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Originally Posted by Fballguy
Still waiting to hear your answer Peter.
If it's all the same money...Why do we need a buyer's premium at all?
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Maybe from an accounting perspective it makes it simpler to keep track of what you pay the consignor and what you keep, than having to calculate percentages of the hammer price in a seller's fee world, but I really don't know or care. You have to do it one way or the other and it comes out to the same thing. Unless of course you think AHs should not take in any money.
Why don't you explain to us why you, knowing a premium is going to be added to your bid and presumably taking that into account like the overwhelming majority of people, care what convention is used for the AH's cut?