Buyers Premium Definition:
A Buyer’s Premium is an additional fee paid by the buyer/winning bidder at an auction. Normally the fee is a percentage (10 – 20%) added onto of the final bid price. Be sure to take these additional monies into account when placing an auction bid.
As an example, a winning bid is $100., auction house charges a 15% buyers premium, buyer will owe $115. plus any applicable taxes and/or shipping charges.
We charge a 10% Buyers Premium on all of our Thursday Auctions. There is NO buyers
premium for our New Merchandise or our Grocery Auctions.