for both buyers and sellers. They add that transaction charges will be exempt of sales taxes or artist resale royalties, as sales are processed through headquarters in Hong Kong ..."
Thanks go to John Walker for drawing my attention to this development.