Sign in to follow this  


Recommended Posts

Buyer's premiums did not exist 10 + years ago...

One large NY Aucion house started this with their High-End Art Auctions... Soon other's started charging the same Buyer's fee... After they found that they "got away with it",and buyers were willing to pay this fee...there was no going back!

If buyers were not willing to pay this "Premium",and did not attend their auctions, the Buyer's Premiums would soon end!

To me this fee is an insult!

Just the Auction COs trying to "Burn The Candle at Both Ends!" Sucking more money out of you! After all... Who else charges you for the privledge of buying at their place of business ???

By the way...

The Buyer's Registration Fee was started by the Auction COs to keep the sightseers, and non-buyers away from their auctions!

It is figured that if the Auction entry were Free...Non buyers would take-up seats that real buyers could be using...

The Buyer's Regristration was thought to discourage these non-buyers... They would not want to pay a fee just to watch the auction!

Soon the fees just got higher and higher!!!

To the Auction Industry...

You play by OUR RULES...or YOU DON'T PLAY!

"Greed Is Good!!!"

Share this post

Link to post
Share on other sites


The SELLER pays all fees to the Real Estate Broker for selling their property...

The Buyer pays the Real Estate Broker...


Share this post

Link to post
Share on other sites

I would assume that most people do what I do which is keep a running total (bid + sellers fee + sales tax) in their head. Theoretically, the seller is paying for all the fees in my case as I'm only going to pay what I think the car is worth including all the fees. This price would be the same in a private transaction so the seller is getting less since I'm bidding 10% less.

The auctions are great entertainment and occasionally there is a reasonable deal, although most of the time the cars are fully priced plus. I'm not sure why you are so worked up about it.


Share this post

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this