Lelands Does the Right Thing with Buyer's Premium

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10-20-2007, 02:07 PM

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Lelands Does the Right Thing with Buyer's Premium

Posted By: David Davis

The rate itself aside, most people I would think accept the fact that there is a buyer's premium associated with auction houses.

It was pleasing to see that Leland's new Foto archive auctions has no buyer's premium indicated. This makes sense since they own all of the material, and are making their money on the sale of the item, rather than just a consignor's fee.

This also could lead to a separate discussion on whether auction houses should charge a BP on items they own.

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