Who gets the buyer's premium?

[glenv]

The buyer pays 12.5% more, but the seller gets $100 of every $112.5 (100/112.5). So the seller actually gets 88.889% of the final sale - even better than 87.5%.

[sb1]

I was trying to keep it simple....

I knew someone would perform the exact calculation though.

Scott

[joeadcock]

Thanks Scott and Leon

[shaunsteig]

to answer the original poster's question -- the buyer's premium is a surcharge that the auction house imposes on the buyer, on top of the closing price. So if the BP is 15%, and the closing price (ie the hammer) on the card that you won is $100, then the auction house will charge you $115. Be mindful of this when placing your bids -- some auction websites post the total price pretty clearly (and thus make it easy for you to know your true final cost) while others only post the bidding price (and thus leave it on you to figure out the BP, which makes the auction seem more attractive to you since the posted price seems lower).

[ValKehl]

Blair - I think that FUBAR meant exactly what he said, and I also believe this happens on occasion. In other words, If I have a $20K card to consign to an auction house, not only am I not expecting/willing to pay a seller's commission, but I am also looking for a slice of the 17.5% (or 19.5% or whatever it is) buyer's commission!!
Val

[Bosox Blair]

Originally Posted by ValKehl

Blair - I think that FUBAR meant exactly what he said, and I also believe this happens on occasion. In other words, If I have a $20K card to consign to an auction house, not only am I not expecting/willing to pay a seller's commission, but I am also looking for a slice of the 17.5% (or 19.5% or whatever it is) buyer's commission!!
Val

Hi Val,

Thanks for your comment. I had not heard of a case of that happening, but I imagine on some high-end items the seller might try to cut a deal like that. I'd say if I had a T206 Wagner to consign, I'd try to haggle the auction houses into the best deal I could get (including a piece of the BP).

But at the level I play at, I wouldn't even try to swing such a deal .

Cheers,
Blair

[FUBAR]

Yes, i meant exactly what i said..... as Val outlined better then i did!

[shaunsteig]

Originally Posted by glenv

The buyer pays 12.5% more, but the seller gets $100 of every $112.5 (100/112.5). So the seller actually gets 88.889% of the final sale - even better than 87.5%.

you sure about that? does the seller's commission come off the hammer price, or the total price (ie including the BP) as you suggest. I had thought the hammer price...

[Jim VB]

Originally Posted by shaunsteig

you sure about that? does the seller's commission come off the hammer price, or the total price (ie including the BP) as you suggest. I had thought the hammer price...

In this case, the point is moot. They were discussing B&L auctions, which has zero seller's commission.