Piano Finder Fee

[Sarah Fox]

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Hi Terry,

My Wissner was located through a third party who supposedly wanted a 10% =
finder's fee.  It turns out that the "real" fee he was trying to swing =
for himself (by lying to both buyer and seller) was much, much higher -- =
something like 50% over the seller's price.  (In the end, the deal =
didn't happen the way he had hoped.)  Anyway, 10% was considered fair in =
NYC for a deal in which the finder didn't really have to do any more =
than to put two parties in contact.  If you are doing other things for =
the buyer (e.g. evaluating the pianos), then I would think you should =
ask more.  Perhaps you could charge a fee per piano that you evaluate, =
plus 10% of the sale?

Peace,
Sarah

  ----- Original Message -----=20
  From: Terry=20
  To: pianotech@ptg.org=20
  Sent: Friday, December 24, 2004 8:15 AM
  Subject: Piano Finder Fee


  I have been asked by a client of mine to find a good used piano for =
their daughter. I am always happy to work with folks to get rid of the =
junk and get a nice piano. The guy is willing to spend up to the $3K to =
$4K range (maybe a nice used Yamy upright). He appears to be the type of =
guy that simply doesn't have the time to do it himself, but wants it to =
happen. He said "find me a nice piano and I'll take care of you".

  We didn't talk about any specifics.

  So it seems apparent to me that he is willing to pay a finder's fee if =
I find him a nice piano. I am aware that some dealers will sell a piano =
for a private owner on consignment. I don't know what percentage is =
typical. I sold two bicycles at two different stores for a 25% =
consignment fee. I have a third at another store that will charge a 15% =
consignment fee. What kind of consignment fees do stores charge for a =
piano sold on consignment. Is that any basis for a finder's fee?

  Has anyone done this sort of thing for a third party? How did it work. =
What were the financial arrangements?

  Thanks.

  Terry Farrell
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